Jefferies Financial Group Reaffirms Buy Rating for Paycom Software (NYSE:PAYC)

Jefferies Financial Group reaffirmed their buy rating on shares of Paycom Software (NYSE:PAYCGet Rating) in a report issued on Wednesday. The firm currently has a $335.00 price target on the software maker’s stock.

Several other brokerages also recently weighed in on PAYC. Deutsche Bank Aktiengesellschaft decreased their target price on Paycom Software from $450.00 to $425.00 in a research report on Wednesday, May 4th. KeyCorp upped their target price on Paycom Software from $340.00 to $390.00 and gave the stock an overweight rating in a research report on Wednesday. TheStreet downgraded Paycom Software from a b- rating to a c+ rating in a research report on Monday, May 2nd. Credit Suisse Group decreased their target price on Paycom Software from $425.00 to $350.00 in a research report on Wednesday, May 4th. Finally, Piper Sandler increased their price target on Paycom Software from $361.00 to $387.00 and gave the company an overweight rating in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $375.43.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $370.01 on Wednesday. Paycom Software has a 12 month low of $255.82 and a 12 month high of $558.97. The business has a 50-day moving average of $303.54 and a two-hundred day moving average of $312.44. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $22.29 billion, a PE ratio of 94.15, a P/E/G ratio of 3.34 and a beta of 1.50.

Paycom Software (NYSE:PAYCGet Rating) last issued its earnings results on Tuesday, May 3rd. The software maker reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.14. Paycom Software had a return on equity of 23.38% and a net margin of 18.85%. The company had revenue of $353.52 million during the quarter, compared to the consensus estimate of $343.20 million. During the same quarter in the prior year, the business earned $1.10 earnings per share. The company’s revenue was up 29.9% compared to the same quarter last year. As a group, research analysts forecast that Paycom Software will post 4.32 earnings per share for the current year.

Paycom Software announced that its Board of Directors has initiated a stock buyback plan on Tuesday, June 7th that permits the company to buyback $550.00 million in outstanding shares. This buyback authorization permits the software maker to buy up to 3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, EVP Justin Devon Long sold 151 shares of the company’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $275.23, for a total transaction of $41,559.73. Following the sale, the executive vice president now owns 2,956 shares in the company, valued at $813,579.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Paycom Software news, insider Holly Faurot sold 194 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $280.32, for a total transaction of $54,382.08. Following the sale, the insider now owns 45,180 shares in the company, valued at $12,664,857.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Justin Devon Long sold 151 shares of the company’s stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $275.23, for a total value of $41,559.73. Following the sale, the executive vice president now owns 2,956 shares in the company, valued at approximately $813,579.88. The disclosure for this sale can be found here. Insiders have sold 19,721 shares of company stock worth $5,441,538 over the last quarter. 15.20% of the stock is owned by corporate insiders.

Institutional Trading of Paycom Software

Institutional investors and hedge funds have recently made changes to their positions in the stock. Toth Financial Advisory Corp raised its position in shares of Paycom Software by 250.0% during the 2nd quarter. Toth Financial Advisory Corp now owns 91 shares of the software maker’s stock worth $25,000 after purchasing an additional 65 shares during the period. Quadrant Capital Group LLC raised its position in shares of Paycom Software by 54.8% during the 4th quarter. Quadrant Capital Group LLC now owns 96 shares of the software maker’s stock worth $40,000 after purchasing an additional 34 shares during the period. Zions Bancorporation N.A. raised its position in shares of Paycom Software by 405.3% during the 2nd quarter. Zions Bancorporation N.A. now owns 96 shares of the software maker’s stock worth $27,000 after purchasing an additional 77 shares during the period. Clear Street Markets LLC raised its position in shares of Paycom Software by 421.1% during the 2nd quarter. Clear Street Markets LLC now owns 99 shares of the software maker’s stock worth $28,000 after purchasing an additional 80 shares during the period. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of Paycom Software during the 4th quarter worth approximately $42,000. 87.12% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Company Profile

(Get Rating)

Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.

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Analyst Recommendations for Paycom Software (NYSE:PAYC)

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