Paycom Software, Inc. (NYSE:PAYC) Receives $257.18 Consensus Price Target from Brokerages

Paycom Software, Inc. (NYSE:PAYC) has received an average rating of “Hold” from the nineteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Sixteen investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $257.18.

PAYC has been the topic of several research reports. Jefferies Financial Group reissued 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 target price on Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Citigroup cut their price target on Paycom Software from $205.00 to $198.00 and set a “neutral” rating for the company in a report on Wednesday, January 31st. BTIG Research initiated coverage on Paycom Software in a research note on Tuesday, February 6th. They set a “neutral” rating on the stock. Finally, UBS Group raised their target price on Paycom Software from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th.

Paycom Software Price Performance

Shares of Paycom Software stock opened at $188.89 on Tuesday. The firm has a market cap of $10.87 billion, a PE ratio of 32.02, a P/E/G ratio of 3.18 and a beta of 1.17. Paycom Software has a 1 year low of $146.15 and a 1 year high of $374.04. The stock has a fifty day moving average price of $189.82 and a 200-day moving average price of $197.06.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. The business had revenue of $434.60 million during the quarter, compared to the consensus estimate of $422.50 million. Paycom Software had a net margin of 20.12% and a return on equity of 24.60%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.38 earnings per share. As a group, equities analysts anticipate that Paycom Software will post 5.73 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.50 annualized dividend and a yield of 0.79%. Paycom Software’s payout ratio is presently 25.42%.

Institutional Trading of Paycom Software

A number of hedge funds have recently made changes to their positions in the stock. Mather Group LLC. bought a new stake in Paycom Software in the 1st quarter worth approximately $26,000. Hexagon Capital Partners LLC lifted its holdings in shares of Paycom Software by 333.3% in the 4th quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock worth $27,000 after acquiring an additional 100 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Paycom Software by 83.5% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock valued at $40,000 after purchasing an additional 71 shares in the last quarter. Transcendent Capital Group LLC bought a new position in shares of Paycom Software during the 4th quarter valued at $41,000. Finally, Headlands Technologies LLC purchased a new position in Paycom Software in the 3rd quarter worth $52,000. 87.77% of the stock is owned by 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.