Paycom (NYSE:PAYC) had its price target lifted by research analysts at Barclays from $115.00 to $117.00 in a research note issued on Wednesday, May 2nd. The firm presently has an “equal weight” rating on the software maker’s stock. Barclays’ target price points to a potential upside of 15.06% from the company’s previous close.
Several other brokerages also recently issued reports on PAYC. Zacks Investment Research downgraded Paycom from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Northland Securities set a $101.00 price objective on Paycom and gave the company a “buy” rating in a research report on Thursday, January 11th. Mizuho dropped their target price on Paycom from $85.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, February 7th. Robert W. Baird boosted their target price on Paycom from $82.00 to $92.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. They noted that the move was a valuation call. Finally, Stifel Nicolaus boosted their target price on Paycom from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Paycom has a consensus rating of “Buy” and an average price target of $102.29.
Shares of NYSE:PAYC opened at $101.69 on Wednesday. Paycom has a 1-year low of $100.58 and a 1-year high of $102.17. The company has a market cap of $6.00 billion, a PE ratio of 115.56, a PEG ratio of 2.28 and a beta of 1.47. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.10.
Paycom (NYSE:PAYC) last announced its quarterly earnings data on Tuesday, May 1st. The software maker reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.05. The company had revenue of $153.92 million for the quarter, compared to analyst estimates of $151.42 million. Paycom had a return on equity of 42.85% and a net margin of 17.62%. Paycom’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.47 EPS. research analysts expect that Paycom will post 1.83 EPS for the current year.
Paycom declared that its board has authorized a stock repurchase program on Tuesday, February 13th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the software maker to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In other Paycom news, Director Robert J. Levenson sold 3,004 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $100.93, for a total value of $303,193.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jeffrey D. York sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $104.27, for a total value of $5,213,500.00. The disclosure for this sale can be found here. Insiders have sold 162,750 shares of company stock valued at $17,417,816 over the last ninety days. 16.24% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in PAYC. California Public Employees Retirement System increased its stake in shares of Paycom by 14.4% during the third quarter. California Public Employees Retirement System now owns 43,696 shares of the software maker’s stock worth $3,275,000 after purchasing an additional 5,496 shares during the period. Sit Investment Associates Inc. increased its stake in shares of Paycom by 17.1% during the fourth quarter. Sit Investment Associates Inc. now owns 26,060 shares of the software maker’s stock worth $2,093,000 after purchasing an additional 3,800 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Paycom by 16.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 249,042 shares of the software maker’s stock worth $20,006,000 after purchasing an additional 34,667 shares during the period. V Wealth Management LLC increased its stake in shares of Paycom by 65.3% during the fourth quarter. V Wealth Management LLC now owns 6,853 shares of the software maker’s stock worth $551,000 after purchasing an additional 2,707 shares during the period. Finally, Winslow Evans & Crocker Inc. bought a new position in shares of Paycom during the fourth quarter worth approximately $283,000. Institutional investors own 87.00% of the company’s stock.
Paycom Company Profile
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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