Brokerages Set Paycom Software, Inc. (NYSE:PAYC) Target Price at $204.69

Paycom Software, Inc. (NYSE:PAYC) has been assigned a consensus recommendation of “Hold” from the fifteen analysts that are covering the firm, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $208.0769.

A number of research firms recently issued reports on PAYC. Citigroup boosted their target price on shares of Paycom Software from $136.00 to $194.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Guggenheim increased their price target on shares of Paycom Software from $180.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. UBS Group lifted their price target on shares of Paycom Software from $195.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 6th. KeyCorp boosted their price objective on shares of Paycom Software from $195.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings upgraded Paycom Software from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th.

Paycom Software Stock Up 0.9%

Shares of NYSE:PAYC opened at $231.80 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.57. The firm has a market cap of $10.45 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 1.30 and a beta of 0.76. The stock’s 50-day moving average price is $164.53 and its two-hundred day moving average price is $141.35. Paycom Software has a 12-month low of $104.90 and a 12-month high of $233.46.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.40. The company had revenue of $531.20 million during the quarter, compared to the consensus estimate of $513.12 million. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.06 EPS. On average, research analysts forecast that Paycom Software will post 10.48 EPS for the current year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 24th will be issued a $0.375 dividend. The ex-dividend date is Monday, August 24th. This represents a $1.50 dividend on an annualized basis and a yield of 0.6%. Paycom Software’s dividend payout ratio (DPR) is presently 15.94%.

Institutional Investors Weigh In On Paycom Software

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp increased its holdings in Paycom Software by 4.0% during the 3rd quarter. Mackenzie Financial Corp now owns 1,624 shares of the software maker’s stock worth $338,000 after purchasing an additional 63 shares in the last quarter. Boyd Watterson Asset Management LLC OH raised its stake in shares of Paycom Software by 0.8% in the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 10,662 shares of the software maker’s stock valued at $1,699,000 after purchasing an additional 86 shares during the period. Lido Advisors LLC lifted its holdings in shares of Paycom Software by 1.4% in the fourth quarter. Lido Advisors LLC now owns 6,286 shares of the software maker’s stock valued at $1,081,000 after purchasing an additional 87 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Paycom Software by 2.2% in the fourth quarter. Janus Henderson Group PLC now owns 4,090 shares of the software maker’s stock valued at $652,000 after purchasing an additional 88 shares in the last quarter. Finally, Evoke Wealth LLC boosted its position in shares of Paycom Software by 2.8% during the fourth quarter. Evoke Wealth LLC now owns 3,335 shares of the software maker’s stock worth $531,000 after buying an additional 90 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

About Paycom Software

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.