Paycom Software Inc (NYSE:PAYC) Receives $247.18 Average Price Target from Analysts

Shares of Paycom Software Inc (NYSE:PAYC) have been assigned an average recommendation of “Hold” from the eighteen analysts that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $247.18.

A number of equities research analysts recently commented on PAYC shares. Royal Bank of Canada reduced their price objective on shares of Paycom Software from $240.00 to $225.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 29th. Stifel Nicolaus reduced their price objective on shares of Paycom Software from $187.00 to $175.00 and set a “hold” rating for the company in a research report on Wednesday, April 29th. Citigroup lifted their price target on shares of Paycom Software from $262.00 to $315.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Jefferies Financial Group reduced their price target on shares of Paycom Software from $225.00 to $215.00 and set a “hold” rating for the company in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. cut shares of Paycom Software from a “neutral” rating to an “underweight” rating and set a $200.00 price objective for the company. in a research note on Thursday, April 23rd.

Shares of PAYC traded up $9.37 during mid-day trading on Tuesday, hitting $309.73. 862,949 shares of the company’s stock were exchanged, compared to its average volume of 1,035,446. Paycom Software has a fifty-two week low of $163.42 and a fifty-two week high of $342.00. The firm has a market capitalization of $17.59 billion, a P/E ratio of 92.18, a P/E/G ratio of 4.68 and a beta of 1.56. The business’s 50 day moving average is $296.21 and its two-hundred day moving average is $269.01. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.05.

Paycom Software (NYSE:PAYC) last announced its earnings results on Tuesday, April 28th. The software maker reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.07. Paycom Software had a net margin of 25.17% and a return on equity of 37.04%. The business had revenue of $242.40 million during the quarter, compared to the consensus estimate of $237.93 million. During the same quarter in the prior year, the firm earned $1.19 earnings per share. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. On average, equities research analysts forecast that Paycom Software will post 2.62 earnings per share for the current year.

Paycom Software announced that its Board of Directors has initiated a stock buyback plan on Thursday, March 12th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the software maker to purchase up to 1.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

In related news, Director Jason D. Clark sold 900 shares of Paycom Software stock in a transaction on Monday, May 18th. The shares were sold at an average price of $284.51, for a total transaction of $256,059.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bradley Scott Smith sold 10,000 shares of Paycom Software stock in a transaction on Monday, June 1st. The shares were sold at an average price of $304.27, for a total transaction of $3,042,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 441,342 shares of company stock valued at $118,575,414 over the last three months. Corporate insiders own 16.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of PAYC. Principal Financial Group Inc. lifted its holdings in Paycom Software by 28.5% in the 4th quarter. Principal Financial Group Inc. now owns 6,910 shares of the software maker’s stock worth $1,830,000 after buying an additional 1,532 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Paycom Software by 27.2% in the 4th quarter. Victory Capital Management Inc. now owns 332,609 shares of the software maker’s stock worth $88,061,000 after purchasing an additional 71,031 shares during the last quarter. Sowell Financial Services LLC increased its position in shares of Paycom Software by 60.2% in the 4th quarter. Sowell Financial Services LLC now owns 676 shares of the software maker’s stock worth $179,000 after purchasing an additional 254 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Paycom Software by 14.2% in the 4th quarter. Oppenheimer & Co. Inc. now owns 3,803 shares of the software maker’s stock worth $1,007,000 after purchasing an additional 473 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Paycom Software by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 127,205 shares of the software maker’s stock worth $33,679,000 after purchasing an additional 2,762 shares during the last quarter. Hedge funds and other institutional investors own 75.25% of the company’s stock.

About Paycom Software

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.

Featured Story: Bollinger Bands

Analyst Recommendations for Paycom Software (NYSE:PAYC)

Receive News & Ratings for Paycom Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paycom Software and related companies with MarketBeat.com's FREE daily email newsletter.