Paycom Software, Inc. (NYSE:PAYC) Receives Average

Paycom Software, Inc. (NYSE:PAYC – Get Rating) has been assigned an average recommendation of “Hold” from the fifteen analysts that are currently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $381.77.

Several equities analysts have recently issued reports on the stock. Credit Suisse Group cut their price objective on shares of Paycom Software from $425.00 to $350.00 in a report on Wednesday, May 4th. TheStreet downgraded shares of Paycom Software from a “b-” rating to a “c+” rating in a report on Monday, May 2nd. Jefferies Financial Group dropped their target price on Paycom Software from $400.00 to $335.00 in a research report on Monday, May 23rd. Oppenheimer dropped their target price on Paycom Software from $415.00 to $350.00 in a research report on Wednesday, May 4th. Finally, StockNews.com initiated coverage on Paycom Software in a research report on Thursday, March 31st. They issued a “hold” rating on the stock.

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In other Paycom Software news, CEO Chad R. Richison sold 9,611 shares of the company’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $275.24, for a total value of $2,645,331.64. Following the sale, the chief executive officer now owns 4,727,444 shares in the company, valued at approximately $1,301,181,686.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Justin Devon Long sold 151 shares of the company’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $275.23, for a total value of $41,559.73. Following the completion of the sale, the executive vice president now owns 2,956 shares in the company, valued at approximately $813,579.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,721 shares of company stock worth $5,441,538. Insiders own 15.20% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its position in shares of Paycom Software by 11.5% in the first quarter. BlackRock Inc. now owns 5,967,962 shares of the software maker’s stock valued at $2,067,181,000 after purchasing an additional 615,839 shares during the period. Vanguard Group Inc. grew its position in shares of Paycom Software by 1.3% in the first quarter. Vanguard Group Inc. now owns 5,535,044 shares of the software maker’s stock valued at $1,917,229,000 after purchasing an additional 73,414 shares during the period. Capital Research Global Investors grew its position in shares of Paycom Software by 21.8% in the fourth quarter. Capital Research Global Investors now owns 1,988,938 shares of the software maker’s stock valued at $825,787,000 after purchasing an additional 356,545 shares during the period. State Street Corp grew its position in shares of Paycom Software by 1.8% in the fourth quarter. State Street Corp now owns 1,939,027 shares of the software maker’s stock valued at $805,065,000 after purchasing an additional 33,886 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Paycom Software by 8.7% in the first quarter. Wellington Management Group LLP now owns 1,359,073 shares of the software maker’s stock valued at $470,756,000 after purchasing an additional 108,505 shares during the period. 87.12% of the stock is currently owned by institutional investors and hedge funds.

PAYC opened at $296.80 on Wednesday. Paycom Software has a 52-week low of $255.82 and a 52-week high of $558.97. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.03. The company has a market cap of $17.88 billion, a P/E ratio of 77.29, a price-to-earnings-growth ratio of 3.01 and a beta of 1.48. The firm’s 50-day moving average price is $288.67 and its 200-day moving average price is $318.54.

Paycom Software (NYSE:PAYC – Get Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The software maker reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.14. Paycom Software had a net margin of 19.64% and a return on equity of 25.12%. The firm had revenue of $353.52 million for the quarter, compared to the consensus estimate of $343.20 million. During the same quarter in the prior year, the company posted $1.10 earnings per share. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. On average, research analysts anticipate that Paycom Software will post 4.3 EPS for the current fiscal year.

Paycom Software announced that its board has approved a stock buyback program on Tuesday, June 7th that authorizes the company to repurchase $550.00 million in outstanding shares. This repurchase authorization authorizes the software maker to reacquire up to 3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Paycom Software Company Profile (Get Rating)

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.

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Analyst Recommendations for Paycom Software (NYSE:PAYC)

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