Paycom Software, Inc. (NYSE:PAYC) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Paycom Software, Inc. (NYSE:PAYCGet Rating) have received a consensus recommendation of “Hold” from the sixteen analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $384.50.

PAYC has been the subject of a number of recent research reports. Oppenheimer lowered their price objective on Paycom Software from $415.00 to $350.00 in a research note on Wednesday, May 4th. Jefferies Financial Group cut their price objective on Paycom Software from $400.00 to $335.00 in a report on Monday. KeyCorp reduced their target price on Paycom Software from $575.00 to $400.00 and set an “overweight” rating for the company in a report on Tuesday, January 25th. Piper Sandler reduced their target price on Paycom Software from $505.00 to $430.00 in a report on Wednesday, May 4th. Finally, Credit Suisse Group reduced their price objective on Paycom Software from $425.00 to $350.00 in a research note on Wednesday, May 4th.

In other Paycom Software news, EVP Justin Devon Long sold 151 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $275.23, for a total transaction of $41,559.73. Following the transaction, the executive vice president now owns 2,956 shares of the company’s stock, valued at $813,579.88. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Bradley Scott Smith sold 1,625 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $275.24, for a total value of $447,265.00. Following the transaction, the insider now directly owns 3,600 shares in the company, valued at approximately $990,864. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,290 shares of company stock worth $3,934,164. Corporate insiders own 15.20% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Moors & Cabot Inc. acquired a new position in shares of Paycom Software in the third quarter valued at approximately $25,000. Quent Capital LLC acquired a new position in shares of Paycom Software in the fourth quarter valued at approximately $27,000. Allworth Financial LP grew its position in shares of Paycom Software by 157.1% in the first quarter. Allworth Financial LP now owns 108 shares of the software maker’s stock valued at $37,000 after purchasing an additional 66 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of Paycom Software by 54.8% in the fourth quarter. Quadrant Capital Group LLC now owns 96 shares of the software maker’s stock valued at $40,000 after purchasing an additional 34 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of Paycom Software in the fourth quarter valued at approximately $42,000. 87.12% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:PAYC opened at $274.38 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.08 and a current ratio of 1.08. Paycom Software has a 1 year low of $259.95 and a 1 year high of $558.97. The stock has a market capitalization of $16.53 billion, a P/E ratio of 71.45, a PEG ratio of 2.51 and a beta of 1.54. The stock has a 50-day simple moving average of $314.38 and a 200-day simple moving average of $356.57.

Paycom Software (NYSE:PAYCGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The software maker reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. Paycom Software had a return on equity of 25.12% and a net margin of 19.64%. The firm had revenue of $353.52 million for the quarter, compared to analyst estimates of $343.20 million. During the same period in the previous year, the company posted $1.10 EPS. Paycom Software’s revenue for the quarter was up 29.9% on a year-over-year basis. Analysts predict that Paycom Software will post 4.3 earnings per share for the current year.

About Paycom Software (Get Rating)

Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.

Further Reading

Analyst Recommendations for Paycom Software (NYSE:PAYC)

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