Paycom Software (NYSE:PAYC) had its target price boosted by equities research analysts at Northland Securities from $215.00 to $275.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage presently has an “outperform” rating on the software maker’s stock. Northland Securities’ price objective suggests a potential upside of 12.83% from the company’s previous close.
PAYC has been the topic of several other reports. Stifel Nicolaus upped their target price on shares of Zendesk from $75.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Canaccord Genuity reaffirmed a “buy” rating and set a $10.00 target price on shares of Chembio Diagnostics in a research note on Thursday, May 2nd. KeyCorp upped their target price on shares of Paylocity from $106.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Barclays upped their target price on shares of Shopify from $155.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. Finally, Oppenheimer upped their target price on shares of Paycom Software from $175.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Paycom Software presently has a consensus rating of “Buy” and an average price target of $194.29.
PAYC traded down $0.73 during trading hours on Tuesday, hitting $243.74. 23,258 shares of the company’s stock were exchanged, compared to its average volume of 681,521. Paycom Software has a 12-month low of $100.87 and a 12-month high of $245.38. The stock’s 50 day moving average price is $220.77. The stock has a market cap of $14.04 billion, a price-to-earnings ratio of 111.35, a P/E/G ratio of 3.42 and a beta of 1.64. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.04 and a current ratio of 1.04.
Paycom Software (NYSE:PAYC) last announced its earnings results on Tuesday, April 30th. The software maker reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.07). Paycom Software had a return on equity of 39.02% and a net margin of 23.38%. The business had revenue of $199.90 million for the quarter, compared to analysts’ expectations of $195.53 million. During the same period in the previous year, the company earned $0.95 earnings per share. Paycom Software’s quarterly revenue was up 29.9% on a year-over-year basis. Analysts predict that Paycom Software will post 2.6 earnings per share for the current fiscal year.
In other Paycom Software news, COO Jon Evans sold 2,047 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $200.30, for a total value of $410,014.10. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Bradley Scott Smith sold 2,600 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $200.95, for a total transaction of $522,470.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,120 shares of company stock worth $7,000,605. Insiders own 16.09% of the company’s stock.
Several large investors have recently made changes to their positions in the business. Global Retirement Partners LLC boosted its stake in Paycom Software by 100.0% during the 1st quarter. Global Retirement Partners LLC now owns 200 shares of the software maker’s stock worth $38,000 after purchasing an additional 100 shares during the period. CWM LLC acquired a new stake in Paycom Software during the 1st quarter worth $45,000. Pittenger & Anderson Inc. boosted its stake in Paycom Software by 1,125.0% during the 1st quarter. Pittenger & Anderson Inc. now owns 245 shares of the software maker’s stock worth $46,000 after purchasing an additional 225 shares during the period. Icon Wealth Partners LLC acquired a new stake in Paycom Software during the 1st quarter worth $53,000. Finally, Nordea Investment Management AB acquired a new stake in Paycom Software during the 1st quarter worth $59,000. 74.38% of the stock is currently owned by institutional investors.
Paycom Software Company Profile
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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