Paycom Software Inc (NYSE:PAYC)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $111.84 and last traded at $111.86, with a volume of 166255 shares traded. The stock had previously closed at $109.52.
A number of equities analysts recently issued reports on PAYC shares. Zacks Investment Research upgraded Paycom Software from a “hold” rating to a “strong-buy” rating and set a $97.00 target price on the stock in a report on Friday, February 9th. Northland Securities set a $101.00 target price on Paycom Software and gave the stock a “buy” rating in a report on Thursday, January 11th. KeyCorp reiterated a “buy” rating and issued a $105.00 target price on shares of Paycom Software in a report on Monday, February 12th. Credit Suisse Group increased their target price on Paycom Software from $82.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. Finally, Bank of America increased their target price on Paycom Software from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Paycom Software presently has an average rating of “Buy” and a consensus price target of $89.78.
The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.25. The firm has a market cap of $6,520.00, a P/E ratio of 97.27, a price-to-earnings-growth ratio of 2.31 and a beta of 1.55.
Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.05. Paycom Software had a return on equity of 46.27% and a net margin of 15.43%. The business had revenue of $114.00 million for the quarter, compared to analysts’ expectations of $113.01 million. During the same period last year, the business earned $0.18 EPS. The business’s revenue was up 29.8% on a year-over-year basis. sell-side analysts expect that Paycom Software Inc will post 1.85 earnings per share for the current fiscal year.
Paycom Software declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 13th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the software maker to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
In other news, CFO Craig E. Boelte sold 11,000 shares of Paycom Software stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $98.45, for a total transaction of $1,082,950.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert J. Levenson sold 18,750 shares of Paycom Software stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $88.89, for a total value of $1,666,687.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,750 shares of company stock worth $9,388,528. Company insiders own 17.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PAYC. Aperio Group LLC bought a new stake in shares of Paycom Software during the 4th quarter worth $201,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Paycom Software by 49.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,743 shares of the software maker’s stock worth $220,000 after purchasing an additional 908 shares during the period. Ramsey Quantitative Systems bought a new stake in shares of Paycom Software during the 4th quarter worth $237,000. Cetera Advisors LLC bought a new stake in shares of Paycom Software during the 4th quarter worth $241,000. Finally, Polen Capital Management LLC bought a new stake in shares of Paycom Software during the 4th quarter worth $276,000. Institutional investors own 87.73% of the company’s stock.
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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.
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