Cantor Fitzgerald Issues Positive Forecast for Paycom Software (NYSE:PAYC) Stock Price

Paycom Software (NYSE:PAYC) had its price target lifted by Cantor Fitzgerald from $195.00 to $285.00 in a research report released on Friday,Benzinga reports. The firm currently has a neutral rating on the software maker’s stock.

PAYC has been the topic of a number of other research reports. Wall Street Zen cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Sunday, September 6th. BTIG Research raised their price target on Paycom Software from $230.00 to $305.00 and gave the company a “buy” rating in a report on Monday, October 26th. BMO Capital Markets lifted their target price on Paycom Software from $145.00 to $208.00 and gave the company a “market perform” rating in a research note on Thursday, August 6th. Zacks Research lowered shares of Paycom Software from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Citigroup boosted their price target on shares of Paycom Software from $194.00 to $279.00 and gave the stock a “neutral” rating in a research note on Tuesday. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $256.21.

Paycom Software Stock Up 1.1%

PAYC stock opened at $263.51 on Friday. The company has a market cap of $11.88 billion, a price-to-earnings ratio of 30.07, a P/E/G ratio of 1.39 and a beta of 0.82. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.07 and a current ratio of 1.07. The business’s 50-day moving average is $235.83 and its two-hundred day moving average is $164.12. Paycom Software has a fifty-two week low of $104.90 and a fifty-two week high of $275.22.

Paycom Software (NYSE:PAYC) last posted 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. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The company had revenue of $531.20 million for the quarter, compared to the consensus estimate of $513.12 million. During the same quarter last year, the firm posted $2.06 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. As a group, analysts forecast that Paycom Software will post 10.80 earnings per share for the current year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th were paid a $0.3750 dividend. The ex-dividend date was Monday, August 24th. This represents a $1.50 dividend on an annualized basis and a yield of 0.6%. Paycom Software’s dividend payout ratio (DPR) is presently 15.94%.

Insiders Place Their Bets

In other Paycom Software news, insider Shane Hadlock sold 241 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $240.07, for a total value of $57,856.87. Following the completion of the sale, the insider directly owned 69,911 shares of the company’s stock, valued at $16,783,533.77. The trade was a 0.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Paycom Software

Several hedge funds have recently made changes to their positions in PAYC. Provenance Wealth Advisors LLC purchased a new stake in shares of Paycom Software during the third quarter valued at about $48,000. Associated Banc Corp purchased a new position in Paycom Software in the third quarter worth $11,261,000. Bridge City Capital LLC grew 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 worth $5,153,000 after purchasing an additional 9,071 shares during the last quarter. Greenleaf Trust purchased a new stake in shares of Paycom Software during the 3rd quarter valued at $204,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Paycom Software during the 3rd quarter worth $2,790,000. 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.