Paycom Software, Inc. (NYSE:PAYC) Given Average Recommendation of “Hold” by Brokerages

Shares of Paycom Software, Inc. (NYSE:PAYC) have received an average rating of “Hold” from the nineteen analysts that are currently covering the firm, Marketbeat reports. Sixteen research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $257.18.

PAYC has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price target on Paycom Software from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $195.00 price target on shares of Paycom Software in a research report on Friday, January 5th. Piper Sandler increased their price objective on Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Citigroup dropped their target price on shares of Paycom Software from $205.00 to $198.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 31st. Finally, BTIG Research began coverage on shares of Paycom Software in a research report on Tuesday, February 6th. They issued a “neutral” rating for the company.

Paycom Software Stock Performance

PAYC opened at $193.14 on Tuesday. Paycom Software has a twelve month low of $146.15 and a twelve month high of $374.04. The business has a 50 day moving average price of $189.87 and a 200 day moving average price of $195.96. The firm has a market cap of $11.12 billion, a P/E ratio of 32.74, a price-to-earnings-growth ratio of 3.22 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. Paycom Software had a net margin of 20.12% and a return on equity of 24.60%. The business had revenue of $434.60 million during the quarter, compared to analysts’ expectations of $422.50 million. During the same period in the previous year, the company earned $1.38 earnings per share. Paycom Software’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, analysts anticipate that Paycom Software will post 5.73 earnings per share for the current fiscal 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 given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.78%. Paycom Software’s payout ratio is currently 25.42%.

Institutional Trading of Paycom Software

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its stake in shares of Paycom Software by 16,173.6% in the 4th quarter. International Assets Investment Management LLC now owns 787,803 shares of the software maker’s stock valued at $162,855,000 after purchasing an additional 782,962 shares during the last quarter. ValueAct Holdings L.P. bought a new stake in shares of Paycom Software during the 4th quarter valued at $125,686,000. Meritage Group LP acquired a new position in shares of Paycom Software in the 3rd quarter valued at $103,800,000. Boston Trust Walden Corp bought a new position in shares of Paycom Software in the 4th quarter worth $48,865,000. Finally, DSM Capital Partners LLC acquired a new stake in shares of Paycom Software during the third quarter worth $60,077,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

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.