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Weiss Ratings Reiterates "Hold (C)" Rating for Paycom Software (NYSE:PAYC)

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Key Points

  • Weiss Ratings has reiterated a "Hold (C)" rating for Paycom Software (NYSE:PAYC), indicating a cautious outlook.
  • TD Cowen and Guggenheim have recently upgraded their ratings on Paycom, with target prices raised to $258.00 and $270.00, respectively.
  • Paycom Software reported $483.60 million in revenue for the last quarter, exceeding expectations, and achieved a 10.5% year-over-year revenue growth.
  • Interested in Paycom Software? Here are five stocks we like better.

Paycom Software (NYSE:PAYC - Get Free Report)'s stock had its "hold (c)" rating restated by equities researchers at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other research analysts have also issued reports on PAYC. TD Cowen upgraded Paycom Software from a "hold" rating to a "buy" rating and boosted their target price for the company from $246.00 to $258.00 in a research report on Monday, September 22nd. Guggenheim assumed coverage on shares of Paycom Software in a report on Friday, September 26th. They set a "buy" rating and a $270.00 price target for the company. Cantor Fitzgerald upgraded shares of Paycom Software to a "hold" rating in a research report on Thursday, September 11th. KeyCorp upped their price objective on shares of Paycom Software from $285.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Paycom Software from $215.00 to $235.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $241.77.

Get Our Latest Analysis on PAYC

Paycom Software Price Performance

Shares of Paycom Software stock opened at $205.09 on Wednesday. Paycom Software has a one year low of $160.00 and a one year high of $267.76. The firm has a market capitalization of $11.87 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 2.23 and a beta of 0.82. The business has a 50-day simple moving average of $220.10 and a 200 day simple moving average of $229.25.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings data 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 return on equity of 25.40% and a net margin of 21.22%.The firm had revenue of $483.60 million for the quarter, compared to analysts' expectations of $472.00 million. During the same period last year, the firm earned $1.62 earnings per share. The company's revenue for the quarter was up 10.5% compared to the same quarter last year. On average, sell-side analysts expect that Paycom Software will post 7.15 EPS for the current year.

Insider Transactions at Paycom Software

In other news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $223.27, for a total transaction of $334,905.00. Following the transaction, the insider owned 24,533 shares in the company, valued at $5,477,482.91. The trade was a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Paycom Software

Institutional investors and hedge funds have recently modified their holdings of the business. Kingsview Wealth Management LLC raised its position in shares of Paycom Software by 8.4% during the first quarter. Kingsview Wealth Management LLC now owns 1,478 shares of the software maker's stock worth $323,000 after acquiring an additional 114 shares during the last quarter. SG Americas Securities LLC grew its stake in Paycom Software by 57.1% during the first quarter. SG Americas Securities LLC now owns 2,685 shares of the software maker's stock worth $587,000 after purchasing an additional 976 shares during the period. GAMMA Investing LLC grew its stake in Paycom Software by 54.5% during the first quarter. GAMMA Investing LLC now owns 904 shares of the software maker's stock worth $198,000 after purchasing an additional 319 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in Paycom Software during the first quarter worth approximately $690,000. Finally, Exchange Traded Concepts LLC grew its stake in Paycom Software by 15.6% during the first quarter. Exchange Traded Concepts LLC now owns 1,007 shares of the software maker's stock worth $220,000 after purchasing an additional 136 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Paycom Software (NYSE:PAYC)

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