Paycom Software (NYSE:PAYC) PT Lowered to $184.00 at Barclays

Paycom Software (NYSE:PAYC) had its price objective reduced by Barclays from $193.00 to $184.00 in a report issued on Thursday, Benzinga reports. Barclays currently has an equal weight rating on the software maker’s stock.

Several other research analysts have also recently issued reports on the company. Citigroup cut their target price on Paycom Software from $205.00 to $198.00 and set a neutral rating on the stock in a research report on Wednesday, January 31st. JPMorgan Chase & Co. lifted their price objective on shares of Paycom Software from $165.00 to $175.00 and gave the stock a neutral rating in a report on Thursday. BTIG Research initiated coverage on shares of Paycom Software in a report on Tuesday, February 6th. They issued a neutral rating for the company. UBS Group raised their price target on shares of Paycom Software from $235.00 to $250.00 and gave the company a buy rating in a research report on Wednesday, January 10th. Finally, Piper Sandler upped their price objective on shares of Paycom Software from $185.00 to $190.00 and gave the stock a neutral rating in a research report on Thursday, February 8th. Sixteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average target price of $247.25.

Paycom Software Trading Up 2.7 %

PAYC opened at $171.29 on Thursday. Paycom Software has a 1-year low of $146.15 and a 1-year high of $374.04. The company has a market cap of $9.86 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 2.92 and a beta of 1.17. The company’s fifty day moving average price is $189.34 and its two-hundred day moving average price is $193.90.

Paycom Software (NYSE:PAYC) last posted its earnings results 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. The company had revenue of $434.60 million for the quarter, compared to analyst estimates of $422.50 million. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. The firm’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.38 EPS. As a group, equities analysts forecast that Paycom Software will post 5.82 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Tuesday, May 28th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Friday, May 24th. Paycom Software’s dividend payout ratio is currently 18.27%.

Hedge Funds Weigh In On Paycom Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Paycom Software by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 5,936,910 shares of the software maker’s stock valued at $1,227,278,000 after purchasing an additional 137,583 shares during the period. American Century Companies Inc. raised its holdings in Paycom Software by 18.8% during 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% during 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. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in shares of Paycom Software by 7.9% during the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 977,055 shares of the software maker’s stock worth $182,426,000 after acquiring an additional 71,272 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Paycom Software by 16,173.6% in the fourth quarter. International Assets Investment Management LLC now owns 787,803 shares of the software maker’s stock worth $162,855,000 after acquiring an additional 782,962 shares during the period. Institutional investors own 87.77% of the company’s stock.

About Paycom Software

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.