Paycom Software (NYSE:PAYC) had its price objective increased by Royal Bank of Canada to $139.00 in a research note issued to investors on Monday, February 4th, The Fly reports. The firm currently has a “market perform” rating on the software maker’s stock. Royal Bank of Canada’s price objective would suggest a potential downside of 23.54% from the company’s current price. The analysts noted that the move was a valuation call.
A number of other equities analysts have also weighed in on PAYC. Zacks Investment Research lowered Paycom Software from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. ValuEngine lowered Paycom Software from a “buy” rating to a “hold” rating in a research report on Tuesday, November 20th. Credit Suisse Group increased their price target on Paycom Software from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, October 31st. Needham & Company LLC increased their price target on Paycom Software to $150.00 and gave the company a “buy” rating in a research report on Wednesday, October 31st. Finally, Canaccord Genuity decreased their price target on Paycom Software from $150.00 to $140.00 and set a “hold” rating for the company in a research report on Wednesday, October 31st. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $148.87.
NYSE:PAYC traded up $0.07 during mid-day trading on Monday, reaching $181.80. 380,616 shares of the stock were exchanged, compared to its average volume of 828,830. The firm has a market cap of $10.80 billion, a P/E ratio of 83.39, a PEG ratio of 2.81 and a beta of 1.78. Paycom Software has a 1-year low of $96.44 and a 1-year high of $186.00. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.10.
Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Tuesday, February 5th. The software maker reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.13. Paycom Software had a return on equity of 38.83% and a net margin of 24.20%. The business had revenue of $150.33 million during the quarter, compared to analyst estimates of $144.10 million. During the same quarter last year, the company posted $0.90 EPS. Paycom Software’s revenue for the quarter was up 31.8% on a year-over-year basis. Sell-side analysts expect that Paycom Software will post 2.62 EPS for the current year.
In other news, insider Jeffrey D. York sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $173.96, for a total transaction of $4,349,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Craig E. Boelte sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, January 9th. The stock was sold at an average price of $128.78, for a total value of $1,545,360.00. The disclosure for this sale can be found here. Company insiders own 16.24% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of PAYC. Capital International Investors purchased a new stake in shares of Paycom Software during the 3rd quarter worth about $488,601,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Paycom Software by 72.6% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,964,610 shares of the software maker’s stock worth $240,566,000 after purchasing an additional 826,529 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in shares of Paycom Software during the 3rd quarter worth about $59,664,000. Waratah Capital Advisors Ltd. raised its stake in shares of Paycom Software by 330.8% during the 4th quarter. Waratah Capital Advisors Ltd. now owns 309,607 shares of the software maker’s stock worth $37,911,000 after purchasing an additional 237,743 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Paycom Software by 47.4% during the 4th quarter. Jennison Associates LLC now owns 625,198 shares of the software maker’s stock worth $76,555,000 after purchasing an additional 201,115 shares in the last quarter. 79.35% of the stock is owned by institutional investors.
Paycom Software Company Profile
Paycom Software, Inc provides cloud-based human capital management (HCM) software service for small to mid-sized companies in the United States. It provides functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement. The company's HCM solution offers a suite of applications in the areas of talent acquisition, including applicant tracking, candidate tracker, background checks, on-boarding, e-verify, and tax credit services; and time and labor management, such as time and attendance, scheduling/schedule exchange, time-off requests, labor allocation, labor management reports/push reporting, and geofencing/geotracking.
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