Paycom (NYSE:PAYC) has been assigned an average recommendation of “Buy” from the twenty analysts that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $95.29.
A number of analysts have commented on PAYC shares. Zacks Investment Research raised shares of Paycom from a “hold” rating to a “strong-buy” rating and set a $97.00 target price for the company in a report on Friday, February 9th. Northland Securities set a $101.00 target price on shares of Paycom and gave the company a “buy” rating in a report on Thursday, January 11th. Oppenheimer upped their target price on shares of Paycom from $98.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, March 27th. KeyCorp raised shares of Paycom from a “sector weight” rating to an “overweight” rating in a report on Tuesday, February 13th. Finally, Barclays cut shares of Paycom from an “overweight” rating to an “equal weight” rating and set a $97.00 target price for the company. in a report on Thursday.
Paycom stock traded down $1.50 during midday trading on Friday, reaching $109.96. 744,211 shares of the company traded hands, compared to its average volume of 672,446. The company has a market cap of $6,596.51, a price-to-earnings ratio of 124.95, a price-to-earnings-growth ratio of 2.43 and a beta of 1.47. Paycom has a 12 month low of $57.71 and a 12 month high of $115.48. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.25.
Paycom (NYSE:PAYC) last issued its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.05. The company had revenue of $114.00 million for the quarter, compared to the consensus estimate of $113.01 million. Paycom had a net margin of 15.43% and a return on equity of 46.27%. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 earnings per share. sell-side analysts expect that Paycom will post 1.86 EPS for the current fiscal year.
Paycom announced that its Board of Directors has initiated a share buyback program on Tuesday, February 13th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the software maker to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, Director Robert J. Levenson sold 3,004 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $100.93, for a total value of $303,193.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert J. Levenson sold 3,246 shares of the stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $101.32, for a total transaction of $328,884.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,750 shares of company stock valued at $10,603,528. Corporate insiders own 16.24% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its stake in Paycom 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. Xact Kapitalforvaltning AB purchased a new position in Paycom during the fourth quarter valued at $356,000. MetLife Investment Advisors LLC purchased a new position in Paycom during the fourth quarter valued at $1,743,000. Macquarie Group Ltd. grew its stake in Paycom by 5.3% during the fourth quarter. Macquarie Group Ltd. now owns 542,013 shares of the software maker’s stock valued at $43,540,000 after acquiring an additional 27,154 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in Paycom during the fourth quarter valued at $695,000. 87.64% of the stock is owned by hedge funds and other institutional investors.
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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.
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