Paycom Software Inc (NYSE:PAYC) has earned a consensus rating of “Hold” from the eighteen ratings firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $247.18.
Several research firms have recently issued reports on PAYC. Royal Bank of Canada lowered their price objective on Paycom Software from $240.00 to $225.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 29th. Mizuho lowered their price objective on Paycom Software to $210.00 and set a “neutral” rating for the company in a research note on Wednesday, April 29th. Needham & Company LLC raised their price objective on Paycom Software from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Citigroup raised their price target on Paycom Software from $262.00 to $315.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, Oppenheimer began coverage on Paycom Software in a research note on Wednesday, April 29th. They set a “buy” rating and a $250.00 price target for the company.
In other news, CFO Craig E. Boelte sold 1,400 shares of Paycom Software stock in a transaction on Monday, April 13th. The stock was sold at an average price of $221.06, for a total value of $309,484.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert J. Levenson sold 2,777 shares of Paycom Software stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $291.87, for a total value of $810,522.99. The disclosure for this sale can be found here. Insiders sold a total of 441,342 shares of company stock worth $118,575,414 over the last quarter. Company insiders own 16.10% of the company’s stock.
Large investors have recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. grew its stake in Paycom Software by 0.5% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,690 shares of the software maker’s stock worth $1,771,000 after buying an additional 35 shares during the last quarter. AlphaStar Capital Management LLC grew its stake in Paycom Software by 1.2% during the 1st quarter. AlphaStar Capital Management LLC now owns 3,823 shares of the software maker’s stock worth $796,000 after buying an additional 46 shares during the last quarter. Bell Bank grew its stake in Paycom Software by 1.2% during the 4th quarter. Bell Bank now owns 4,052 shares of the software maker’s stock worth $1,073,000 after buying an additional 48 shares during the last quarter. Intrust Bank NA grew its stake in Paycom Software by 1.1% during the 1st quarter. Intrust Bank NA now owns 4,648 shares of the software maker’s stock worth $939,000 after buying an additional 51 shares during the last quarter. Finally, Brinker Capital Inc. grew its stake in Paycom Software by 0.3% during the 1st quarter. Brinker Capital Inc. now owns 15,792 shares of the software maker’s stock worth $3,190,000 after buying an additional 53 shares during the last quarter. Institutional investors and hedge funds own 75.25% of the company’s stock.
Paycom Software stock traded up $9.37 during midday trading on Tuesday, reaching $309.73. 862,949 shares of the stock traded hands, compared to its average volume of 1,035,446. The stock has a market cap of $17.59 billion, a P/E ratio of 92.18, a PEG ratio of 4.68 and a beta of 1.56. Paycom Software has a 12 month low of $163.42 and a 12 month high of $342.00. The stock’s fifty day moving average is $296.21 and its 200-day moving average is $269.01. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.05.
Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Tuesday, April 28th. The software maker reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.07. The business had revenue of $242.40 million during the quarter, compared to analyst estimates of $237.93 million. Paycom Software had a return on equity of 37.04% and a net margin of 25.17%. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period last year, the company earned $1.19 EPS. On average, equities analysts predict that Paycom Software will post 2.62 EPS for the current fiscal year.
Paycom Software declared that its Board of Directors has initiated a share buyback plan on Thursday, March 12th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the software maker to repurchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
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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