Paycom Software, Inc. (NYSE:PAYC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday, November 3rd. The firm presently has a $87.00 target price on the software maker’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 2.62% from the stock’s previous close.
According to Zacks, “Provider of cloud-based HCM software as a service solution, Paycom has outperformed the broader market over the last one year. The company reported outstanding third-quarter 2017 results and provided an encouraging fourth-quarter and full-year 2017 revenue guidance. Revenue growth seems to be steady and was positively impacted by higher recurring revenues and higher traction in cloud-based offerings. Better-than-expected demand for advanced human capital management and payroll software solutions during the reported quarter were the other positives. Going ahead, Paycom might witness long-term growth by successfully cross-selling newer products to the existing client base, which will boost revenues. Nevertheless, competition from companies likes Paylocity Holding Corporation, Intuit Inc. and Paychex, Inc. remains a headwind.”
Several other analysts also recently weighed in on PAYC. Canaccord Genuity boosted their target price on shares of Paycom Software from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. KeyCorp boosted their target price on shares of Paycom Software to $94.00 in a research note on Wednesday, August 2nd. BidaskClub upgraded shares of Paycom Software from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 24th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $74.00 target price (up from $67.00) on shares of Paycom Software in a research note on Wednesday, August 2nd. Finally, Oppenheimer Holdings, Inc. upped their price objective on shares of Paycom Software from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $83.44.
Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Tuesday, October 31st. The software maker reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. Paycom Software had a net margin of 15.37% and a return on equity of 44.27%. The company had revenue of $101.30 million during the quarter, compared to analyst estimates of $100.47 million. During the same quarter last year, the business posted $0.15 EPS. The firm’s revenue for the quarter was up 31.0% on a year-over-year basis. equities research analysts forecast that Paycom Software will post 0.82 earnings per share for the current year.
In other news, insider Stacey M. Pezold sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $75.02, for a total transaction of $750,200.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Craig E. Boelte sold 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $74.72, for a total transaction of $821,920.00. The disclosure for this sale can be found here. Insiders sold 61,000 shares of company stock worth $4,564,520 over the last quarter. 17.90% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Paycom Software by 10.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,835 shares of the software maker’s stock valued at $126,000 after buying an additional 167 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Paycom Software by 7.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,220 shares of the software maker’s stock valued at $152,000 after buying an additional 150 shares during the last quarter. Fortaleza Asset Management Inc. purchased a new position in Paycom Software in the 3rd quarter valued at $164,000. Raymond James Trust N.A. purchased a new position in Paycom Software in the 2nd quarter valued at $203,000. Finally, Fiduciary Trust Co. purchased a new position in Paycom Software in the 2nd quarter valued at $215,000. Institutional investors and hedge funds own 88.57% of the company’s stock.
About Paycom Software
Paycom Software, Inc is a provider of a cloud-based human capital management (HCM) software solution delivered as Software-as-a-Service (SaaS). The Company provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. The Company’s applications streamline client processes and provide clients and their employees with the ability to directly access and manage administrative processes, including applications that identify candidates, on-board employees, manage time and labor, administer payroll deductions and benefits, manage performance, terminate employees and administer post-termination health benefits, such as COBRA.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Paycom Software Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paycom Software Inc. and related companies with our FREE daily email newsletter.