Paycom Software (NYSE:PAYC) Price Target Lowered to $200.00 at TD Cowen

Paycom Software (NYSE:PAYC) had its target price reduced by TD Cowen from $258.00 to $200.00 in a report issued on Thursday morning,Benzinga reports. They currently have a buy rating on the software maker’s stock.

A number of other research firms have also weighed in on PAYC. Zacks Research lowered shares of Paycom Software from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 22nd. Cantor Fitzgerald raised shares of Paycom Software to a “hold” rating in a research report on Thursday, September 11th. Jefferies Financial Group dropped their price objective on shares of Paycom Software from $250.00 to $225.00 and set a “hold” rating on the stock in a research note on Monday, October 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Paycom Software in a research note on Wednesday, October 8th. Finally, Barclays dropped their target price on Paycom Software from $225.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Thursday. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $225.77.

Paycom Software Stock Down 10.7%

Shares of NYSE:PAYC opened at $163.97 on Thursday. The business’s 50 day moving average is $207.15 and its 200 day moving average is $226.49. The stock has a market cap of $9.49 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 2.03 and a beta of 0.88. Paycom Software has a 52-week low of $156.50 and a 52-week high of $267.76.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, November 5th. The software maker reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.02). Paycom Software had a net margin of 22.65% and a return on equity of 24.83%. The firm had revenue of $493.30 million for the quarter, compared to the consensus estimate of $492.62 million. During the same period last year, the firm earned $1.67 earnings per share. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. Paycom Software has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Paycom Software will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 8th. Stockholders of record on Monday, November 24th will be given a $0.375 dividend. The ex-dividend date of this dividend is Monday, November 24th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.9%. Paycom Software’s dividend payout ratio (DPR) is presently 20.30%.

Insider Transactions at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction dated 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 directly owned 24,533 shares in the company, valued at approximately $5,477,482.91. This trade represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 10.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Paycom Software

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in 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 raised its holdings in shares of Paycom Software by 8.4% in the second 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. lifted its stake in shares of Paycom Software by 10.3% during the third 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 period. Geode Capital Management LLC grew its holdings in shares of Paycom Software by 5.3% during the second quarter. Geode Capital Management LLC now owns 1,661,685 shares of the software maker’s stock valued at $383,265,000 after buying an additional 83,154 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Paycom Software by 5.0% during the 1st quarter. Invesco Ltd. now owns 1,233,057 shares of the software maker’s stock worth $269,398,000 after acquiring an additional 58,176 shares during the period. Hedge funds and other 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.