JPMorgan Chase & Co. Cuts Paycom Software (NYSE:PAYC) Price Target to $220.00

Paycom Software (NYSE:PAYC) had its price target reduced by JPMorgan Chase & Co. from $235.00 to $220.00 in a research report report published on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the software maker’s stock.

A number of other brokerages also recently issued reports on PAYC. Guggenheim began coverage on Paycom Software in a research report on Friday, September 26th. They set a “buy” rating and a $270.00 price target on the stock. BMO Capital Markets increased 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. Weiss Ratings restated a “hold (c)” rating on shares of Paycom Software in a research report on Wednesday, October 8th. Jefferies Financial Group cut their price objective on shares of Paycom Software from $225.00 to $190.00 and set a “hold” rating for the company in a research report on Thursday. Finally, Mizuho decreased their target price on shares of Paycom Software from $220.00 to $180.00 and set a “neutral” rating on the stock in a report on Thursday. Four research 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, Paycom Software currently has a consensus rating of “Hold” and an average target price of $225.77.

Paycom Software Stock Performance

NYSE:PAYC opened at $162.44 on Thursday. Paycom Software has a 52 week low of $156.50 and a 52 week high of $267.76. The firm has a market cap of $9.40 billion, a price-to-earnings ratio of 20.20, a P/E/G ratio of 1.79 and a beta of 0.88. The firm’s 50-day simple moving average is $205.86 and its 200 day simple moving average is $226.28.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, November 5th. The software maker reported $1.94 earnings per share (EPS) 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 24.79%. The business had revenue of $493.30 million during the quarter, compared to the consensus estimate of $492.62 million. During the same period in the prior year, the firm earned $1.67 EPS. The business’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. Sell-side analysts anticipate that Paycom Software will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Monday, November 24th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, November 24th. This represents a $1.50 annualized dividend and a yield of 0.9%. Paycom Software’s payout ratio is presently 18.66%.

Insider Buying and Selling at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $223.27, for a total transaction of $334,905.00. Following the sale, the insider directly owned 24,533 shares of the company’s stock, valued at approximately $5,477,482.91. The trade was a 5.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 10.90% of the company’s stock.

Institutional Trading of Paycom Software

A number of hedge funds have recently added to or reduced their stakes in the stock. Kingsview Wealth Management LLC raised its stake in Paycom Software by 8.4% during the 1st quarter. Kingsview Wealth Management LLC now owns 1,478 shares of the software maker’s stock worth $323,000 after buying an additional 114 shares during the period. Ethic Inc. purchased a new position in Paycom Software during the 2nd quarter worth $566,000. Hussman Strategic Advisors Inc. purchased a new position in Paycom Software during the second quarter worth about $2,916,000. Nisa Investment Advisors LLC grew its holdings in shares of Paycom Software by 88.1% in the second quarter. Nisa Investment Advisors LLC now owns 14,658 shares of the software maker’s stock valued at $3,392,000 after acquiring an additional 6,866 shares in the last quarter. Finally, Jennison Associates LLC bought a new position in Paycom Software in the 2nd quarter valued at $49,853,000. Institutional investors and hedge funds 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.