Royal Bank Of Canada assumed coverage on shares of Paycom Software Inc. (NYSE:PAYC) in a research note published on Friday. The firm issued a sector perform rating and a $54.00 price objective on the stock.
A number of other research firms have also commented on PAYC. 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 note on Tuesday, September 13th. TheStreet lowered Paycom Software from a buy rating to a hold rating in a research note on Wednesday, August 3rd. Stifel Nicolaus raised their price objective on Paycom Software from $47.00 to $50.00 and gave the stock a buy rating in a research note on Thursday, June 16th. Canaccord Genuity restated a buy rating and set a $55.00 price objective on shares of Paycom Software in a research note on Thursday, August 4th. Finally, Credit Suisse Group AG reiterated a buy rating and issued a $51.00 price target on shares of Paycom Software in a research note on Monday, August 22nd. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of Buy and an average price target of $52.38.
Shares of Paycom Software (NYSE:PAYC) opened at 48.83 on Friday. Paycom Software has a 12-month low of $22.42 and a 12-month high of $52.93. The company has a 50-day moving average price of $49.97 and a 200-day moving average price of $43.52. The company has a market cap of $2.81 billion, a P/E ratio of 76.42 and a beta of 2.01.
Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.08. Paycom Software had a return on equity of 33.66% and a net margin of 13.36%. The firm had revenue of $73.88 million for the quarter, compared to analyst estimates of $70.34 million. During the same quarter last year, the company earned $0.10 EPS. The company’s revenue was up 50.9% on a year-over-year basis. On average, 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 Paycom Software stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $52.08, for a total transaction of $2,864,400.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Craig E. Boelte sold 40,000 shares of Paycom Software stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $51.29, for a total value of $2,051,600.00. The disclosure for this sale can be found here. Corporate insiders own 18.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in PAYC. BlackRock Institutional Trust Company N.A. increased its position in shares of Paycom Software by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 833,514 shares of the company’s stock valued at $29,673,000 after buying an additional 6,202 shares during the last quarter. RS Investment Management Co. LLC increased its position in shares of Paycom Software by 15.2% in the second quarter. RS Investment Management Co. LLC now owns 885,154 shares of the company’s stock valued at $38,248,000 after buying an additional 116,486 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Paycom Software by 4,492.2% in the first quarter. JPMorgan Chase & Co. now owns 158,890 shares of the company’s stock valued at $5,656,000 after buying an additional 155,430 shares during the last quarter. BlackRock Group LTD increased its position in shares of Paycom Software by 33.6% in the first quarter. BlackRock Group LTD now owns 21,140 shares of the company’s stock valued at $752,000 after buying an additional 5,315 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Paycom Software during the first quarter valued at approximately $656,000. 80.42% of the stock is currently owned by hedge funds and other institutional investors.
About Paycom Software
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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