Paycom (NYSE:PAYC) had its price objective boosted by Dougherty & Co from $100.00 to $125.00 in a research note issued to investors on Monday, April 9th, Marketbeat reports. They currently have a buy rating on the software maker’s stock.
A number of other brokerages have also recently weighed in on PAYC. Zacks Investment Research upgraded shares of Paycom from a hold rating to a strong-buy rating and set a $97.00 target price for the company in a report on Friday, February 9th. Northland Securities set a $101.00 price target on shares of Paycom and gave the company a buy rating in a report on Thursday, January 11th. Oppenheimer raised their price target on shares of Paycom from $98.00 to $120.00 and gave the company an outperform rating in a report on Tuesday, March 27th. KeyCorp upgraded shares of Paycom from a sector weight rating to an overweight rating in a report on Tuesday, February 13th. Finally, Bank of America raised their target price on shares of Paycom from $92.00 to $105.00 and gave the company a buy rating in a research note on Wednesday, February 7th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $95.29.
Shares of PAYC opened at $116.03 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.01 and a current ratio of 1.01. Paycom has a twelve month low of $58.01 and a twelve month high of $117.00. The company has a market capitalization of $6,629.06, a price-to-earnings ratio of 96.56, a price-to-earnings-growth ratio of 2.44 and a beta of 1.47.
Paycom (NYSE:PAYC) last announced its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. The firm had revenue of $114.00 million during the quarter, compared to analysts’ expectations of $113.01 million. Paycom had a net margin of 15.43% and a return on equity of 46.27%. The firm’s revenue was up 29.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 EPS. analysts expect that Paycom will post 1.86 EPS for the current year.
Paycom declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 13th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the software maker to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
In related news, CFO Craig E. Boelte sold 11,000 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $98.45, for a total transaction of $1,082,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stacey M. Pezold sold 58,000 shares of the company’s stock in a transaction that occurred on Monday, April 16th. The shares were sold at an average price of $111.20, for a total transaction of $6,449,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 144,000 shares of company stock valued at $15,386,441. Corporate insiders own 16.24% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. California Public Employees Retirement System boosted its holdings in shares of Paycom by 18.5% in the fourth quarter. California Public Employees Retirement System now owns 51,764 shares of the software maker’s stock valued at $4,158,000 after buying an additional 8,068 shares during the period. Swiss National Bank lifted its position in shares of Paycom by 2.5% in the fourth quarter. Swiss National Bank now owns 81,197 shares of the software maker’s stock worth $6,523,000 after purchasing an additional 2,000 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Paycom by 42.2% in the third quarter. Stifel Financial Corp now owns 12,630 shares of the software maker’s stock worth $946,000 after purchasing an additional 3,748 shares in the last quarter. Maryland Capital Management bought a new stake in shares of Paycom in the fourth quarter worth $7,760,000. Finally, Ameriprise Financial Inc. lifted its position in shares of Paycom by 19.8% in the third quarter. Ameriprise Financial Inc. now owns 233,043 shares of the software maker’s stock worth $17,469,000 after purchasing an additional 38,596 shares in the last quarter. Institutional investors own 87.65% of the company’s stock.
Paycom Software, Inc provides cloud-based human capital management (HCM) software service for small to mid-sized companies in the United States. It provides functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement. The company's HCM solution offers a suite of applications in the areas of talent acquisition, including applicant tracking, candidate tracker, background checks, on-boarding, e-verify, and tax credit services; and time and labor management, such as time and attendance, scheduling/schedule exchange, time-off requests, labor allocation, labor management reports/push reporting, and geofencing/geotracking.
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