StockNews.com Upgrades Paycom Software (NYSE:PAYC) to Buy

Paycom Software (NYSE:PAYC) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Other analysts have also recently issued research reports about the stock. Jefferies Financial Group reissued a “hold” rating and issued a $195.00 target price on shares of Paycom Software in a research note on Friday, January 5th. Piper Sandler upped their price objective on Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. BTIG Research started coverage on Paycom Software in a report on Tuesday, February 6th. They issued a “neutral” rating for the company. Citigroup decreased their price target on Paycom Software from $196.00 to $193.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. increased their price objective on Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday. Sixteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Paycom Software has an average rating of “Hold” and a consensus target price of $247.25.

Paycom Software Trading Up 2.7 %

Shares of NYSE:PAYC opened at $171.29 on Friday. The firm has a market capitalization of $9.86 billion, a PE ratio of 20.86, a PEG ratio of 2.92 and a beta of 1.17. Paycom Software has a 1-year low of $146.15 and a 1-year high of $374.04. The business’s 50 day moving average is $189.34 and its 200-day moving average is $193.90.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. The firm had revenue of $434.60 million for the quarter, compared to the consensus estimate of $422.50 million. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. The business’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.38 earnings per share. On average, sell-side analysts predict that Paycom Software will post 5.82 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Mather Group LLC. acquired a new stake in shares of Paycom Software in the 1st quarter valued at $26,000. Hexagon Capital Partners LLC boosted its holdings in Paycom Software by 333.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock valued at $27,000 after acquiring an additional 100 shares during the last quarter. Palisade Asset Management LLC bought a new position in Paycom Software in the first quarter valued at about $32,000. Cary Street Partners Investment Advisory LLC increased its position in Paycom Software by 83.5% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock worth $40,000 after purchasing an additional 71 shares during the period. Finally, Transcendent Capital Group LLC bought a new stake in Paycom Software during the 4th quarter worth about $41,000. Institutional investors own 87.77% of the company’s stock.

Paycom Software Company Profile

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.