Paycom Software’s (PAYC) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Paycom Software (NYSE:PAYC) in a research note issued to investors on Thursday morning,Benzinga reports.

A number of other equities research analysts have also issued reports on PAYC. Citigroup dropped their price target on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. BMO Capital Markets raised their target price on Paycom Software from $215.00 to $244.00 and gave the stock a “market perform” rating in a research note on Thursday. Piper Sandler upped their price objective on shares of Paycom Software from $224.00 to $246.00 and gave the company a “neutral” rating in a report on Thursday. Stifel Nicolaus reduced their target price on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. Finally, StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $226.90.

Paycom Software Stock Performance

Shares of NYSE PAYC opened at $252.95 on Thursday. The firm has a fifty day moving average of $217.84 and a 200 day moving average of $214.97. The firm has a market cap of $14.63 billion, a PE ratio of 28.42, a PEG ratio of 2.40 and a beta of 0.80. Paycom Software has a one year low of $139.50 and a one year high of $255.12.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.18. The business had revenue of $530.50 million during the quarter, compared to analysts’ expectations of $522.92 million. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.59 earnings per share. On average, equities analysts predict that Paycom Software will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.50 annualized dividend and a yield of 0.59%. Paycom Software’s dividend payout ratio (DPR) is presently 16.85%.

Insider Activity at Paycom Software

In related news, CEO Chad R. Richison sold 120,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $243.52, for a total value of $29,222,400.00. Following the transaction, the chief executive officer now owns 3,307,249 shares in the company, valued at approximately $805,381,276.48. This trade represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $201.01, for a total value of $603,030.00. Following the completion of the sale, the insider now owns 28,733 shares of the company’s stock, valued at approximately $5,775,620.33. This represents a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,100 shares of company stock worth $30,698,424. 10.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Paycom Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sylebra Capital LLC raised its position in shares of Paycom Software by 63.8% in the 4th quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker’s stock valued at $658,996,000 after purchasing an additional 1,252,617 shares in the last quarter. FMR LLC boosted its stake in Paycom Software by 137.8% during the 4th quarter. FMR LLC now owns 2,396,452 shares of the software maker’s stock valued at $491,201,000 after acquiring an additional 1,388,533 shares during the last quarter. Baillie Gifford & Co. boosted its stake in Paycom Software by 1,918.4% during the 1st quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker’s stock valued at $346,180,000 after acquiring an additional 1,505,990 shares during the last quarter. Geode Capital Management LLC grew its holdings in Paycom Software by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 1,516,768 shares of the software maker’s stock worth $310,245,000 after acquiring an additional 89,848 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Paycom Software by 10.9% in the 4th quarter. Northern Trust Corp now owns 724,016 shares of the software maker’s stock valued at $148,402,000 after purchasing an additional 70,897 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other 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.