TD Cowen Cuts Paycom Software (NYSE:PAYC) Price Target to $184.00

Paycom Software (NYSE:PAYC) had its price target decreased by TD Cowen from $200.00 to $184.00 in a research report report published on Thursday morning,Benzinga reports. TD Cowen currently has a buy rating on the software maker’s stock.

Other equities analysts have also issued reports about the company. UBS Group decreased their target price on Paycom Software from $285.00 to $245.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. JPMorgan Chase & Co. cut their target price on shares of Paycom Software from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Zacks Research raised shares of Paycom Software from a “strong sell” rating to a “hold” rating in a report on Thursday, November 20th. Citigroup reduced their target price on Paycom Software from $191.00 to $185.00 and set a “neutral” rating on the stock in a report on Tuesday, December 23rd. Finally, Jefferies Financial Group decreased their target price on Paycom Software from $225.00 to $190.00 and set a “hold” rating for the company in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $219.86.

Paycom Software Price Performance

PAYC opened at $157.13 on Thursday. Paycom Software has a fifty-two week low of $151.74 and a fifty-two week high of $267.76. The company has a market cap of $8.84 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 1.61 and a beta of 0.82. The firm has a 50 day simple moving average of $163.37 and a 200 day simple moving average of $199.58.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, November 5th. The software maker reported $1.94 EPS for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.02). Paycom Software had a return on equity of 24.79% and a net margin of 22.65%.The business had revenue of $493.30 million for the quarter, compared to analyst estimates of $492.62 million. During the same period in the prior year, the firm posted $1.67 EPS. Paycom Software’s revenue was up 9.2% on a year-over-year basis. As a group, analysts expect that Paycom Software will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 8th. Stockholders of record on Monday, November 24th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, November 24th. Paycom Software’s dividend payout ratio is currently 18.66%.

Insider Activity

In related news, CFO Robert D. Foster sold 1,300 shares of Paycom Software stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $162.66, for a total value of $211,458.00. Following the sale, the chief financial officer owned 14,747 shares of the company’s stock, valued at approximately $2,398,747.02. This trade represents a 8.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 10.90% of the company’s stock.

Hedge Funds Weigh In On Paycom Software

Several hedge funds have recently made changes to their positions in the business. True Wealth Design LLC grew its holdings in shares of Paycom Software by 946.7% in the 4th quarter. True Wealth Design LLC now owns 157 shares of the software maker’s stock valued at $25,000 after acquiring an additional 142 shares in the last quarter. Caitlin John LLC acquired a new position in Paycom Software during the third quarter valued at approximately $29,000. CYBER HORNET ETFs LLC bought a new position in Paycom Software in the second quarter valued at approximately $29,000. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Paycom Software during the 3rd quarter worth approximately $31,000. Finally, MUFG Securities EMEA plc bought a new stake in shares of Paycom Software during the 2nd quarter worth approximately $33,000. 87.77% of the stock is owned by institutional investors.

About Paycom Software

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.