Paycom Software Inc. (NYSE:PAYC) was downgraded by equities research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued on Wednesday. They presently have a $53.00 price objective on the stock. JPMorgan Chase & Co.’s price target suggests a potential upside of 22.35% from the company’s previous close. The analysts noted that the move was a valuation call.
PAYC has been the subject of a number of other reports. Jefferies Group restated a “hold” rating and set a $58.00 price target (up from $50.00) on shares of Paycom Software in a report on Thursday, August 4th. Barclays PLC increased their target price on shares of Paycom Software from $44.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, July 15th. Zacks Investment Research upgraded shares of Paycom Software from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Friday, August 5th. Wunderlich reiterated a “buy” rating on shares of Paycom Software in a research note on Wednesday, July 6th. Finally, Stifel Nicolaus increased their target price on shares of Paycom Software from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $54.27.
Shares of Paycom Software (NYSE:PAYC) traded up 0.09% during trading on Wednesday, hitting $43.32. The stock had a trading volume of 140,694 shares. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 63.89 and a beta of 1.99. The stock’s 50-day moving average price is $46.83 and its 200 day moving average price is $46.28. Paycom Software has a one year low of $22.42 and a one year high of $52.93.
Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Tuesday, November 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. Paycom Software had a net margin of 13.17% and a return on equity of 27.37%. The company earned $77.30 million during the quarter, compared to analysts’ expectations of $76.71 million. During the same period in the prior year, the company earned $0.08 earnings per share. The business’s quarterly revenue was up 39.8% compared to the same quarter last year. On average, equities analysts forecast that Paycom Software will post $0.84 EPS for the current year.
In other news, insider William X. Kerber III sold 55,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $52.08, for a total transaction of $2,864,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederick C. Peters II acquired 1,000 shares of the company’s stock in a transaction dated Monday, November 14th. The shares were purchased at an average cost of $41.24 per share, with a total value of $41,240.00. Following the acquisition, the director now owns 21,000 shares of the company’s stock, valued at approximately $866,040. The disclosure for this purchase can be found here. Insiders own 18.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of PAYC. Capital World Investors raised its stake in shares of Paycom Software by 299.5% in the third quarter. Capital World Investors now owns 3,974,571 shares of the company’s stock worth $199,245,000 after buying an additional 2,979,732 shares in the last quarter. FMR LLC raised its stake in shares of Paycom Software by 112.5% in the second quarter. FMR LLC now owns 2,974,483 shares of the company’s stock worth $128,527,000 after buying an additional 1,574,501 shares in the last quarter. 1832 Asset Management L.P. bought a new stake in shares of Paycom Software during the third quarter worth $52,929,000. Jackson Square Partners LLC bought a new stake in shares of Paycom Software during the second quarter worth $43,519,000. Finally, Victory Capital Management Inc. raised its stake in shares of Paycom Software by 52,877.5% in the third quarter. Victory Capital Management Inc. now owns 786,186 shares of the company’s stock worth $39,411,000 after buying an additional 784,702 shares in the last quarter. 77.92% of the stock is owned by institutional investors.
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