Mizuho Trims Paycom Software (NYSE:PAYC) Target Price to $170.00

Paycom Software (NYSE:PAYC) had its price target lowered by Mizuho from $185.00 to $170.00 in a report released on Monday, Benzinga reports. The brokerage currently has a neutral rating on the software maker’s stock.

PAYC has been the topic of several other research reports. UBS Group raised their price target on shares of Paycom Software from $235.00 to $250.00 and gave the stock a buy rating in a research note on Wednesday, January 10th. StockNews.com raised shares of Paycom Software from a hold rating to a buy rating in a research report on Friday, May 3rd. Barclays lowered their price target on Paycom Software from $193.00 to $184.00 and set an equal weight rating for the company in a report on Thursday, May 2nd. BTIG Research started coverage on Paycom Software in a report on Tuesday, February 6th. They set a neutral rating on the stock. Finally, Piper Sandler upped their target price on Paycom Software from $185.00 to $190.00 and gave the stock a neutral rating in a report on Thursday, February 8th. Sixteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Paycom Software presently has a consensus rating of Hold and a consensus target price of $246.31.

Paycom Software Price Performance

Shares of NYSE:PAYC opened at $172.26 on Monday. The business has a 50 day simple moving average of $188.87 and a two-hundred day simple moving average of $192.02. Paycom Software has a 1 year low of $146.15 and a 1 year high of $374.04. The firm has a market capitalization of $10.01 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 EPS for the quarter, beating the consensus estimate of $1.78 by $0.15. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. The company had revenue of $434.60 million for the quarter, compared to the consensus estimate of $422.50 million. During the same quarter in the prior year, the company posted $1.38 EPS. Paycom Software’s quarterly revenue was up 17.3% on a year-over-year basis. Equities research analysts expect that Paycom Software will post 5.82 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Tuesday, May 28th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $1.50 dividend on an annualized basis and a yield of 0.87%. Paycom Software’s dividend payout ratio is presently 18.27%.

Hedge Funds Weigh In On Paycom Software

A number of institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC raised its position in Paycom Software by 17.2% during the third quarter. Commonwealth Equity Services LLC now owns 27,629 shares of the software maker’s stock valued at $7,164,000 after acquiring an additional 4,046 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Paycom Software by 18.4% during the 3rd quarter. Raymond James & Associates now owns 12,450 shares of the software maker’s stock valued at $3,228,000 after purchasing an additional 1,935 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Paycom Software by 19.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 27,862 shares of the software maker’s stock valued at $7,224,000 after purchasing an additional 4,495 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in Paycom Software by 41.0% during the third quarter. Stratos Wealth Partners LTD. now owns 2,303 shares of the software maker’s stock worth $597,000 after buying an additional 670 shares in the last quarter. Finally, Forsta AP Fonden grew its position in Paycom Software by 2.6% during the third quarter. Forsta AP Fonden now owns 11,900 shares of the software maker’s stock valued at $3,085,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Company Profile

Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.