Paycom Software, Inc. (NYSE:PAYC) Receives $234.36 Consensus Price Target from Analysts

Shares of Paycom Software, Inc. (NYSE:PAYC) have been assigned a consensus recommendation of “Hold” from the twelve brokerages that are covering the stock, MarketBeat reports. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $234.3636.

A number of research firms recently weighed in on PAYC. Barclays upped their price target on Paycom Software from $240.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. upped their price target on Paycom Software from $215.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. BMO Capital Markets lifted their price objective on shares of Paycom Software from $244.00 to $258.00 and gave the company a “market perform” rating in a report on Thursday, August 7th. Cantor Fitzgerald initiated coverage on shares of Paycom Software in a report on Thursday, August 14th. They set a “neutral” rating and a $230.00 price objective for the company. Finally, KeyCorp lifted their price objective on shares of Paycom Software from $285.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, August 7th.

Paycom Software Trading Down 0.9%

NYSE:PAYC opened at $222.26 on Friday. The stock has a market capitalization of $12.86 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 2.46 and a beta of 0.81. The firm has a fifty day simple moving average of $227.53 and a two-hundred day simple moving average of $229.54. Paycom Software has a 12 month low of $158.03 and a 12 month high of $267.76.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.28. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The business had revenue of $483.60 million for the quarter, compared to the consensus estimate of $472.00 million. During the same period in the prior year, the business earned $1.62 EPS. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. Equities analysts predict that Paycom Software will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 25th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, August 25th. Paycom Software’s dividend payout ratio (DPR) is currently 20.30%.

Insider Activity

In other news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $249.96, for a total transaction of $374,940.00. Following the completion of the transaction, the insider directly owned 27,233 shares in the company, valued at $6,807,160.68. This trade represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Paycom Software

Institutional investors have recently modified their holdings of the business. SouthState Corp bought a new position in shares of Paycom Software in the first quarter valued at approximately $27,000. von Borstel & Associates Inc. bought a new position in shares of Paycom Software in the first quarter valued at approximately $27,000. CYBER HORNET ETFs LLC bought a new position in shares of Paycom Software in the second quarter valued at approximately $29,000. Golden State Wealth Management LLC grew its holdings in shares of Paycom Software by 112.3% in the first quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker’s stock valued at $30,000 after acquiring an additional 73 shares in the last quarter. Finally, MUFG Securities EMEA plc bought a new position in shares of Paycom Software in the second quarter valued at approximately $33,000. 87.77% of the stock is owned by institutional investors.

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.