Paycom Software, Inc. (NYSE:PAYC) Receives Consensus Rating of “Hold” from Brokerages

Paycom Software, Inc. (NYSE:PAYC) has received an average rating of “Hold” from the fifteen analysts that are covering the stock, MarketBeat reports. Nine equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $208.0769.

A number of equities analysts recently commented on the company. Weiss Ratings raised Paycom Software from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. UBS Group lifted their price objective on Paycom Software from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Guggenheim upped their price objective on Paycom Software from $180.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. KeyCorp raised their target price on shares of Paycom Software from $195.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Paycom Software from $140.00 to $264.00 and gave the stock a “neutral” rating in a research report on Tuesday.

Paycom Software Price Performance

Shares of NYSE:PAYC opened at $238.07 on Friday. The company has a market capitalization of $10.73 billion, a P/E ratio of 25.30, a P/E/G ratio of 1.31 and a beta of 0.76. Paycom Software has a 1-year low of $104.90 and a 1-year high of $239.92. The firm’s 50 day simple moving average is $168.95 and its two-hundred day simple moving average is $142.82. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.07 and a quick ratio of 1.07.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.40. The firm had revenue of $531.20 million during the quarter, compared to analysts’ expectations of $513.12 million. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.06 earnings per share. Research analysts expect that Paycom Software will post 10.48 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th will be issued a $0.375 dividend. The ex-dividend date is Monday, August 24th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.6%. Paycom Software’s payout ratio is 15.94%.

Hedge Funds Weigh In On Paycom Software

A number of large investors have recently made changes to their positions in PAYC. California State Teachers Retirement System grew its holdings in shares of Paycom Software by 9,363.4% in the second quarter. California State Teachers Retirement System now owns 5,681,993 shares of the software maker’s stock worth $714,113,000 after purchasing an additional 5,621,951 shares during the last quarter. BlackRock Inc. bought a new stake in Paycom Software during the 2nd quarter valued at about $632,460,000. State Street Corp lifted its holdings in Paycom Software by 0.4% during the 4th quarter. State Street Corp now owns 2,165,546 shares of the software maker’s stock valued at $345,101,000 after buying an additional 8,419 shares in the last quarter. First Trust Advisors LP boosted its position in Paycom Software by 19.9% in the 4th quarter. First Trust Advisors LP now owns 1,665,529 shares of the software maker’s stock valued at $265,419,000 after buying an additional 275,954 shares during the period. Finally, Invesco Ltd. boosted its position in Paycom Software by 28.2% in the 4th quarter. Invesco Ltd. now owns 1,559,682 shares of the software maker’s stock valued at $248,551,000 after buying an additional 343,494 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Company Profile

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.