KeyCorp Reaffirms “Hold” Rating for Paycom Software, Inc. (PAYC)

KeyCorp reiterated their hold rating on shares of Paycom Software, Inc. (NYSE:PAYC) in a research note issued to investors on Friday morning.

A number of other equities analysts have also recently weighed in on PAYC. Credit Suisse Group reaffirmed a buy rating on shares of Paycom Software in a research report on Monday, July 3rd. BidaskClub cut shares of Paycom Software from a strong-buy rating to a buy rating in a research report on Thursday, June 29th. Jefferies Group LLC reaffirmed a buy rating and set a $73.00 price objective on shares of Paycom Software in a research report on Thursday, June 8th. Barclays PLC increased their price objective on shares of Paycom Software from $74.00 to $82.00 and gave the stock an overweight rating in a research report on Wednesday, September 13th. Finally, Robert W. Baird reaffirmed a buy rating and set a $78.00 price objective on shares of Paycom Software in a research report on Tuesday, September 12th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $76.63.

Paycom Software (NYSE:PAYC) opened at 77.79 on Friday. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 84.37 and a beta of 1.72. Paycom Software has a 12 month low of $39.15 and a 12 month high of $77.89. The firm’s 50 day moving average price is $74.29 and its 200 day moving average price is $67.45.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.11. The business had revenue of $98.20 million during the quarter, compared to the consensus estimate of $95.98 million. Paycom Software had a net margin of 14.28% and a return on equity of 35.77%. The business’s revenue was up 32.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 EPS. On average, equities research analysts predict that Paycom Software will post $1.15 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another domain, it was stolen and reposted in violation of US and international copyright and trademark law. The original version of this piece can be accessed at https://ledgergazette.com/2017/10/09/keycorp-reaffirms-hold-rating-for-paycom-software-inc-payc.html.

In related news, insider Jeffrey D. York sold 40,000 shares of Paycom Software stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $74.81, for a total transaction of $2,992,400.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Craig E. Boelte sold 11,000 shares of Paycom Software stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $74.72, for a total transaction of $821,920.00. The disclosure for this sale can be found here. Insiders have sold a total of 61,000 shares of company stock worth $4,564,520 over the last quarter. 17.90% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Paycom Software by 10.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,835 shares of the software maker’s stock valued at $126,000 after purchasing an additional 167 shares during the period. PNC Financial Services Group Inc. increased its stake in Paycom Software by 7.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,220 shares of the software maker’s stock valued at $152,000 after purchasing an additional 150 shares during the period. Raymond James Trust N.A. acquired a new position in Paycom Software in the second quarter valued at $203,000. Strs Ohio increased its stake in Paycom Software by 342.9% in the first quarter. Strs Ohio now owns 3,100 shares of the software maker’s stock valued at $178,000 after purchasing an additional 2,400 shares during the period. Finally, Fiduciary Trust Co. acquired a new position in Paycom Software in the second quarter valued at $215,000. Hedge funds and other institutional investors own 86.05% of the company’s stock.

About Paycom Software

Paycom Software, Inc is a provider of a cloud-based human capital management (HCM) software solution delivered as Software-as-a-Ser

A number of other equities analysts have also recently weighed in on PAYC. Credit Suisse Group reaffirmed a buy rating on shares of Paycom Software in a research report on Monday, July 3rd. BidaskClub cut shares of Paycom Software from a strong-buy rating to a buy rating in a research report on Thursday, June 29th. Jefferies Group LLC reaffirmed a buy rating and set a $73.00 price objective on shares of Paycom Software in a research report on Thursday, June 8th. Barclays PLC increased their price objective on shares of Paycom Software from $74.00 to $82.00 and gave the stock an overweight rating in a research report on Wednesday, September 13th. Finally, Robert W. Baird reaffirmed a buy rating and set a $78.00 price objective on shares of Paycom Software in a research report on Tuesday, September 12th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $76.63.

Paycom Software (NYSE:PAYC) opened at 77.79 on Friday. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 84.37 and a beta of 1.72. Paycom Software has a 12 month low of $39.15 and a 12 month high of $77.89. The firm’s 50 day moving average price is $74.29 and its 200 day moving average price is $67.45.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.11. The business had revenue of $98.20 million during the quarter, compared to the consensus estimate of $95.98 million. Paycom Software had a net margin of 14.28% and a return on equity of 35.77%. The business’s revenue was up 32.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 EPS. On average, equities research analysts predict that Paycom Software will post $1.15 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another domain, it was stolen and reposted in violation of US and international copyright and trademark law. The original version of this piece can be accessed at https://ledgergazette.com/2017/10/09/keycorp-reaffirms-hold-rating-for-paycom-software-inc-payc.html.

In related news, insider Jeffrey D. York sold 40,000 shares of Paycom Software stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $74.81, for a total transaction of $2,992,400.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Craig E. Boelte sold 11,000 shares of Paycom Software stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $74.72, for a total transaction of $821,920.00. The disclosure for this sale can be found here. Insiders have sold a total of 61,000 shares of company stock worth $4,564,520 over the last quarter. 17.90% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Paycom Software by 10.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,835 shares of the software maker’s stock valued at $126,000 after purchasing an additional 167 shares during the period. PNC Financial Services Group Inc. increased its stake in Paycom Software by 7.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,220 shares of the software maker’s stock valued at $152,000 after purchasing an additional 150 shares during the period. Raymond James Trust N.A. acquired a new position in Paycom Software in the second quarter valued at $203,000. Strs Ohio increased its stake in Paycom Software by 342.9% in the first quarter. Strs Ohio now owns 3,100 shares of the software maker’s stock valued at $178,000 after purchasing an additional 2,400 shares during the period. Finally, Fiduciary Trust Co. acquired a new position in Paycom Software in the second quarter valued at $215,000. Hedge funds and other institutional investors own 86.05% of the company’s stock.

About Paycom Software

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.

Analyst Recommendations for Paycom Software (NYSE:PAYC)

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