Paycom Software, Inc. (NYSE:PAYC) Receives Average Recommendation of “Hold” from Brokerages

Shares of Paycom Software, Inc. (NYSE:PAYC) have received an average rating of “Hold” from the sixteen ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $243.6923.

A number of research firms recently weighed in on PAYC. UBS Group reduced their price objective on Paycom Software from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, September 17th. Cantor Fitzgerald raised Paycom Software to a “hold” rating in a research report on Thursday, September 11th. JPMorgan Chase & Co. raised their price objective on Paycom Software from $215.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. BMO Capital Markets lifted their target price on Paycom Software from $244.00 to $258.00 and gave the stock a “market perform” rating in a report on Thursday, August 7th. Finally, Jefferies Financial Group reduced their target price on Paycom Software from $250.00 to $225.00 and set a “hold” rating for the company in a report on Monday, October 13th.

Paycom Software Stock Up 1.1%

PAYC stock opened at $187.33 on Friday. Paycom Software has a twelve month low of $183.76 and a twelve month high of $267.76. The firm has a market cap of $10.84 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 2.05 and a beta of 0.82. The business has a 50 day moving average of $211.07 and a 200 day moving average of $227.56.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.28. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The company had revenue of $483.60 million during the quarter, compared to analyst estimates of $472.00 million. During the same quarter last year, the company earned $1.62 EPS. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, research analysts expect that Paycom Software will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 25th were issued a $0.375 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.8%. Paycom Software’s dividend payout ratio (DPR) is presently 20.30%.

Insider Activity at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction on Friday, September 12th. The stock was sold at an average price of $223.27, for a total value of $334,905.00. Following the completion of the sale, the insider owned 24,533 shares of the company’s stock, valued at approximately $5,477,482.91. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.90% of the company’s stock.

Institutional Trading of Paycom Software

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Paycom Software by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 5,623,570 shares of the software maker’s stock worth $1,301,294,000 after purchasing an additional 165,647 shares in the last quarter. State Street Corp boosted its stake in shares of Paycom Software by 8.4% in the 2nd quarter. State Street Corp now owns 2,097,910 shares of the software maker’s stock worth $485,456,000 after buying an additional 162,477 shares during the last quarter. Baillie Gifford & Co. boosted its stake in shares of Paycom Software by 10.3% in the 3rd quarter. Baillie Gifford & Co. now owns 1,708,662 shares of the software maker’s stock worth $355,641,000 after buying an additional 158,967 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Paycom Software by 5.3% in the 2nd quarter. Geode Capital Management LLC now owns 1,661,685 shares of the software maker’s stock worth $383,265,000 after buying an additional 83,154 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Paycom Software by 5.0% in the 1st quarter. Invesco Ltd. now owns 1,233,057 shares of the software maker’s stock worth $269,398,000 after buying an additional 58,176 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

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.