Several other analysts have also commented on PAYC. Canaccord Genuity increased their price target on shares of Paycom Software from $80.00 to $85.00 and gave the company a buy rating in a research report on Wednesday, August 2nd. Royal Bank Of Canada reaffirmed a sector perform rating and issued a $74.00 price objective (up from $67.00) on shares of Paycom Software in a research report on Wednesday, August 2nd. Oppenheimer Holdings, Inc. increased their price objective on shares of Paycom Software from $65.00 to $75.00 and gave the company an outperform rating in a research report on Wednesday, August 2nd. BidaskClub raised shares of Paycom Software from a buy rating to a strong-buy rating in a research report on Thursday, August 24th. Finally, Zacks Investment Research lowered shares of Paycom Software from a buy rating to a hold rating in a research report on Friday, August 25th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $76.63.
Shares of Paycom Software (NYSE:PAYC) opened at 79.58 on Friday. The firm’s 50 day moving average is $75.77 and its 200-day moving average is $68.87. The company has a market cap of $4.61 billion, a PE ratio of 86.31 and a beta of 1.72. Paycom Software has a 1-year low of $39.15 and a 1-year high of $79.98.
Paycom Software (NYSE:PAYC) last issued its earnings results on Tuesday, August 1st. The software maker reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.11. The company had revenue of $98.20 million for the quarter, compared to analysts’ expectations of $95.98 million. Paycom Software had a net margin of 14.28% and a return on equity of 35.77%. The firm’s quarterly revenue was up 32.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.21 EPS. Equities analysts expect that Paycom Software will post $1.15 earnings per share for the current year.
In other Paycom Software news, insider Stacey M. Pezold sold 10,000 shares of Paycom Software stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $75.02, for a total value of $750,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Craig E. Boelte sold 11,000 shares of Paycom Software stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $74.72, for a total value of $821,920.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,000 shares of company stock worth $4,564,520. 17.90% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the company. Eqis Capital Management Inc. grew its position in shares of Paycom Software by 13.8% during the third quarter. Eqis Capital Management Inc. now owns 5,676 shares of the software maker’s stock worth $425,000 after buying an additional 687 shares in the last quarter. Lord Abbett & CO. LLC grew its position in shares of Paycom Software by 43.6% during the second quarter. Lord Abbett & CO. LLC now owns 562,989 shares of the software maker’s stock worth $38,514,000 after buying an additional 170,932 shares in the last quarter. HWG Holdings LP grew its position in shares of Paycom Software by 100.0% during the second quarter. HWG Holdings LP now owns 34,223 shares of the software maker’s stock worth $2,341,000 after buying an additional 17,110 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Paycom Software during the second quarter worth about $455,000. Finally, Koch Industries Inc. acquired a new position in shares of Paycom Software during the second quarter worth about $271,000. 86.05% of the stock is owned by institutional investors and hedge funds.
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.
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