Paycom Software, Inc. (PAYC) Given a $85.00 Price Target by Northland Securities Analysts

Paycom Software, Inc. (NYSE:PAYC) has been given a $85.00 price objective by analysts at Northland Securities in a report issued on Wednesday. The firm currently has a “buy” rating on the software maker’s stock. Northland Securities’ price target would indicate a potential upside of 5.87% from the stock’s previous close.

A number of other equities research analysts have also commented on PAYC. Mizuho lowered Paycom Software from a “buy” rating to a “neutral” rating and set a $70.00 price target on the stock. in a research report on Monday, July 10th. Barclays PLC restated a “buy” rating and set a $74.00 price target on shares of Paycom Software in a research report on Wednesday, July 19th. Royal Bank Of Canada restated a “sector perform” rating and set a $74.00 price target (up from $67.00) on shares of Paycom Software in a research report on Wednesday, August 2nd. Stifel Nicolaus increased their price target on Paycom Software from $67.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, Oppenheimer Holdings, Inc. increased their price target on Paycom Software from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $82.94.

Paycom Software (NYSE:PAYC) traded up $2.99 during midday trading on Wednesday, reaching $80.29. The company had a trading volume of 424,857 shares, compared to its average volume of 504,069. The firm has a market cap of $4.62 billion, a P/E ratio of 74.08 and a beta of 1.73.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Tuesday, October 31st. The software maker reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.10. The business had revenue of $101.30 million for the quarter, compared to analyst estimates of $100.47 million. Paycom Software had a return on equity of 46.01% and a net margin of 15.37%. Paycom Software’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.15 EPS. equities research analysts forecast that Paycom Software will post 0.79 EPS for the current fiscal year.

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In related news, CFO Craig E. Boelte sold 11,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $74.72, for a total value of $821,920.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey D. York sold 40,000 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $74.81, for a total transaction of $2,992,400.00. The disclosure for this sale can be found here. In the last three months, insiders sold 61,000 shares of company stock worth $4,564,520. 17.90% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. increased its position in shares of Paycom Software by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 8,542 shares of the software maker’s stock valued at $584,000 after buying an additional 22 shares in the last quarter. Renaissance Group LLC increased its position in shares of Paycom Software by 0.7% in the 2nd quarter. Renaissance Group LLC now owns 6,156 shares of the software maker’s stock valued at $421,000 after buying an additional 42 shares in the last quarter. 1st Global Advisors Inc. increased its position in shares of Paycom Software by 1.4% in the 2nd quarter. 1st Global Advisors Inc. now owns 5,567 shares of the software maker’s stock valued at $381,000 after buying an additional 75 shares in the last quarter. Suntrust Banks Inc. increased its position in shares of Paycom Software by 0.6% in the 2nd quarter. Suntrust Banks Inc. now owns 14,130 shares of the software maker’s stock valued at $966,000 after buying an additional 91 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position 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 valued at $152,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 86.42% of the company’s stock.

Paycom Software Company Profile

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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