Paycom Software Inc. shares climbed to a 52-week high of $233.10 on Tuesday, closing just below the prior session’s peak of $234.60.
The Oklahoma City-based human capital management software provider posted second-quarter revenue of $531.2 million, a 10% increase from the same period last year and above the $513.08 million consensus estimate. Recurring revenue, which accounted for 95.1% of total revenue, rose 11% year-over-year to $505.2 million.
Adjusted earnings per share reached $2.78, exceeding the analyst average of $2.38. The company’s stock has surged 86.63% over the past six months and is up 45.11% year-to-date, while posting a modest 2.51% gain over the prior 12 months.
Analysts at Guggenheim maintained a Buy rating but raised their price target to $225, while BTIG also kept its Buy rating with an increased target of $230.
