JPMorgan Chase & Co. Raises Paycom Software (NYSE:PAYC) Price Target to $175.00

Paycom Software (NYSE:PAYC) had its target price increased by JPMorgan Chase & Co. from $165.00 to $175.00 in a report issued on Thursday morning, Benzinga reports. They currently have a neutral rating on the software maker’s stock.

Several other equities research analysts also recently issued reports on PAYC. Piper Sandler upped their price target on Paycom Software from $185.00 to $190.00 and gave the stock a neutral rating in a report on Thursday, February 8th. BTIG Research started coverage on shares of Paycom Software in a report on Tuesday, February 6th. They issued a neutral rating for the company. Citigroup cut their price target on shares of Paycom Software from $205.00 to $198.00 and set a neutral rating on the stock in a report on Wednesday, January 31st. Jefferies Financial Group reiterated a hold rating and issued a $195.00 price objective on shares of Paycom Software in a research note on Friday, January 5th. Finally, UBS Group upped their target price on Paycom Software from $235.00 to $250.00 and gave the company a buy rating in a report on Wednesday, January 10th. Sixteen research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $246.31.

Paycom Software Stock Up 1.0 %

PAYC traded up $1.69 during midday 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 52 week low of $146.15 and a 52 week high of $374.04. The company has a market capitalization of $10.05 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 2.84 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 EPS for the quarter, beating the consensus estimate of $1.78 by $0.15. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. The firm had revenue of $434.60 million during the quarter, compared to the consensus estimate of $422.50 million. During the same quarter in the previous year, the company posted $1.38 earnings per share. The company’s quarterly revenue was up 17.3% on a year-over-year basis. Research analysts predict that Paycom Software will post 5.82 EPS for the current year.

Paycom Software Announces Dividend

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

Institutional Investors Weigh In On Paycom Software

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Paycom Software by 1.2% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,500 shares of the software maker’s stock worth $1,167,000 after acquiring an additional 52 shares in the last quarter. HBK Sorce Advisory LLC boosted its stake in Paycom Software by 5.9% in the 4th quarter. HBK Sorce Advisory LLC now owns 986 shares of the software maker’s stock worth $204,000 after purchasing an additional 55 shares in the last quarter. Renaissance Group LLC grew its holdings in shares of Paycom Software by 1.1% during the third quarter. Renaissance Group LLC now owns 5,391 shares of the software maker’s stock valued at $1,398,000 after buying an additional 61 shares during the last quarter. Optas LLC boosted its stake in Paycom Software by 6.1% during the 1st quarter. Optas LLC now owns 1,059 shares of the software maker’s stock valued at $211,000 after purchasing an additional 61 shares during the last quarter. Finally, Bouvel Investment Partners LLC increased its holdings in shares of Paycom Software by 1.0% in the 4th quarter. Bouvel Investment Partners LLC now owns 6,431 shares of the software maker’s stock worth $1,329,000 after purchasing an additional 63 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other 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.