Paycom Software, Inc. (NYSE:PAYC) Receives $212.80 Average Target Price from Analysts

Paycom Software, Inc. (NYSE:PAYC) has earned a consensus rating of “Hold” from the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $226.90.

Several equities research analysts recently issued reports on PAYC shares. KeyCorp raised their target price on shares of Paycom Software from $245.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday. Citigroup decreased their target price on Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Barclays lifted their price objective on shares of Paycom Software from $221.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday. Piper Sandler raised their target price on shares of Paycom Software from $224.00 to $246.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday.

Paycom Software Stock Performance

Shares of NYSE PAYC opened at $252.95 on Friday. The stock has a market capitalization of $14.63 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80. Paycom Software has a 52 week low of $139.50 and a 52 week high of $255.12. The stock has a 50 day moving average price of $217.84 and a 200 day moving average price of $214.62.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.18. The business had revenue of $530.50 million during the quarter, compared to analysts’ expectations of $522.92 million. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. During the same period last year, the business earned $2.59 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. As a group, research analysts forecast that Paycom Software will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.50 annualized dividend and a yield of 0.59%. Paycom Software’s dividend payout ratio is presently 16.85%.

Insider Activity

In related news, COO Randall Peck sold 3,600 shares of Paycom Software stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $212.19, for a total value of $763,884.00. Following the transaction, the chief operating officer now directly owns 50,665 shares of the company’s stock, valued at $10,750,606.35. This trade represents a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Chad R. Richison sold 120,000 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $243.52, for a total transaction of $29,222,400.00. Following the transaction, the chief executive officer now owns 3,307,249 shares of the company’s stock, valued at approximately $805,381,276.48. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 127,100 shares of company stock worth $30,698,424. 10.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Paycom Software

Several hedge funds and other institutional investors have recently modified their holdings of the business. Glass Jacobson Investment Advisors llc grew its position in Paycom Software by 746.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker’s stock valued at $26,000 after acquiring an additional 112 shares during the last quarter. von Borstel & Associates Inc. acquired a new position in Paycom Software during the 1st quarter worth approximately $27,000. Murphy & Mullick Capital Management Corp bought a new position in Paycom Software in the 4th quarter valued at approximately $30,000. Golden State Wealth Management LLC boosted its position in Paycom Software by 112.3% in the first quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker’s stock valued at $30,000 after buying an additional 73 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Paycom Software by 135.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker’s stock worth $33,000 after buying an additional 87 shares during the last quarter. 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.