StockNews.com Lowers Paycom Software (NYSE:PAYC) to Hold

StockNews.com lowered shares of Paycom Software (NYSE:PAYCFree Report) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

PAYC has been the subject of several other research reports. William Blair reissued a market perform rating on shares of Paycom Software in a report on Thursday, May 2nd. Piper Sandler upped their target price on shares of Paycom Software from $185.00 to $190.00 and gave the stock a neutral rating in a research note on Thursday, February 8th. Mizuho reduced their target price on shares of Paycom Software from $185.00 to $170.00 and set a neutral rating for the company in a research note on Monday, May 6th. Barclays reduced their target price on shares of Paycom Software from $193.00 to $184.00 and set an equal weight rating for the company in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. upped their target price on shares of Paycom Software from $165.00 to $175.00 and gave the stock a neutral rating in a research note on Thursday, May 2nd. Seventeen analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Paycom Software has a consensus rating of Hold and a consensus price target of $246.31.

View Our Latest Report on PAYC

Paycom Software Stock Up 0.5 %

Shares of PAYC stock opened at $180.65 on Monday. Paycom Software has a 12-month low of $146.15 and a 12-month high of $374.04. The firm has a market capitalization of $10.50 billion, a price-to-earnings ratio of 22.00, a price-to-earnings-growth ratio of 2.83 and a beta of 1.17. The firm has a fifty day moving average of $188.06 and a 200-day moving average of $188.99.

Paycom Software (NYSE:PAYCGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The software maker reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $2.29. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. The company had revenue of $499.88 million during the quarter, compared to analyst estimates of $495.89 million. Research analysts expect that Paycom Software will post 6.16 earnings per share for the current year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Friday, May 24th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.83%. Paycom Software’s payout ratio is 18.27%.

Insider Activity

In other news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $180.82, for a total value of $352,599.00. Following the sale, the chief executive officer now directly owns 3,091,958 shares of the company’s stock, valued at approximately $559,087,845.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 12.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Paycom Software by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 5,936,910 shares of the software maker’s stock valued at $1,227,278,000 after acquiring an additional 137,583 shares during the period. Sylebra Capital LLC bought a new position in Paycom Software in the 1st quarter valued at about $253,196,000. American Century Companies Inc. raised its holdings in Paycom Software by 18.8% in the 3rd quarter. American Century Companies Inc. now owns 1,139,511 shares of the software maker’s stock valued at $295,441,000 after acquiring an additional 180,202 shares during the period. Brown Capital Management LLC raised its holdings in Paycom Software by 10.1% in the 4th quarter. Brown Capital Management LLC now owns 1,106,045 shares of the software maker’s stock valued at $228,642,000 after acquiring an additional 101,744 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in Paycom Software by 7.9% in the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 977,055 shares of the software maker’s stock valued at $182,426,000 after acquiring an additional 71,272 shares during the period. 87.77% of the stock is owned by institutional investors.

Paycom Software Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Paycom Software (NYSE:PAYC)

Receive News & Ratings for Paycom Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paycom Software and related companies with MarketBeat.com's FREE daily email newsletter.