RBC Capital Markets initiated coverage on shares of Paycom Software Inc. (NYSE:PAYC) in a report released on Friday morning. The firm issued a sector perform rating and a $54.00 target price on the stock.
PAYC has been the subject of a number of other research reports. Credit Suisse Group AG reiterated a buy rating and set a $51.00 price target on shares of Paycom Software in a research note on Monday, August 22nd. Zacks Investment Research cut shares of Paycom Software from a buy rating to a hold rating in a research note on Wednesday, July 6th. Barclays PLC restated an overweight rating and set a $55.00 price objective (up previously from $51.00) on shares of Paycom Software in a research report on Tuesday, September 13th. TheStreet downgraded shares of Paycom Software from a buy rating to a hold rating in a research report on Wednesday, August 3rd. Finally, Wunderlich restated a buy rating on shares of Paycom Software in a research report on Wednesday, July 6th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $52.38.
Paycom Software (NYSE:PAYC) traded down 0.80% during trading on Friday, hitting $49.73. 48,649 shares of the stock were exchanged. Paycom Software has a 12 month low of $22.42 and a 12 month high of $52.93. The stock’s 50 day moving average price is $50.10 and its 200 day moving average price is $43.09. The stock has a market cap of $2.86 billion, a P/E ratio of 77.82 and a beta of 2.02.
Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.08. The firm earned $73.88 million during the quarter, compared to analysts’ expectations of $70.34 million. Paycom Software had a net margin of 13.36% and a return on equity of 33.66%. Paycom Software’s quarterly revenue was up 50.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 EPS. Analysts forecast that Paycom Software will post $0.77 EPS for the current fiscal year.
In other Paycom Software news, insider William X. Kerber III sold 55,000 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $52.08, for a total transaction of $2,864,400.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Craig E. Boelte sold 40,000 shares of the firm’s stock in a transaction dated 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. 18.70% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in PAYC. Tower Research Capital LLC TRC boosted its stake 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 in the last quarter. Royal Bank of Canada boosted its stake 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 in the last quarter. Envestnet Asset Management Inc. boosted its stake 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 in the last quarter. BlackRock Inc. boosted its stake 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 in the last quarter. Finally, Amalgamated Bank purchased a new stake in Paycom Software during the second quarter valued at about $235,000. 80.42% of the stock is currently owned by institutional investors.
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.
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