Paycom Software, Inc. (PAYC) Lowered to “Neutral” at Credit Suisse Group AG

Credit Suisse Group AG cut shares of Paycom Software, Inc. (NYSE:PAYC) from an outperform rating to a neutral rating in a report issued on Wednesday morning. The brokerage currently has $78.00 price target on the software maker’s stock.

A number of other research firms have also commented on PAYC. Northland Securities set a $85.00 price target on Paycom Software and gave the company a buy rating in a research report on Wednesday. Jefferies Group LLC upped their price target on Paycom Software from $85.00 to $95.00 and gave the company a buy rating in a research report on Wednesday. Canaccord Genuity upped their price target on Paycom Software from $80.00 to $85.00 and gave the company a buy rating in a research report on Wednesday, August 2nd. Oppenheimer Holdings, Inc. upped their price target on Paycom Software from $65.00 to $75.00 and gave the company an outperform rating in a research report on Wednesday, August 2nd. Finally, Royal Bank Of Canada reaffirmed a sector perform rating and set a $74.00 price target (up previously from $67.00) on shares of Paycom Software in a research report on Wednesday, August 2nd. Six 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 company’s stock. Paycom Software presently has a consensus rating of Buy and a consensus target price of $82.12.

Paycom Software (NYSE:PAYC) last released its earnings results on Tuesday, October 31st. The software maker reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. Paycom Software had a return on equity of 46.01% and a net margin of 15.37%. The company had revenue of $101.30 million during the quarter, compared to analyst estimates of $100.47 million. During the same quarter in the previous year, the company posted $0.15 EPS. Paycom Software’s revenue for the quarter was up 31.0% on a year-over-year basis.

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In other Paycom Software news, insider Stacey M. Pezold sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $75.02, for a total transaction of $750,200.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeffrey D. York sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $74.81, for a total value of $2,992,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 61,000 shares of company stock worth $4,564,520 in the last quarter. Company insiders own 17.90% of the company’s stock.

Several institutional investors have recently bought and sold shares of PAYC. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Paycom Software by 10.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,835 shares of the software maker’s stock worth $126,000 after buying an additional 167 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Paycom Software by 7.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,220 shares of the software maker’s stock worth $152,000 after buying an additional 150 shares during the last quarter. Fortaleza Asset Management Inc. purchased a new stake in shares of Paycom Software in the 3rd quarter worth approximately $164,000. Raymond James Trust N.A. purchased a new stake in shares of Paycom Software in the 2nd quarter worth approximately $203,000. Finally, Fiduciary Trust Co. purchased a new stake in shares of Paycom Software in the 2nd quarter worth approximately $215,000. Institutional investors own 86.42% 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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