Northland Securities Sticks to Their Buy Rating for Paycom (PAYC)

By Jason Carr

Northland Securities analyst Robert Breza maintained a Buy rating on Paycom (PAYCResearch Report) today and set a price target of $275. The company’s shares closed last Monday at $217.44.

Breza said:

“We believe the consistency will continue as the company continues to expand its revenue per subscriber building a competitive barrier driven by expanding office openings which we expect to continue upon its historical base. Estimates PAYC beat on the top-line in Q2 posting revenue of $169.3M (+31% Y/ Y) beating consensus of $162.9M. EPS of $0.75 topping consensus of $0.70 and Adj. EBITDA for the quarter was $69.4mn up 31% Y/Y topping consensus $63.9M.”

According to TipRanks.com, Breza is a 5-star analyst with an average return of 10.7% and a 56.0% 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 $254.

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The company has a one-year high of $259.71 and a one-year low of $107.46. Currently, Paycom has an average volume of 626.9K.

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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.