Paycom Software (NYSE:PAYC – Get Free Report) had its price objective lifted by equities researchers at Cantor Fitzgerald from $195.00 to $285.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the software maker’s stock. Cantor Fitzgerald‘s price objective points to a potential upside of 9.40% from the company’s current price.
A number of other analysts also recently weighed in on PAYC. Zacks Research downgraded Paycom Software from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. TD Cowen lifted their target price on Paycom Software from $244.00 to $286.00 and gave the stock a “buy” rating in a report on Friday, October 2nd. Citigroup raised their price objective on Paycom Software from $194.00 to $279.00 and gave the stock a “neutral” rating in a research report on Tuesday. Bank of America assumed coverage on Paycom Software in a research note on Tuesday, September 29th. They issued an “underperform” rating and a $200.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their target price on Paycom Software from $140.00 to $264.00 and gave the company a “neutral” rating in a report on Tuesday, August 25th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $256.21.
Read Our Latest Stock Report on Paycom Software
Paycom Software Stock Performance
NYSE:PAYC opened at $260.50 on Friday. The stock’s 50-day moving average is $235.07 and its 200-day moving average is $163.59. Paycom Software has a 1-year low of $104.90 and a 1-year high of $275.22. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.57. The stock has a market cap of $11.74 billion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 1.41 and a beta of 0.82.
Paycom Software (NYSE:PAYC – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.40. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The business had revenue of $531.20 million during the quarter, compared to analyst estimates of $513.12 million. During the same quarter last year, the business earned $2.06 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts anticipate that Paycom Software will post 10.80 earnings per share for the current year.
Insider Activity
In related news, insider Shane Hadlock sold 2,577 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $237.60, for a total transaction of $612,295.20. Following the sale, the insider owned 70,152 shares in the company, valued at $16,668,115.20. This represents a 3.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 13.20% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Paycom Software
Several institutional investors have recently added to or reduced their stakes in the business. Childress Capital Advisors LLC boosted its position in Paycom Software by 1.4% during the third quarter. Childress Capital Advisors LLC now owns 2,951 shares of the software maker’s stock worth $642,000 after purchasing an additional 42 shares during the period. Archford Capital Strategies LLC raised its position in shares of Paycom Software by 1.1% in the second quarter. Archford Capital Strategies LLC now owns 4,684 shares of the software maker’s stock valued at $589,000 after purchasing an additional 49 shares during the period. CX Institutional lifted its stake in shares of Paycom Software by 4.7% during the 3rd quarter. CX Institutional now owns 1,399 shares of the software maker’s stock valued at $304,000 after buying an additional 63 shares in the last quarter. Versant Capital Management Inc grew its stake in Paycom Software by 2.6% in the 3rd quarter. Versant Capital Management Inc now owns 2,689 shares of the software maker’s stock valued at $585,000 after buying an additional 69 shares in the last quarter. Finally, Signaturefd LLC grew its stake in Paycom Software by 3.4% in the 3rd quarter. Signaturefd LLC now owns 2,547 shares of the software maker’s stock valued at $554,000 after buying an additional 83 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.
Paycom Software Company Profile
Paycom Software, Inc is a provider of cloud-based human capital management (HCM) software designed to help businesses manage employee-related processes through a unified platform. Its solutions support payroll, human resources, talent acquisition and management, time and labor management, compliance, and employee engagement.
The company’s software is intended to allow employers and employees to enter and manage workforce information within a single system. Its offerings include payroll processing, benefits administration, expense management, scheduling, performance management, learning, and recruiting tools.
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