Paycom Software, Inc. (PAYC) Monthly Update – September 22, 2024
Company Overview
Paycom Software, Inc. (NASDAQ: PAYC) is a leading provider of cloud-based human capital management (HCM) solutions, headquartered in Oklahoma City, Oklahoma. Founded in 1998, the company specializes in offering a comprehensive software-as-a-service (SaaS) platform tailored for small to mid-sized businesses across the United States. Paycom’s extensive suite of services encompasses all facets of human resources (HR), including talent acquisition, payroll processing, time and labor management, and talent management. This digital transformation aims to enhance efficiency throughout the employment life cycle, providing tools such as applicant tracking and analytics to support businesses from recruitment through retirement.
Current Market Position
As of September 22, 2024, Paycom’s stock is trading at $170.24, significantly below its fifty-two week high of $279.96. This suggests potential undervaluation and market volatility but also presents an opportunity for growth. Analysts have set a target high price of $250.00, with a mean target of $183.04, indicating optimism for upside movement. The company has reported total revenue of approximately $1.78 billion, reflecting a robust financial foundation despite lacking available EBITDA data for further profitability analysis. With 57,432,400 shares outstanding and approximately 4.73% short interest, the prevailing market sentiment remains positive, suggesting that investors are not currently betting against the stock.
Investment Sentiment and Analyst Outlook
With a mean recommendation score of 2.8 and a consensus among 14 analysts to hold current positions, investors are advised against making impulsive buy or sell decisions. The stock’s recent performance also reveals a fifty-day moving average of $161.80, surpassed by the current price, reinforcing a bullish trend in the near term. However, the variance between the target high of $250.00 and the current valuation underscores the uncertainties in the market. Overall, investors should remain cautious while monitoring Paycom’s performance, holding positions to navigate the complexities of the evolving financial landscape.
| Metric | Value |
|---|---|
| Market Cap | $9.8b |
| Total Debt | N/A |
| Total Cash | $346.5m |
| Shares Outstanding | 57.4m |
| Float Shares | 49.0m |
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