Paycom Software (NYSE:PAYC) Price Target Raised to $295.00

Paycom Software (NYSE:PAYC) had its price objective lifted by KeyCorp from $280.00 to $295.00 in a report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the software maker’s stock.

PAYC has been the topic of a number of other research reports. Weiss Ratings raised shares of Paycom Software from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Barclays lifted their price objective on shares of Paycom Software from $210.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 13th. Cantor Fitzgerald boosted their target price on shares of Paycom Software from $135.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. upped their target price on shares of Paycom Software from $140.00 to $264.00 and gave the company a “neutral” rating in a research report on Tuesday, August 25th. Finally, BMO Capital Markets increased their price target on shares of Paycom Software from $145.00 to $208.00 and gave the company a “market perform” rating in a report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $256.21.

Paycom Software Stock Performance

Shares of PAYC opened at $263.51 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.57. The business’s 50 day moving average price is $235.83 and its 200-day moving average price is $164.12. Paycom Software has a 52 week low of $104.90 and a 52 week high of $275.22. The stock has a market cap of $11.88 billion, a P/E ratio of 30.07, a P/E/G ratio of 1.39 and a beta of 0.82.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.40. The company had revenue of $531.20 million for 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 quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $2.06 earnings per share. Equities research analysts anticipate that Paycom Software will post 10.80 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th were issued a $0.3750 dividend. This represents a $1.50 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, August 24th. Paycom Software’s payout ratio is currently 15.94%.

Insider Activity

In other news, insider Shane Hadlock sold 2,577 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $237.60, for a total transaction of $612,295.20. Following the transaction, the insider directly owned 70,152 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this hyperlink. Insiders own 13.20% of the company’s stock.

Institutional Investors Weigh In On Paycom Software

Institutional investors have recently added to or reduced their stakes in the business. Provenance Wealth Advisors LLC acquired a new position in Paycom Software during the third quarter valued at approximately $48,000. Associated Banc Corp bought a new stake in shares of Paycom Software during the 3rd quarter worth approximately $11,261,000. Bridge City Capital LLC boosted its holdings in shares of Paycom Software by 62.1% in the 3rd 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 during the last quarter. Greenleaf Trust acquired a new stake in shares of Paycom Software in the 3rd quarter valued at approximately $204,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Paycom Software in the 3rd quarter valued at approximately $2,790,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Company Profile

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.