Paycom Software (NYSE:PAYC) Receives “Market Perform” Rating from William Blair

William Blair reaffirmed their market perform rating on shares of Paycom Software (NYSE:PAYC) in a research note released on Thursday morning, Zacks.com reports.

PAYC has been the subject of several other reports. StockNews.com upgraded shares of Paycom Software from a hold rating to a buy rating in a research report on Friday. UBS Group lifted their target price on shares of Paycom Software from $235.00 to $250.00 and gave the stock a buy rating in a research report on Wednesday, January 10th. Barclays cut their price target on shares of Paycom Software from $193.00 to $184.00 and set an equal weight rating for the company in a research report on Thursday. BMO Capital Markets reduced their price objective on Paycom Software from $200.00 to $190.00 and set a market perform rating on the stock in a research note on Thursday. Finally, Piper Sandler boosted 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. Sixteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $247.25.

Paycom Software Stock Up 2.7 %

Shares of NYSE PAYC opened at $171.29 on Thursday. The stock’s 50-day simple moving average is $189.34 and its two-hundred day simple moving average is $194.47. Paycom Software has a twelve month low of $146.15 and a twelve month high of $374.04. The firm has a market capitalization of $9.86 billion, a P/E ratio of 20.86, a P/E/G ratio of 2.84 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data 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. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. The company had revenue of $434.60 million for the quarter, compared to analysts’ expectations of $422.50 million. During the same period in the prior year, the business earned $1.38 earnings per share. Paycom Software’s revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, research analysts anticipate that Paycom Software will post 5.73 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th will be issued a $0.375 dividend. The ex-dividend date is Friday, May 24th. This represents a $1.50 dividend on an annualized basis and a yield of 0.88%. Paycom Software’s dividend payout ratio (DPR) is 18.27%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Mather Group LLC. bought a new stake in shares of Paycom Software in the 1st quarter worth approximately $26,000. Hexagon Capital Partners LLC grew its stake in shares of Paycom Software by 333.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock worth $27,000 after acquiring an additional 100 shares during the last quarter. Palisade Asset Management LLC bought a new position in shares of Paycom Software during the first quarter valued at $32,000. Cary Street Partners Investment Advisory LLC boosted its stake in Paycom Software by 83.5% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock worth $40,000 after purchasing an additional 71 shares in the last quarter. Finally, Transcendent Capital Group LLC bought a new stake in Paycom Software during the 4th quarter valued at about $41,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

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.