Paycom Software Inc. (PAYC) Receives New Coverage from Analysts at Royal Bank Of Canada
Royal Bank Of Canada began coverage on shares of Paycom Software Inc. (NYSE:PAYC) in a research report report published on Friday. The brokerage issued a sector perform rating and a $54.00 price objective on the stock.
A number of other equities analysts also recently issued reports on PAYC. Stifel Nicolaus increased their price target on shares of Paycom Software from $47.00 to $50.00 and gave the stock a buy rating in a research note on Thursday, June 16th. Wunderlich restated a buy rating on shares of Paycom Software in a report on Wednesday, July 6th. Zacks Investment Research cut shares of Paycom Software from a buy rating to a hold rating in a report on Wednesday, July 6th. Barclays PLC upped their price objective on shares of Paycom Software from $44.00 to $51.00 and gave the stock an overweight rating in a report on Friday, July 15th. Finally, Canaccord Genuity restated a buy rating and issued a $55.00 price objective on shares of Paycom Software in a report on Thursday, August 4th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $52.38.
Shares of Paycom Software (NYSE:PAYC) traded down 0.80% on Friday, reaching $49.73. The company had a trading volume of 48,649 shares. The company’s 50-day moving average is $50.10 and its 200-day moving average is $43.09. Paycom Software has a one year low of $22.42 and a one year high of $52.93. The company has a market capitalization of $2.86 billion, a PE ratio of 77.82 and a beta of 2.02.
Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.08. Paycom Software had a net margin of 13.36% and a return on equity of 33.66%. The company earned $73.88 million during the quarter, compared to the consensus estimate of $70.34 million. During the same period in the prior year, the firm earned $0.10 earnings per share. Paycom Software’s revenue was up 50.9% on a year-over-year basis. Equities research analysts predict that Paycom Software will post $0.77 earnings per share for the current year.
In other Paycom Software news, insider William X. Kerber III sold 55,000 shares of the stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $52.08, for a total value of $2,864,400.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Craig E. Boelte sold 40,000 shares of the stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $51.29, for a total transaction of $2,051,600.00. The disclosure for this sale can be found here. Corporate insiders own 18.70% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its position in Paycom Software by 2,376.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,476 shares of the company’s stock valued at $107,000 after buying an additional 2,376 shares during the last quarter. Royal Bank of Canada increased its position in Paycom Software by 34.8% in the second quarter. Royal Bank of Canada now owns 2,826 shares of the company’s stock valued at $122,000 after buying an additional 730 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Paycom Software by 83.7% in the first quarter. Envestnet Asset Management Inc. now owns 3,673 shares of the company’s stock valued at $131,000 after buying an additional 1,673 shares during the last quarter. BlackRock Inc. increased its position in Paycom Software by 96.8% in the second quarter. BlackRock Inc. now owns 4,320 shares of the company’s stock valued at $187,000 after buying an additional 2,125 shares during the last quarter. Finally, Pinnacle Financial Partners Inc. acquired a new position in Paycom Software during the second quarter valued at $231,000. Institutional investors and hedge funds own 80.42% of the company’s stock.
Paycom Software Company Profile
Paycom Software, Inc (Paycom) is a provider of cloud-based human capital management (HCM) software solution delivered as software as a service (SaaS). The Company’s solution is based on a system of record maintained in a single database for all HCM functions, including talent acquisition, time and labor management, payroll, talent management and human resources (HR) management applications.
Receive News & Ratings for Paycom Software Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paycom Software Inc. and related companies with MarketBeat.com's FREE daily email newsletter.