Paycom Software (NYSE:PAYC) Upgraded at ValuEngine

Paycom Software (NYSE:PAYC) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.

PAYC has been the topic of a number of other research reports. Mizuho began coverage on shares of Paycom Software in a research report on Wednesday, August 21st. They set a “neutral” rating and a $240.00 target price on the stock. Royal Bank of Canada increased their target price on shares of Paycom Software to $230.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Bank of America restated a “neutral” rating and set a $250.00 target price (up previously from $215.00) on shares of Paycom Software in a research report on Wednesday, July 31st. KeyCorp decreased their target price on shares of Paycom Software from $275.00 to $261.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Oppenheimer increased their target price on shares of Paycom Software from $220.00 to $255.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $238.00.

Shares of PAYC opened at $226.62 on Thursday. Paycom Software has a 52 week low of $107.46 and a 52 week high of $259.71. The firm has a market cap of $12.76 billion, a P/E ratio of 103.95, a price-to-earnings-growth ratio of 2.82 and a beta of 1.37. The firm’s 50-day simple moving average is $211.07 and its 200 day simple moving average is $222.16. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.10.

Paycom Software (NYSE:PAYC) last announced its earnings results on Tuesday, October 29th. The software maker reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.12. Paycom Software had a net margin of 23.99% and a return on equity of 38.52%. The firm had revenue of $175.00 million for the quarter, compared to analyst estimates of $171.46 million. During the same quarter in the prior year, the business posted $0.52 EPS. The business’s revenue was up 31.3% compared to the same quarter last year. As a group, equities analysts forecast that Paycom Software will post 2.81 earnings per share for the current year.

In related news, insider Jeffrey D. York sold 25,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $212.78, for a total transaction of $5,319,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 16.09% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of PAYC. Cookson Peirce & Co. Inc. lifted its stake in Paycom Software by 109.9% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 150,423 shares of the software maker’s stock valued at $34,104,000 after purchasing an additional 78,769 shares during the last quarter. Northern Trust Corp lifted its stake in Paycom Software by 27.2% in the 2nd quarter. Northern Trust Corp now owns 310,648 shares of the software maker’s stock valued at $70,430,000 after purchasing an additional 66,489 shares during the last quarter. Teza Capital Management LLC bought a new position in Paycom Software in the 2nd quarter valued at approximately $210,000. Aperio Group LLC lifted its stake in Paycom Software by 25.9% in the 2nd quarter. Aperio Group LLC now owns 6,476 shares of the software maker’s stock valued at $1,468,000 after purchasing an additional 1,332 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Paycom Software by 34.5% in the 2nd quarter. Wells Fargo & Company MN now owns 297,793 shares of the software maker’s stock valued at $67,516,000 after purchasing an additional 76,313 shares during the last quarter. Institutional investors and hedge funds own 72.55% of the company’s stock.

About Paycom Software

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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Analyst Recommendations for Paycom Software (NYSE:PAYC)

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