Oppenheimer analyst Brian Schwartz maintained a Buy rating on Paycom (NYSE: PAYC) today and set a price target of $136. The company’s shares closed yesterday at $129.59.
Schwartz commented:
“We raise our PT on PAYC to $136 from $127 after Paycom reported another strong quarter and raised its guidance. While the 3Q results may not have lived up to high investor expectations, we are impressed that management has time and again demonstrated its ability to execute. In addition, the sales metrics and salesforce commentary were strong, indicating healthy demand for Paycom’s payroll and HCM platform solutions. Bottom Line: We believe Paycom remains well-positioned to gain share, given its attractive all-in-one, organically developed HCM platform technologies and unique ability to inspire market changes, which makes it attractive to customers. For investors, PAYC’s industry-leading growth and margin profile (i.e., Rule of 70) set it apart as one of the highest-quality SaaS names.”
According to TipRanks.com, Schwartz is a top 25 analyst with an average return of 24.9% and a 71.5% success rate. Schwartz covers the Technology sector, focusing on stocks such as Ultimate Software, Instructure Inc, and Salesforce.com.
Paycom has an analyst consensus of Moderate Buy, with a price target consensus of $142.75.
See today’s analyst top recommended stocks >>
Based on Paycom’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $28.77 million. In comparison, last year the company had a net profit of $14.03 million.
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Paycom Software, Inc. provides cloud-based human capital management software solutions delivered as Software-as-a-Service. The company provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement.
