Paycom Software (NYSE:PAYC) was downgraded by investment analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a report released on Thursday.
Other research analysts have also recently issued reports about the stock. KeyCorp reiterated a “buy” rating and issued a $105.00 target price on shares of Paycom Software in a report on Monday, February 12th. Bank of America raised their target price on shares of Paycom Software from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Northland Securities set a $101.00 target price on shares of Paycom Software and gave the stock a “buy” rating in a report on Thursday, January 11th. Zacks Investment Research cut shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Finally, Credit Suisse Group raised their target price on shares of Paycom Software from $82.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $91.35.
Paycom Software stock traded down $2.28 during trading hours on Thursday, hitting $110.73. 628,837 shares of the stock traded hands, compared to its average volume of 737,374. Paycom Software has a one year low of $53.70 and a one year high of $113.93. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $6,575.20, a price-to-earnings ratio of 97.13, a price-to-earnings-growth ratio of 2.33 and a beta of 1.55.
Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.05. Paycom Software had a net margin of 15.43% and a return on equity of 46.27%. The company had revenue of $114.00 million during the quarter, compared to analyst estimates of $113.01 million. During the same quarter last year, the firm posted $0.18 EPS. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. equities analysts forecast that Paycom Software will post 1.86 earnings per share for the current year.
Paycom Software announced that its board has initiated a share repurchase program on Tuesday, February 13th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the software maker to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
In related news, CFO Craig E. Boelte sold 11,000 shares of the firm’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 document filed with the SEC, which is available at this hyperlink. Also, Director Robert J. Levenson sold 18,750 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $88.89, for a total transaction of $1,666,687.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 104,750 shares of company stock worth $9,388,528. Insiders own 17.90% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. US Bancorp DE raised its position in Paycom Software by 6.8% during the fourth quarter. US Bancorp DE now owns 9,220 shares of the software maker’s stock valued at $740,000 after acquiring an additional 584 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Paycom Software by 9.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 7,142 shares of the software maker’s stock valued at $574,000 after acquiring an additional 637 shares in the last quarter. Bfsg LLC raised its position in Paycom Software by 18.3% during the fourth quarter. Bfsg LLC now owns 4,221 shares of the software maker’s stock valued at $339,000 after acquiring an additional 654 shares in the last quarter. Advisory Research Inc. raised its position in Paycom Software by 2.8% during the fourth quarter. Advisory Research Inc. now owns 26,613 shares of the software maker’s stock valued at $2,138,000 after acquiring an additional 737 shares in the last quarter. Finally, Virtu Financial LLC raised its position in Paycom Software by 30.6% during the fourth quarter. Virtu Financial LLC now owns 3,791 shares of the software maker’s stock valued at $305,000 after acquiring an additional 889 shares in the last quarter. 87.64% of the stock is currently owned by hedge funds and other institutional investors.
Paycom Software Company Profile
Paycom Software, Inc is a provider of a cloud-based human capital management (HCM) software solution delivered as Software-as-a-Service (SaaS). The Company provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. The Company’s applications streamline client processes and provide clients and their employees with the ability to directly access and manage administrative processes, including applications that identify candidates, on-board employees, manage time and labor, administer payroll deductions and benefits, manage performance, terminate employees and administer post-termination health benefits, such as COBRA.
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