Paycom Software (NYSE:PAYC) Raised to “Hold” at Cantor Fitzgerald

Paycom Software (NYSE:PAYC) was upgraded by stock analysts at Cantor Fitzgerald to a “hold” rating in a report released on Thursday,Zacks.com reports.

Several other brokerages have also recently weighed in on PAYC. JPMorgan Chase & Co. upped their price target on shares of Paycom Software from $215.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. BMO Capital Markets upped their price target on shares of Paycom Software from $244.00 to $258.00 and gave the stock a “market perform” rating in a research report on Thursday, August 7th. Barclays boosted their price objective on shares of Paycom Software from $240.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 7th. Finally, KeyCorp boosted their price objective on shares of Paycom Software from $285.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $234.36.

Paycom Software Price Performance

Paycom Software stock opened at $222.69 on Thursday. The stock has a market cap of $12.89 billion, a price-to-earnings ratio of 30.13, a price-to-earnings-growth ratio of 2.49 and a beta of 0.81. Paycom Software has a 1 year low of $158.03 and a 1 year high of $267.76. The firm has a 50-day moving average of $227.07 and a two-hundred day moving average of $229.56.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.28. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The firm had revenue of $483.60 million during the quarter, compared to analysts’ expectations of $472.00 million. During the same quarter in the prior year, the company earned $1.62 EPS. The company’s revenue was up 10.5% compared to the same quarter last year. Research analysts expect that Paycom Software will post 7.15 earnings per share for the current year.

Institutional Trading of Paycom Software

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kingsview Wealth Management LLC increased its stake in shares of Paycom Software by 8.4% in the first quarter. Kingsview Wealth Management LLC now owns 1,478 shares of the software maker’s stock worth $323,000 after acquiring an additional 114 shares during the period. SG Americas Securities LLC boosted its holdings in Paycom Software by 57.1% during the first quarter. SG Americas Securities LLC now owns 2,685 shares of the software maker’s stock worth $587,000 after buying an additional 976 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Paycom Software by 54.5% during the first quarter. GAMMA Investing LLC now owns 904 shares of the software maker’s stock worth $198,000 after buying an additional 319 shares in the last quarter. Rhumbline Advisers boosted its holdings in Paycom Software by 11.9% during the first quarter. Rhumbline Advisers now owns 102,936 shares of the software maker’s stock worth $22,489,000 after buying an additional 10,908 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in Paycom Software by 15.6% during the first quarter. Exchange Traded Concepts LLC now owns 1,007 shares of the software maker’s stock worth $220,000 after buying an additional 136 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Company Profile

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.