Paycom Software (NYSE:PAYC) Lifted to "Buy" at StockNews.com

Paycom Software (NYSE:PAYC - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Friday.

Several other research analysts have also recently weighed in on the stock. Citigroup cut their price target on shares of Paycom Software from $196.00 to $193.00 and set a "neutral" rating on the stock in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on Paycom Software from $165.00 to $175.00 and gave the company a "neutral" rating in a research note on Thursday. Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a report on Thursday. Barclays dropped their price objective on Paycom Software from $193.00 to $184.00 and set an "equal weight" rating on the stock in a report on Thursday. Finally, BMO Capital Markets reduced their price objective on shares of Paycom Software from $200.00 to $190.00 and set a "market perform" rating for the company in a research note on Thursday. Sixteen research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $256.53.

Paycom Software Stock Up 2.7 %

Shares of PAYC stock traded up $4.57 during mid-day trading on Friday, reaching $171.29. 1,185,814 shares of the stock traded hands, compared to its average volume of 872,233. The company has a market cap of $9.86 billion, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 3.18 and a beta of 1.17. The stock's fifty day simple moving average is $189.34 and its two-hundred day simple moving average is $194.47. Paycom Software has a 1-year low of $146.15 and a 1-year high of $374.04.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.15. The firm had revenue of $434.60 million for the quarter, compared to analyst estimates of $422.50 million. Paycom Software had a return on equity of 33.21% and a net margin of 26.91%. The company's revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.38 earnings per share. On average, equities research analysts anticipate that Paycom Software will post 5.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Paycom Software

Institutional investors and hedge funds have recently made changes to their positions in the business. Mediolanum International Funds Ltd bought a new position in Paycom Software during the 1st quarter valued at about $6,525,000. Chevy Chase Trust Holdings LLC grew its stake in shares of Paycom Software by 1.2% during the first quarter. Chevy Chase Trust Holdings LLC now owns 28,055 shares of the software maker's stock valued at $5,583,000 after buying an additional 338 shares during the last quarter. Avory & Company LLC raised its holdings in shares of Paycom Software by 990.4% in the first quarter. Avory & Company LLC now owns 27,850 shares of the software maker's stock worth $5,542,000 after buying an additional 25,296 shares during the period. FORA Capital LLC lifted its stake in shares of Paycom Software by 353.3% during the 1st quarter. FORA Capital LLC now owns 26,513 shares of the software maker's stock worth $5,276,000 after acquiring an additional 20,664 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in Paycom Software by 60.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 16,948 shares of the software maker's stock valued at $3,372,000 after acquiring an additional 6,395 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

About Paycom Software

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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