Paycom Software, Inc. (NYSE:PAYC) Rating Lowered to Neutral at Mizuho

Paycom Software, Inc. (NYSE:PAYC) was downgraded by investment analysts at Mizuho from a “buy” rating to a “neutral” rating in a report released on Monday, The Fly reports.

A number of other research firms have also recently weighed in on PAYC. Jefferies Group LLC boosted their target price on shares of Paycom Software from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Wednesday, May 3rd. Canaccord Genuity boosted their target price on shares of Paycom Software from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, June 27th. Zacks Investment Research cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, May 8th. BidaskClub cut shares of Paycom Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 29th. Finally, Stifel Nicolaus boosted their target price on shares of Paycom Software from $55.00 to $67.00 and gave the stock a “buy” rating in a research note on Wednesday, May 3rd. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Paycom Software currently has a consensus rating of “Buy” and an average price target of $63.50.

Paycom Software (NYSE:PAYC) opened at 67.64 on Monday. The firm’s 50-day moving average price is $67.41 and its 200 day moving average price is $56.81. Paycom Software has a 12-month low of $39.15 and a 12-month high of $73.61. The firm has a market cap of $3.92 billion, a P/E ratio of 78.93 and a beta of 1.77.

Paycom Software (NYSE:PAYC) last posted its earnings results on Tuesday, May 2nd. The software maker reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.07. The firm had revenue of $119.51 million for the quarter, compared to analysts’ expectations of $115.70 million. Paycom Software had a net margin of 14.19% and a return on equity of 33.01%. Analysts forecast that Paycom Software will post $1.09 earnings per share for the current fiscal year.

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In related news, insider Stacey M. Pezold sold 30,000 shares of the business’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $70.15, for a total value of $2,104,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeffrey D. York sold 40,000 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $66.93, for a total transaction of $2,677,200.00. The disclosure for this sale can be found here. In the last three months, insiders sold 110,000 shares of company stock worth $7,102,100. 17.90% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Paycom Software by 3.6% in the first quarter. Vanguard Group Inc. now owns 3,491,526 shares of the software maker’s stock valued at $200,798,000 after buying an additional 120,345 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Paycom Software by 74,069.7% in the first quarter. BlackRock Inc. now owns 2,662,693 shares of the software maker’s stock valued at $153,132,000 after buying an additional 2,659,103 shares in the last quarter. Brown Capital Management LLC boosted its stake in shares of Paycom Software by 16.1% in the first quarter. Brown Capital Management LLC now owns 2,627,344 shares of the software maker’s stock valued at $151,099,000 after buying an additional 364,548 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Paycom Software by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,085,105 shares of the software maker’s stock valued at $49,362,000 after buying an additional 7,395 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Paycom Software by 4.1% in the first quarter. State Street Corp now owns 799,092 shares of the software maker’s stock valued at $45,959,000 after buying an additional 31,386 shares in the last quarter. 90.50% of the stock is currently owned by institutional investors.

About Paycom Software

Paycom Software, Inc is a provider of a cloud-based human capital management (HCM) software solution delivered as Software-as-a-Service (SaaS). The Company provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. The Company’s applications streamline client processes and provide clients and their employees with the ability to directly access and manage administrative processes, including applications that identify candidates, on-board employees, manage time and labor, administer payroll deductions and benefits, manage performance, terminate employees and administer post-termination health benefits, such as COBRA.

The Fly

Analyst Recommendations for Paycom Software (NYSE:PAYC)

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