Paycom (PAYC) Receives a Buy from Needham
In a report released today, Ryan MacDonald from Needham reiterated a Buy rating on Paycom (PAYC), with a price target of $265.00. The company’s shares closed last Tuesday at $236.69.
According to TipRanks.com, MacDonald is a 5-star analyst with an average return of 11.0% and a 65.5% success rate. MacDonald covers the Technology sector, focusing on stocks such as Verint Systems, ChannelAdvisor, and Coupa Software.
Paycom has an analyst consensus of Hold, with a price target consensus of $255.31, implying an 8.5% upside from current levels. In a report issued on April 20, Oppenheimer also maintained a Buy rating on the stock with a $235.00 price target.
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Paycom’s market cap is currently $13.92B and has a P/E ratio of 73.20. The company has a Price to Book ratio of 28.05.
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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. Its solutions requires virtually no customization and is based on a core system of record maintained in a single database for all HCM functions, including talent acquisition, time and labor management, payroll, talent management and human resources management applications. The company was founded by Chad R. Richison in 1998 and is headquartered in Oklahoma City, OK.