Paycom Software (NYSE:PAYC) Stock Rating Upgraded by 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 analysts have also recently weighed in on PAYC. Barclays reduced their target price on Paycom Software from $150.00 to $148.00 and set an “equal weight” rating on the stock in a report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Paycom Software in a report on Friday, May 1st. TD Cowen lifted their target price on Paycom Software from $148.00 to $154.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Cantor Fitzgerald lifted their target price on Paycom Software from $115.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, March 6th. Finally, Jefferies Financial Group reduced their price objective on Paycom Software from $190.00 to $130.00 and set a “hold” rating on the stock in a research note on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Paycom Software has a consensus rating of “Hold” and an average target price of $159.67.

Paycom Software Price Performance

Shares of NYSE:PAYC opened at $141.29 on Monday. The company has a market cap of $6.73 billion, a P/E ratio of 16.33, a P/E/G ratio of 1.22 and a beta of 0.77. 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 has a 52 week low of $104.90 and a 52 week high of $267.76. The business has a fifty day simple moving average of $126.80 and a 200-day simple moving average of $142.68.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, May 6th. The software maker reported $3.15 EPS for the quarter, beating analysts’ consensus estimates of $2.99 by $0.16. The business had revenue of $571.80 million during the quarter, compared to the consensus estimate of $564.37 million. Paycom Software had a return on equity of 28.34% and a net margin of 22.44%.The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.80 earnings per share. Equities research analysts forecast that Paycom Software will post 9.09 EPS for the current year.

Institutional Trading of Paycom Software

Several hedge funds and other institutional investors have recently bought and sold shares of PAYC. Reinhart Partners LLC. increased its holdings in Paycom Software by 887.4% in the fourth quarter. Reinhart Partners LLC. now owns 598,323 shares of the software maker’s stock valued at $95,351,000 after buying an additional 537,726 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in Paycom Software by 10,106.6% in the third quarter. Allianz Asset Management GmbH now owns 486,957 shares of the software maker’s stock valued at $101,355,000 after buying an additional 482,186 shares during the last quarter. Contour Asset Management LLC bought a new stake in Paycom Software in the fourth quarter valued at about $60,333,000. Two Sigma Investments LP increased its holdings in Paycom Software by 228.7% in the third quarter. Two Sigma Investments LP now owns 532,124 shares of the software maker’s stock valued at $110,756,000 after buying an additional 370,219 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Paycom Software by 28.2% in the fourth quarter. Invesco Ltd. now owns 1,559,682 shares of the software maker’s stock valued at $248,551,000 after buying an additional 343,494 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

About Paycom Software

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.