Paycom Software (NYSE:PAYC) Raised to Strong-Buy at Zacks Research

Paycom Software (NYSE:PAYC) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

A number of other research firms have also weighed in on PAYC. Jefferies Financial Group decreased their price target on Paycom Software from $190.00 to $130.00 and set a “hold” rating for the company in a research report on Thursday, February 12th. Cantor Fitzgerald raised their price target on Paycom Software from $115.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, March 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Paycom Software in a research note on Friday, May 1st. Citigroup raised their price target on Paycom Software from $120.00 to $136.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, UBS Group cut their price target on Paycom Software from $210.00 to $183.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $159.67.

Paycom Software Price Performance

NYSE:PAYC opened at $141.29 on Monday. The business’s 50-day moving average price is $126.80 and its 200 day moving average price is $142.68. The firm has a market cap of $6.73 billion, a P/E ratio of 16.33, a PEG ratio of 1.22 and a beta of 0.77. Paycom Software has a 52-week low of $104.90 and a 52-week high of $267.76. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.83.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, May 6th. The software maker reported $3.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.99 by $0.16. The firm had revenue of $571.80 million for the quarter, compared to analyst estimates of $564.37 million. Paycom Software had a return on equity of 28.34% and a net margin of 22.44%.Paycom Software’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.80 earnings per share. As a group, sell-side analysts predict that Paycom Software will post 9.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paycom Software

A number of institutional investors and hedge funds have recently bought and sold shares of PAYC. Janus Henderson Group PLC raised its position in shares of Paycom Software by 467.2% during the first quarter. Janus Henderson Group PLC now owns 23,200 shares of the software maker’s stock worth $2,819,000 after acquiring an additional 19,110 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Paycom Software by 32.1% in the first quarter. EverSource Wealth Advisors LLC now owns 424 shares of the software maker’s stock valued at $52,000 after acquiring an additional 103 shares during the period. Empowered Funds LLC grew its stake in Paycom Software by 592.8% in the first quarter. Empowered Funds LLC now owns 20,833 shares of the software maker’s stock valued at $2,532,000 after acquiring an additional 17,826 shares during the period. SummitTX Capital L.P. acquired a new position in shares of Paycom Software during the first quarter worth about $1,190,000. Finally, Weiss Asset Management LP acquired a new position in shares of Paycom Software during the first quarter worth about $4,397,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Company Profile

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.