Paycom Software, Inc. (NYSE:PAYC)‘s stock had its “buy” rating reaffirmed by research analysts at Jefferies Group LLC in a research report issued on Thursday. They currently have a $52.00 target price on the stock. Jefferies Group LLC’s target price suggests a potential downside of 0.63% from the stock’s current price.
Other equities research analysts also recently issued research reports about the company. J P Morgan Chase & Co downgraded Paycom Software from an “overweight” rating to a “neutral” rating and set a $53.00 price objective on the stock. in a research report on Wednesday, November 2nd. They noted that the move was a valuation call. Canaccord Genuity reaffirmed a “buy” rating and set a $55.00 price objective on shares of Paycom Software in a research report on Friday, February 3rd. Finally, Oppenheimer Holdings Inc. assumed coverage on Paycom Software in a research note on Thursday, December 1st. They issued an “outperform” rating and a $55.00 price target for the company. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $54.36.
Shares of Paycom Software (NYSE:PAYC) opened at 52.33 on Thursday. The company has a market capitalization of $3.00 billion, a P/E ratio of 70.72 and a beta of 1.71. The firm’s 50 day moving average price is $47.53 and its 200-day moving average price is $47.90. Paycom Software has a 1-year low of $24.32 and a 1-year high of $52.93.
Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, February 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.05. Paycom Software had a return on equity of 28.63% and a net margin of 13.32%. The business had revenue of $87.80 million for the quarter, compared to the consensus estimate of $86.43 million. During the same quarter in the prior year, the company earned $0.10 EPS. The business’s revenue was up 34.9% compared to the same quarter last year. Analysts expect that Paycom Software will post $1.02 EPS for the current year.
In other news, insider Chad R. Richison acquired 25,000 shares of Paycom Software stock in a transaction dated Tuesday, December 13th. The stock was purchased at an average cost of $45.73 per share, for a total transaction of $1,143,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 18.70% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Metropolitan Life Insurance Co. NY boosted its position in shares of Paycom Software by 311.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 91,050 shares of the company’s stock valued at $3,934,000 after buying an additional 68,901 shares in the last quarter. Sylebra HK Co Ltd boosted its position in shares of Paycom Software by 0.5% in the second quarter. Sylebra HK Co Ltd now owns 4,961,591 shares of the company’s stock valued at $214,390,000 after buying an additional 22,444 shares in the last quarter. Carlson Capital L P boosted its position in shares of Paycom Software by 1,028.8% in the second quarter. Carlson Capital L P now owns 573,450 shares of the company’s stock valued at $24,779,000 after buying an additional 522,650 shares in the last quarter. Polar Capital LLP boosted its position in shares of Paycom Software by 15.1% in the second quarter. Polar Capital LLP now owns 478,323 shares of the company’s stock valued at $20,670,000 after buying an additional 62,591 shares in the last quarter. Finally, Garelick Capital Partners LP bought a new position in shares of Paycom Software during the second quarter valued at $2,809,000. Institutional investors own 82.03% of the company’s stock.
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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