Paycom Software (NYSE:PAYC) Stock Price Crosses Below Fifty Day Moving Average Following Analyst Downgrade

Paycom Software, Inc. (NYSE:PAYC)’s stock price crossed below its fifty day moving average during trading on Friday after Citigroup lowered their price target on the stock from $279.00 to $264.00. The stock has a fifty day moving average of $238.29 and traded as low as $235.83. Citigroup currently has a neutral rating on the stock. Paycom Software shares last traded at $236.2090, with a volume of 1,243,020 shares traded.

Several other equities analysts also recently commented on PAYC. JPMorgan Chase & Co. upped their price objective on Paycom Software from $264.00 to $265.00 and gave the company a “neutral” rating in a research report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday. Stifel Nicolaus increased their price target on Paycom Software from $120.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, August 6th. BTIG Research downgraded Paycom Software from a “buy” rating to a “neutral” rating in a research report on Thursday. Finally, Weiss Ratings raised Paycom Software from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $255.36.

Insider Buying and Selling

In other Paycom Software news, insider Shane Hadlock sold 241 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $240.07, for a total value of $57,856.87. Following the sale, the insider directly owned 69,911 shares of the company’s stock, valued at approximately $16,783,533.77. This trade represents a 0.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 13.20% of the company’s stock.

Hedge Funds Weigh In On Paycom Software

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Paycom Software in the 2nd quarter valued at $632,460,000. Reinhart Partners LLC. raised its holdings in shares of Paycom Software by 20.1% in the 2nd quarter. Reinhart Partners LLC. now owns 1,219,906 shares of the software maker’s stock valued at $153,320,000 after buying an additional 204,191 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Paycom Software by 10.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 538,376 shares of the software maker’s stock valued at $65,435,000 after buying an additional 49,460 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Paycom Software in the 2nd quarter valued at $42,858,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of Paycom Software by 108.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 308,393 shares of the software maker’s stock valued at $67,122,000 after buying an additional 160,185 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Price Performance

The company has a fifty day moving average of $238.29 and a 200-day moving average of $166.73. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.06. The stock has a market cap of $10.63 billion, a PE ratio of 22.61, a P/E/G ratio of 1.26 and a beta of 0.75.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, November 4th. The software maker reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.56. The business had revenue of $543.80 million during the quarter, compared to analysts’ expectations of $535.26 million. Paycom Software had a return on equity of 52.12% and a net margin of 23.28%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.94 EPS. Sell-side analysts expect that Paycom Software, Inc. will post 10.92 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Monday, November 23rd will be given a $0.3750 dividend. The ex-dividend date of this dividend is Monday, November 23rd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.6%. Paycom Software’s dividend payout ratio is 14.37%.

About Paycom Software

Paycom Software, Inc. provides cloud-based human capital management (HCM) software that helps employers manage payroll and related workforce processes through a unified platform. Its services support organizations throughout the employee life cycle, from hiring and onboarding to payroll, benefits administration, time and labor management, and talent management. The company’s platform includes employee self-service tools and Beti, a feature that enables employees to review and complete their own payroll.