Paycom Software, Inc. (PAYC) Given Buy Rating at Robert W. Baird

Robert W. Baird reiterated their buy rating on shares of Paycom Software, Inc. (NYSE:PAYC) in a research note issued to investors on Tuesday morning. The brokerage currently has a $78.00 target price on the software maker’s stock.

Other research analysts have also recently issued reports about the stock. Canaccord Genuity boosted their price objective on shares of Paycom Software from $80.00 to $85.00 and gave the company a buy rating in a report on Wednesday, August 2nd. Oppenheimer Holdings, Inc. boosted their price objective on shares of Paycom Software from $65.00 to $75.00 and gave the company an outperform rating in a report on Wednesday, August 2nd. Royal Bank Of Canada reissued a sector perform rating and set a $74.00 price objective (up from $67.00) on shares of Paycom Software in a report on Wednesday, August 2nd. Mizuho reissued a hold rating and set a $70.00 price objective on shares of Paycom Software in a report on Tuesday, August 1st. Finally, Jefferies Group LLC reissued a buy rating and set a $83.00 price objective (up from $73.00) on shares of Paycom Software in a report on Wednesday, August 2nd. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $76.07.

Paycom Software (PAYC) opened at 74.73 on Tuesday. The company has a market capitalization of $4.33 billion, a P/E ratio of 81.05 and a beta of 1.75. The company has a 50-day moving average of $71.60 and a 200 day moving average of $64.99. Paycom Software has a 12-month low of $39.15 and a 12-month high of $75.57.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.11. Paycom Software had a net margin of 14.28% and a return on equity of 35.77%. The firm had revenue of $98.20 million during the quarter, compared to analysts’ expectations of $95.98 million. During the same period in the previous year, the company earned $0.21 earnings per share. The firm’s quarterly revenue was up 32.9% on a year-over-year basis. Equities research analysts forecast that Paycom Software will post $1.15 earnings per share for the current fiscal year.

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In other Paycom Software news, insider Jeffrey D. York sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $66.93, for a total value of $2,677,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stacey M. Pezold sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $75.02, for a total transaction of $750,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,000 shares of company stock valued at $5,531,900. Company insiders own 17.90% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Capital World Investors boosted its position in shares of Paycom Software by 6.7% in the second quarter. Capital World Investors now owns 6,612,914 shares of the software maker’s stock worth $452,389,000 after purchasing an additional 415,000 shares during the period. Vanguard Group Inc. boosted its position in shares of Paycom Software by 6.8% in the second quarter. Vanguard Group Inc. now owns 3,727,860 shares of the software maker’s stock worth $255,023,000 after purchasing an additional 236,334 shares during the period. BlackRock Inc. boosted its position in shares of Paycom Software by 12.7% in the second quarter. BlackRock Inc. now owns 3,001,044 shares of the software maker’s stock worth $205,302,000 after purchasing an additional 338,351 shares during the period. State Street Corp boosted its position in shares of Paycom Software by 14.0% in the second quarter. State Street Corp now owns 911,240 shares of the software maker’s stock worth $62,337,000 after purchasing an additional 112,148 shares during the period. Finally, New York State Common Retirement Fund boosted its position in shares of Paycom Software by 60.3% in the second quarter. New York State Common Retirement Fund now owns 748,858 shares of the software maker’s stock worth $51,229,000 after purchasing an additional 281,778 shares during the period. Institutional investors and hedge funds own 86.05% of the company’s stock.

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.

Analyst Recommendations for Paycom Software (NYSE:PAYC)

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