Paycom Software (NYSE:PAYC) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Paycom Software (NYSE:PAYC – Get Rating) in a research note issued to investors on Thursday morning. The firm issued a hold rating on the software maker’s stock.

Several other equities research analysts have also weighed in on the stock. Piper Sandler increased their price objective on shares of Paycom Software from $395.00 to $417.00 and gave the stock an overweight rating in a research note on Wednesday, February 8th. Needham & Company LLC restated a buy rating and issued a $450.00 price target on shares of Paycom Software in a research note on Wednesday, February 8th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Paycom Software from $425.00 to $400.00 and set a buy rating on the stock in a research note on Monday, January 23rd. Mizuho restated a neutral rating and issued a $350.00 price target on shares of Paycom Software in a research note on Wednesday, February 8th. Finally, Moffett Nathanson initiated coverage on shares of Paycom Software in a research note on Monday, January 9th. They issued an underperform rating and a $310.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $387.00.

Paycom Software Price Performance

PAYC opened at $276.94 on Thursday. The firm has a market cap of $16.71 billion, a price-to-earnings ratio of 57.10, a price-to-earnings-growth ratio of 1.87 and a beta of 1.39. Paycom Software has a fifty-two week low of $255.82 and a fifty-two week high of $402.78. The company’s 50-day moving average price is $305.81 and its 200 day moving average price is $319.78. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.02.

Paycom Software (NYSE:PAYC – Get Rating) last released its quarterly earnings data on Tuesday, February 7th. The software maker reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.24. The firm had revenue of $370.61 million for the quarter, compared to analyst estimates of $366.71 million. Paycom Software had a net margin of 20.46% and a return on equity of 25.62%. Paycom Software’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.82 earnings per share. As a group, sell-side analysts expect that Paycom Software will post 5.98 earnings per share for the current year.

Insider Activity

In other news, Director Jason D. Clark sold 1,070 shares of the stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $278.33, for a total value of $297,813.10. Following the completion of the transaction, the director now directly owns 4,741 shares in the company, valued at $1,319,562.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 15.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. bought a new stake in Paycom Software during the fourth quarter worth approximately $26,000. Compagnie Lombard Odier SCmA bought a new stake in Paycom Software during the fourth quarter worth approximately $26,000. Accurate Wealth Management LLC bought a new stake in Paycom Software during the fourth quarter worth approximately $29,000. General Partner Inc. bought a new stake in Paycom Software during the fourth quarter worth approximately $33,000. Finally, Ellevest Inc. boosted its holdings in Paycom Software by 89.8% during the third quarter. Ellevest Inc. now owns 112 shares of the software maker’s stock worth $37,000 after buying an additional 53 shares in the last quarter. 88.58% of the stock is currently owned by institutional investors.

About Paycom Software

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Paycom Software, Inc engages in the provision of cloud-based human capital management (HCM) software solutions delivered as Software-as-a-Service. It offers functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. Its solutions include talent acquisition, time and labor management, payroll, talent management, and human resource management.