Paycom Software (NYSE:PAYC) Raised to Strong-Buy at Zacks Research

Paycom Software (NYSE:PAYC) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

PAYC has been the topic of a number of other research reports. BMO Capital Markets raised their price objective on Paycom Software from $137.00 to $145.00 and gave the stock a “market perform” rating in a research note on Thursday, May 7th. Mizuho raised their price objective on Paycom Software from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. TD Cowen raised their price objective on Paycom Software from $148.00 to $154.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. UBS Group lowered their price objective on Paycom Software from $210.00 to $183.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. Finally, KeyCorp lowered their price objective on Paycom Software from $250.00 to $195.00 and set an “overweight” rating on the stock in a research note on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $159.67.

Paycom Software Price Performance

Shares of NYSE PAYC opened at $141.29 on Monday. The firm has a market cap of $6.73 billion, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 1.22 and a beta of 0.77. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.83. Paycom Software has a 1-year low of $104.90 and a 1-year high of $267.76. The business’s 50 day moving average is $126.80 and its 200-day moving average is $142.68.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, May 6th. The software maker reported $3.15 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $0.16. Paycom Software had a return on equity of 28.34% and a net margin of 22.44%.The firm had revenue of $571.80 million for the quarter, compared to analyst estimates of $564.37 million. During the same quarter last year, the company earned $2.80 EPS. The company’s revenue was up 7.8% on a year-over-year basis. Equities research analysts predict that Paycom Software will post 9.09 earnings per share for the current year.

Institutional Investors Weigh In On Paycom Software

Hedge funds and other institutional investors have recently bought and sold shares of the company. True Wealth Design LLC lifted its stake in shares of Paycom Software by 946.7% in the 4th quarter. True Wealth Design LLC now owns 157 shares of the software maker’s stock valued at $25,000 after purchasing an additional 142 shares during the period. Brown Brothers Harriman & Co. grew its holdings in shares of Paycom Software by 190.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 154 shares of the software maker’s stock valued at $25,000 after acquiring an additional 101 shares in the last quarter. Clearstead Advisors LLC grew its holdings in shares of Paycom Software by 140.3% in the fourth quarter. Clearstead Advisors LLC now owns 161 shares of the software maker’s stock valued at $26,000 after acquiring an additional 94 shares in the last quarter. Caitlin John LLC bought a new position in Paycom Software during the third quarter valued at $29,000. Finally, CYBER HORNET ETFs LLC bought a new position in Paycom Software during the second quarter valued at $29,000. Institutional investors own 87.77% of the company’s stock.

About Paycom Software

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.