BTIG Research Upgrades Paycom Software (NYSE:PAYC) to “Strong-Buy”

Paycom Software (NYSE:PAYC) was upgraded by equities researchers at BTIG Research to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. UBS Group dropped their price objective on Paycom Software from $285.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. KeyCorp cut their price objective on shares of Paycom Software from $290.00 to $250.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Zacks Research upgraded shares of Paycom Software from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 20th. Mizuho dropped their target price on shares of Paycom Software from $220.00 to $180.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Finally, Jefferies Financial Group cut their price objective on Paycom Software from $225.00 to $190.00 and set a “hold” rating for the company in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $223.57.

Paycom Software Price Performance

Shares of NYSE PAYC opened at $166.29 on Tuesday. The stock has a market cap of $9.36 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 1.77 and a beta of 0.84. Paycom Software has a 1 year low of $156.50 and a 1 year high of $267.76. The firm has a fifty day moving average price of $176.71 and a 200-day moving average price of $210.23.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, November 5th. The software maker reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.02). Paycom Software had a net margin of 22.65% and a return on equity of 24.79%. The firm had revenue of $493.30 million for the quarter, compared to analysts’ expectations of $492.62 million. During the same quarter last year, the firm posted $1.67 EPS. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, research analysts expect that Paycom Software will post 7.15 EPS for the current year.

Insider Buying and Selling at Paycom Software

In other news, CFO Robert D. Foster sold 1,300 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $162.66, for a total transaction of $211,458.00. Following the completion of the sale, the chief financial officer directly owned 14,747 shares of the company’s stock, valued at approximately $2,398,747.02. The trade was a 8.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 10.90% of the company’s stock.

Institutional Trading of Paycom Software

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Paycom Software by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 5,802,788 shares of the software maker’s stock valued at $1,207,792,000 after purchasing an additional 179,218 shares in the last quarter. State Street Corp boosted its position in Paycom Software by 2.8% during the 3rd quarter. State Street Corp now owns 2,157,127 shares of the software maker’s stock valued at $448,984,000 after acquiring an additional 59,217 shares in the last quarter. Baillie Gifford & Co. increased its holdings in shares of Paycom Software by 10.3% in the 3rd quarter. Baillie Gifford & Co. now owns 1,708,662 shares of the software maker’s stock valued at $355,641,000 after acquiring an additional 158,967 shares during the period. Geode Capital Management LLC raised its position in shares of Paycom Software by 5.3% in the 2nd quarter. Geode Capital Management LLC now owns 1,661,685 shares of the software maker’s stock worth $383,265,000 after acquiring an additional 83,154 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Paycom Software by 9.3% in the 3rd quarter. Invesco Ltd. now owns 1,216,188 shares of the software maker’s stock worth $253,137,000 after acquiring an additional 103,801 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

About Paycom Software

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.