Paycom Software, Inc. (PAYC) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Paycom Software, Inc. (NYSE:PAYC) from a hold rating to a buy rating in a report published on Friday morning. The firm currently has $87.00 price objective on the software maker’s stock.
According to Zacks, “Provider of cloud-based HCM software as a service solution, Paycom has outperformed the broader market over the last one year. The company reported outstanding third-quarter 2017 results and provided an encouraging fourth-quarter and full-year 2017 revenue guidance. Revenue growth seems to be steady and was positively impacted by higher recurring revenues and higher traction in cloud-based offerings. Better-than-expected demand for advanced human capital management and payroll software solutions during the reported quarter were the other positives. Going ahead, Paycom might witness long-term growth by successfully cross-selling newer products to the existing client base, which will boost revenues. Nevertheless, competition from companies likes Paylocity Holding Corporation, Intuit Inc. and Paychex, Inc. remains a headwind.”
A number of other equities research analysts have also issued reports on PAYC. Credit Suisse Group lowered Paycom Software from an outperform rating to a neutral rating and set a $78.00 price target for the company. in a research report on Wednesday, November 1st. Oppenheimer Holdings, Inc. restated a buy rating and issued a $88.00 price target (up from $75.00) on shares of Paycom Software in a research report on Wednesday, November 1st. Northland Securities set a $85.00 price target on Paycom Software and gave the company a buy rating in a research report on Wednesday, November 1st. KeyCorp reiterated a hold rating on shares of Paycom Software in a research report on Wednesday, November 1st. Finally, Canaccord Genuity increased their price objective on Paycom Software from $80.00 to $85.00 and gave the stock a buy rating in a research report on Wednesday, August 2nd. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Paycom Software has a consensus rating of Buy and a consensus target price of $83.44.
Paycom Software (NYSE PAYC) traded up $1.79 during mid-day trading on Friday, hitting $82.08. The stock had a trading volume of 216,523 shares, compared to its average volume of 507,408. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $4,678.03, a price-to-earnings ratio of 75.04, a PEG ratio of 3.50 and a beta of 1.73. Paycom Software has a 1-year low of $39.15 and a 1-year high of $82.59.
Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Tuesday, October 31st. The software maker reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. The business had revenue of $101.30 million during the quarter, compared to analyst estimates of $100.47 million. Paycom Software had a return on equity of 44.27% and a net margin of 15.37%. The business’s revenue was up 31.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.15 earnings per share. equities research analysts forecast that Paycom Software will post 0.82 earnings per share for the current fiscal year.
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In other news, insider Stacey M. Pezold sold 10,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $75.02, for a total value of $750,200.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey D. York sold 40,000 shares of the stock in a transaction on Monday, October 2nd. The shares were 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 61,000 shares of company stock worth $4,564,520 over the last 90 days. 17.90% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in PAYC. BlackRock Inc. raised its stake in shares of Paycom Software by 74,069.7% in the first quarter. BlackRock Inc. now owns 2,662,693 shares of the software maker’s stock valued at $153,132,000 after acquiring an additional 2,659,103 shares in the last quarter. Capital World Investors raised its stake in shares of Paycom Software by 6.7% in 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 in the last quarter. New York State Common Retirement Fund raised its stake in shares of Paycom Software by 60.3% in 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 in the last quarter. Koch Industries Inc. acquired a new stake in shares of Paycom Software in the second quarter valued at $271,000. Finally, Vanguard Group Inc. raised its stake in shares of Paycom Software by 6.8% in 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 in the last quarter. Institutional investors and hedge funds own 86.36% 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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