Paycom Software, Inc. (NYSE:PAYC)‘s stock had its “buy” rating restated by Robert W. Baird in a note issued to investors on Wednesday. They presently have a $82.00 target price on the software maker’s stock.
Other equities research analysts have also recently issued research reports about the company. Barclays PLC boosted their target price on Paycom Software from $74.00 to $82.00 and gave the stock an “overweight” rating in a report on Wednesday, September 13th. Northland Securities began coverage on Paycom Software in a report on Thursday, September 21st. They set an “outperform” rating and a $85.00 target price on the stock. Royal Bank Of Canada reissued a “hold” rating and set a $74.00 target price on shares of Paycom Software in a report on Wednesday, October 18th. Mizuho cut Paycom Software from a “buy” rating to a “neutral” rating and set a $70.00 target price on the stock. in a report on Monday, July 10th. Finally, KeyCorp reissued a “hold” rating on shares of Paycom Software in a report on Friday, October 6th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Paycom Software currently has an average rating of “Buy” and a consensus price target of $82.12.
Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Tuesday, October 31st. The software maker reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.10. The business had revenue of $101.30 million during the quarter, compared to the consensus estimate of $100.47 million. Paycom Software had a return on equity of 46.01% and a net margin of 15.37%. The business’s revenue was up 31.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 earnings per share.
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In other news, insider Stacey M. Pezold sold 10,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $75.02, for a total transaction of $750,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeffrey D. York sold 40,000 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was 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. Over the last 90 days, insiders have sold 61,000 shares of company stock worth $4,564,520. 17.90% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Capital World Investors boosted its holdings in Paycom Software by 6.7% during the second quarter. Capital World Investors now owns 6,612,914 shares of the software maker’s stock valued at $452,389,000 after acquiring an additional 415,000 shares during the period. Vanguard Group Inc. boosted its holdings in Paycom Software by 6.8% during the second quarter. Vanguard Group Inc. now owns 3,727,860 shares of the software maker’s stock valued at $255,023,000 after acquiring an additional 236,334 shares during the period. BlackRock Inc. boosted its holdings in Paycom Software by 12.7% during the second quarter. BlackRock Inc. now owns 3,001,044 shares of the software maker’s stock valued at $205,302,000 after acquiring an additional 338,351 shares during the period. State Street Corp boosted its holdings in Paycom Software by 14.0% during the second quarter. State Street Corp now owns 911,240 shares of the software maker’s stock valued at $62,337,000 after acquiring an additional 112,148 shares during the period. Finally, New York State Common Retirement Fund boosted its holdings in Paycom Software by 60.3% during the second quarter. New York State Common Retirement Fund now owns 748,858 shares of the software maker’s stock valued at $51,229,000 after acquiring an additional 281,778 shares during the period. Hedge funds and other 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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