Paycom Software (NYSE:PAYC) Rating Increased to Hold at Cantor Fitzgerald

Key Points

• Paycom Software's stock rating was upgraded to "hold" by Cantor Fitzgerald, a move that reflects a cautious outlook for the company.
• Seventeen analysts have issued ratings for Paycom, with one suggesting a buy, eleven rating it as a hold, and updated target prices ranging from $235 to $290.
• The company reported earnings per share of $2.06, surpassing analysts' estimates and a revenue of $483.60 million for the quarter, marking a 10.5% year-over-year increase.

Paycom Software (NYSE:PAYC - Get Free Report) was upgraded by stock analysts at Cantor Fitzgerald to a "hold" rating in a research report issued on Thursday,Zacks.com reports.

A number of other research analysts have also recently issued reports on PAYC. Barclays increased their target price on shares of Paycom Software from $240.00 to $250.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. KeyCorp increased their target price on shares of Paycom Software from $285.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their target price on shares of Paycom Software from $215.00 to $235.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Finally, BMO Capital Markets increased their target price on shares of Paycom Software from $244.00 to $258.00 and gave the company a "market perform" rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, Paycom Software presently has a consensus rating of "Hold" and a consensus target price of $234.36.

Paycom Software Stock Up 2.6%

NYSE PAYC opened at $226.64 on Thursday. Paycom Software has a 52-week low of $158.03 and a 52-week high of $267.76. The stock has a market capitalization of $13.12 billion, a P/E ratio of 30.67, a P/E/G ratio of 2.43 and a beta of 0.81. The firm has a 50-day moving average price of $227.27 and a 200 day moving average price of $229.53.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.78 by $0.28. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The company had revenue of $483.60 million during the quarter, compared to analysts' expectations of $472.00 million. During the same period last year, the company posted $1.62 earnings per share. The firm's quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts expect that Paycom Software will post 7.15 earnings per share for the current fiscal year.

Institutional Trading of Paycom Software

Several large investors have recently modified their holdings of PAYC. von Borstel & Associates Inc. acquired a new stake in shares of Paycom Software in the first quarter valued at approximately $27,000. SouthState Corp acquired a new stake in Paycom Software during the first quarter worth approximately $27,000. CYBER HORNET ETFs LLC acquired a new stake in Paycom Software during the second quarter worth approximately $29,000. Golden State Wealth Management LLC boosted its position in Paycom Software by 112.3% during the first quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker's stock worth $30,000 after acquiring an additional 73 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Paycom Software by 135.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock worth $33,000 after acquiring an additional 87 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

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.

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