Northland Securities analyst Robert Breza maintained a Buy rating on Paycom (PAYC) today and set a price target of $215. The company’s shares closed yesterday at $186.94, close to its 52-week high of $193.75.
Breza observed:
“We believe the current spending trends and customer adoption of next generation HCM should allow the industry to grow 25% over the next three years. PAYC’s one data platform approach provides a unique advantage as customers begin to solve HCM employee data footprint sprawl. Overall, the company continues to grow its internal sales teams to drive new office openings driving upside to revenue and EPS.”
According to TipRanks.com, Breza is a 5-star analyst with an average return of 12.7% and a 61.2% success rate. Breza covers the Technology sector, focusing on stocks such as Coupa Software Inc, MobileIron, Inc., and Salesforce.com.
Paycom has an analyst consensus of Moderate Buy, with a price target consensus of $176.27, implying a -5.7% downside from current levels. In a report issued on April 16, KeyBanc also maintained a Buy rating on the stock with a $210 price target.
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Based on Paycom’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $31.39 million. In comparison, last year the company had a net profit of $41.06 million.
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Paycom Software, Inc. provides comprehensive, cloud-based human capital management (HCM) software solutions delivered as Software-as-a-Service. It provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement.
