Paycom Software, Inc. (NYSE:PAYC) Rating Reiterated by Royal Bank Of Canada

Paycom Software, Inc. (NYSE:PAYC)‘s stock had its “sector perform” rating reaffirmed by investment analysts at Royal Bank Of Canada in a report released on Tuesday, August 8th. They currently have a $74.00 price target on the software maker’s stock, up from their prior price target of $67.00. Royal Bank Of Canada’s target price would indicate a potential upside of 5.34% from the stock’s current price.

PAYC has been the subject of several other reports. Zacks Investment Research raised Paycom Software from a “sell” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Tuesday, April 11th. Credit Suisse Group boosted their price target on Paycom Software from $70.00 to $78.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC reissued a “buy” rating and issued a $73.00 price target on shares of Paycom Software in a research report on Thursday, June 8th. Wells Fargo & Company began coverage on Paycom Software in a research report on Thursday, May 11th. They issued an “outperform” rating and a $75.00 price target for the company. Finally, Wunderlich upped their target price on Paycom Software from $62.00 to $73.00 and gave the company a “buy” rating in a research report on Wednesday, May 3rd. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $75.36.

Shares of Paycom Software (NYSE:PAYC) traded down 0.28% during trading on Tuesday, hitting $70.25. The stock had a trading volume of 329,062 shares. The stock has a 50-day moving average price of $69.36 and a 200 day moving average price of $62.20. Paycom Software has a 12 month low of $39.15 and a 12 month high of $73.61. The company has a market cap of $4.07 billion, a P/E ratio of 76.19 and a beta of 1.75.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.11. The firm had revenue of $98.20 million during the quarter, compared to analyst estimates of $95.98 million. Paycom Software had a return on equity of 35.77% and a net margin of 14.28%. The business’s revenue for the quarter was up 32.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 EPS. Equities analysts expect that Paycom Software will post $1.15 EPS for the current fiscal year.

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In other news, insider Jeffrey D. York sold 40,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $66.93, for a total value of $2,677,200.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Stacey M. Pezold sold 30,000 shares of the company’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $70.15, for a total value of $2,104,500.00. The disclosure for this sale can be found here. 17.90% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. Capital World Investors increased its position in shares of Paycom Software by 6.7% in the second quarter. Capital World Investors now owns 6,612,914 shares of the software maker’s stock worth $452,389,000 after buying an additional 415,000 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Paycom Software by 6.8% in the second quarter. Vanguard Group Inc. now owns 3,727,860 shares of the software maker’s stock worth $255,023,000 after buying an additional 236,334 shares in the last quarter. BlackRock Inc. increased its position in shares of Paycom Software by 12.7% in the second quarter. BlackRock Inc. now owns 3,001,044 shares of the software maker’s stock worth $205,302,000 after buying an additional 338,351 shares in the last quarter. Brown Capital Management LLC increased its position in shares of Paycom Software by 16.1% in the first quarter. Brown Capital Management LLC now owns 2,627,344 shares of the software maker’s stock worth $151,099,000 after buying an additional 364,548 shares in the last quarter. Finally, State Street Corp increased its position in shares of Paycom Software by 14.0% in the second quarter. State Street Corp now owns 911,240 shares of the software maker’s stock worth $62,337,000 after buying an additional 112,148 shares in the last quarter. Institutional investors own 90.42% 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.

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