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

Paycom Software, Inc. (NYSE:PAYC) has been assigned an average recommendation of “Hold” from the nineteen brokerages that are presently covering the company, MarketBeat.com reports. Sixteen investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $257.18.

Several research analysts have recently weighed in on the stock. UBS Group upped their price target on shares of Paycom Software from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. BTIG Research assumed coverage on Paycom Software in a research note on Tuesday, February 6th. They issued a “neutral” rating on the stock. Citigroup reduced their target price on Paycom Software from $205.00 to $198.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 31st. Piper Sandler increased their target price on Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Finally, JPMorgan Chase & Co. increased their target price on Paycom Software from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PAYC. National Bank of Canada FI lifted its stake in shares of Paycom Software by 29.3% during the 3rd quarter. National Bank of Canada FI now owns 10,590 shares of the software maker’s stock valued at $2,754,000 after buying an additional 2,401 shares in the last quarter. Vontobel Holding Ltd. lifted its position in shares of Paycom Software by 10.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 4,016 shares of the software maker’s stock worth $1,041,000 after purchasing an additional 380 shares during the period. CWM LLC lifted its position in shares of Paycom Software by 34.5% in the 3rd quarter. CWM LLC now owns 1,048 shares of the software maker’s stock worth $272,000 after purchasing an additional 269 shares during the period. AE Wealth Management LLC lifted its position in shares of Paycom Software by 12.7% in the 3rd quarter. AE Wealth Management LLC now owns 1,704 shares of the software maker’s stock worth $442,000 after purchasing an additional 192 shares during the period. Finally, DnB Asset Management AS lifted its position in shares of Paycom Software by 8.8% in the 3rd quarter. DnB Asset Management AS now owns 12,189 shares of the software maker’s stock worth $3,160,000 after purchasing an additional 990 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Price Performance

NYSE:PAYC opened at $186.72 on Tuesday. The company has a market cap of $10.75 billion, a P/E ratio of 31.65, a P/E/G ratio of 3.13 and a beta of 1.17. The stock’s fifty day moving average price is $190.02 and its two-hundred day moving average price is $198.94. Paycom Software has a 1 year low of $146.15 and a 1 year high of $374.04.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.15. The firm had revenue of $434.60 million for the quarter, compared to analysts’ expectations of $422.50 million. Paycom Software had a net margin of 20.12% and a return on equity of 24.60%. The business’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.38 earnings per share. On average, analysts expect that Paycom Software will post 5.73 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend was Friday, March 1st. Paycom Software’s dividend payout ratio (DPR) is presently 25.42%.

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.