BMO Capital Markets Lowers Paycom Software (NYSE:PAYC) Price Target to $190.00

Paycom Software (NYSE:PAYC) had its price target decreased by BMO Capital Markets from $200.00 to $190.00 in a research report sent to investors on Thursday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the software maker’s stock.

Other research analysts have also recently issued reports about the stock. BTIG Research started coverage on shares of Paycom Software in a research note on Tuesday, February 6th. They issued a neutral rating on the stock. Needham & Company LLC restated a hold rating on shares of Paycom Software in a research report on Thursday. Citigroup decreased 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. Piper Sandler increased their target price on shares of Paycom Software from $185.00 to $190.00 and gave the stock a neutral rating in a report on Thursday, February 8th. Finally, UBS Group upped their price objective on shares of Paycom Software from $235.00 to $250.00 and gave the stock a buy rating in a research report on Wednesday, January 10th. Sixteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $246.31.

Paycom Software Stock Performance

Shares of PAYC stock traded up $1.69 during trading on Thursday, hitting $172.98. The company had a trading volume of 254,365 shares, compared to its average volume of 864,829. The stock’s 50-day moving average price is $189.34 and its 200 day moving average price is $193.38. Paycom Software has a one year low of $146.15 and a one year high of $374.04. The firm has a market capitalization of $10.05 billion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. The company had revenue of $434.60 million for the quarter, compared to analysts’ expectations of $422.50 million. During the same quarter last year, the business earned $1.38 earnings per share. Paycom Software’s revenue was up 17.3% on a year-over-year basis. On average, research analysts anticipate that Paycom Software will post 5.82 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Friday, May 24th. Paycom Software’s payout ratio is 18.27%.

Institutional Investors Weigh In On Paycom Software

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mather Group LLC. bought a new stake in Paycom Software in the 1st quarter valued at about $26,000. Hexagon Capital Partners LLC raised its position in shares of Paycom Software by 333.3% during the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock worth $27,000 after purchasing an additional 100 shares during the period. Cary Street Partners Investment Advisory LLC lifted its holdings 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 worth $40,000 after purchasing an additional 71 shares in the last quarter. Palisade Asset Management LLC acquired a new stake in Paycom Software in the 1st quarter valued at $32,000. Finally, Transcendent Capital Group LLC bought a new stake in Paycom Software during the 4th quarter valued at $41,000. 87.77% of the stock is owned by institutional investors.

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.