Paycom Software (NYSE:PAYC) Price Target Raised to $279.00

Paycom Software (NYSE:PAYC) had its target price boosted by Citigroup from $194.00 to $279.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the software maker’s stock.

A number of other research firms have also recently commented on PAYC. Guggenheim upped their target price on Paycom Software from $225.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. JPMorgan Chase & Co. raised their price target on Paycom Software from $140.00 to $264.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 25th. Weiss Ratings upgraded Paycom Software from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. BTIG Research upped their price objective on Paycom Software from $230.00 to $305.00 and gave the company a “buy” rating in a research report on Monday. Finally, Barclays upped their price objective on Paycom Software from $210.00 to $250.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 13th. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $249.79.

Paycom Software Trading Down 0.9%

Shares of PAYC opened at $260.50 on Tuesday. Paycom Software has a twelve month low of $104.90 and a twelve month high of $275.22. The company has a market cap of $11.74 billion, a P/E ratio of 27.68, a P/E/G ratio of 1.41 and a beta of 0.82. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.57. The company’s fifty day simple moving average is $235.07 and its 200-day simple moving average is $163.59.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, August 5th. The software maker reported $2.78 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 firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.06 EPS. As a group, analysts expect that Paycom Software will post 10.80 EPS for the current year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 24th were issued a $0.3750 dividend. The ex-dividend date was 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 presently 15.94%.

Insider Transactions at Paycom Software

In related news, insider Shane Hadlock sold 2,577 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $237.60, for a total value of $612,295.20. Following the transaction, the insider owned 70,152 shares of the company’s stock, valued at $16,668,115.20. This represents a 3.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 13.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Paycom Software

Hedge funds have recently made changes to their positions in the company. Bridge City Capital LLC increased its holdings in Paycom Software by 62.1% in the third quarter. Bridge City Capital LLC now owns 23,677 shares of the software maker’s stock valued at $5,153,000 after buying an additional 9,071 shares in the last quarter. Greenleaf Trust acquired a new position in shares of Paycom Software in the third quarter worth about $204,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Paycom Software during the 3rd quarter worth about $2,790,000. Vise Technologies Inc. purchased a new stake in shares of Paycom Software during the 3rd quarter worth about $998,000. Finally, MGO One Seven LLC purchased a new stake in shares of Paycom Software during the 3rd quarter worth about $217,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

About Paycom Software

Paycom Software, Inc is a provider of cloud-based human capital management (HCM) software designed to help businesses manage employee-related processes through a unified platform. Its solutions support payroll, human resources, talent acquisition and management, time and labor management, compliance, and employee engagement.

The company’s software is intended to allow employers and employees to enter and manage workforce information within a single system. Its offerings include payroll processing, benefits administration, expense management, scheduling, performance management, learning, and recruiting tools.