Paycom Software (NYSE:PAYC) Price Target Raised to $275.00

Paycom Software (NYSE:PAYC) had its target price hoisted by Northland Securities from $215.00 to $275.00 in a report issued on Tuesday morning, The Fly reports. Northland Securities currently has an outperform rating on the software maker’s stock.

PAYC has been the subject of several other research reports. Oppenheimer lifted their price objective on shares of Paycom Software from $175.00 to $220.00 and gave the company an outperform rating in a research note on Wednesday, May 1st. Cantor Fitzgerald began coverage on shares of Upwork in a research report on Tuesday, June 18th. They issued an overweight rating for the company. Stifel Nicolaus lifted their price target on shares of Zendesk from $75.00 to $83.00 and gave the company a hold rating in a research report on Wednesday, May 1st. Barclays lifted their price target on shares of Shopify from $155.00 to $225.00 and gave the company an equal weight rating in a research report on Wednesday, May 1st. Finally, Needham & Company LLC reissued a buy rating and issued a $10.00 price target (down previously from $15.00) on shares of Nabriva Therapeutics in a research report on Wednesday, May 1st. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Paycom Software presently has a consensus rating of Buy and a consensus price target of $194.29.

Paycom Software stock opened at $243.87 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.08. Paycom Software has a 52-week low of $100.87 and a 52-week high of $246.85. The stock’s 50 day moving average price is $221.35. The company has a market cap of $14.30 billion, a price-to-earnings ratio of 111.87, a price-to-earnings-growth ratio of 3.49 and a beta of 1.63.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Tuesday, April 30th. The software maker reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.07). The company had revenue of $199.90 million during the quarter, compared to the consensus estimate of $195.53 million. Paycom Software had a net margin of 23.38% and a return on equity of 39.02%. The business’s revenue was up 29.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.95 EPS. Equities research analysts expect that Paycom Software will post 2.6 EPS for the current fiscal year.

In related news, COO Jon Evans sold 2,047 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $200.30, for a total value of $410,014.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey D. York sold 25,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $204.37, for a total transaction of $5,109,250.00. The disclosure for this sale can be found here. In the last three months, insiders sold 34,120 shares of company stock valued at $7,000,605. 16.09% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Global Retirement Partners LLC boosted its holdings in shares of Paycom Software by 100.0% in the 1st quarter. Global Retirement Partners LLC now owns 200 shares of the software maker’s stock worth $38,000 after buying an additional 100 shares during the last quarter. CWM LLC bought a new stake in Paycom Software in the 1st quarter valued at about $45,000. Pittenger & Anderson Inc. raised its stake in Paycom Software by 1,125.0% in the 1st quarter. Pittenger & Anderson Inc. now owns 245 shares of the software maker’s stock valued at $46,000 after acquiring an additional 225 shares during the period. Icon Wealth Partners LLC bought a new stake in Paycom Software in the 1st quarter valued at about $53,000. Finally, Nordea Investment Management AB bought a new stake in Paycom Software in the 1st quarter valued at about $59,000. 74.38% of the stock is currently owned by institutional investors.

Paycom Software 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.

Read More: How Investors Use a Balance Sheet

The Fly

Analyst Recommendations for Paycom Software (NYSE:PAYC)

Receive News & Ratings for Paycom Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paycom Software and related companies with MarketBeat.com's FREE daily email newsletter.