Analysts Set Paycom Software, Inc. (NYSE:PAYC) PT at $226.90

Shares of Paycom Software, Inc. (NYSE:PAYC) have received an average recommendation of “Hold” from the eleven ratings firms that are currently covering the company, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $226.90.

A number of research analysts have recently weighed in on PAYC shares. Piper Sandler lifted their price objective on Paycom Software from $224.00 to $246.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, May 8th. Stifel Nicolaus lifted their price objective on Paycom Software from $187.00 to $215.00 and gave the company a “hold” rating in a research report on Thursday, May 8th. KeyCorp lifted their target price on Paycom Software from $245.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Finally, Wall Street Zen downgraded Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 120,000 shares of Paycom Software stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $243.52, for a total value of $29,222,400.00. Following the sale, the chief executive officer now owns 3,307,249 shares of the company’s stock, valued at $805,381,276.48. The trade was a 3.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of Paycom Software stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $201.01, for a total value of $603,030.00. Following the completion of the sale, the insider now directly owns 28,733 shares in the company, valued at approximately $5,775,620.33. The trade was a 9.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 149,426 shares of company stock valued at $36,577,802 in the last quarter. 10.90% of the stock is currently owned by insiders.

Institutional Trading of Paycom Software

Large investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group raised its holdings in Paycom Software by 19.4% during the 1st quarter. Brooklyn Investment Group now owns 240 shares of the software maker’s stock valued at $52,000 after buying an additional 39 shares during the period. Private Trust Co. NA increased its position in Paycom Software by 9.3% during the fourth quarter. Private Trust Co. NA now owns 575 shares of the software maker’s stock valued at $118,000 after acquiring an additional 49 shares during the last quarter. Commerce Bank increased its position in Paycom Software by 2.2% during the first quarter. Commerce Bank now owns 2,351 shares of the software maker’s stock valued at $514,000 after acquiring an additional 50 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in Paycom Software by 1.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker’s stock valued at $602,000 after acquiring an additional 51 shares during the last quarter. Finally, Allworth Financial LP increased its position in Paycom Software by 12.9% during the first quarter. Allworth Financial LP now owns 464 shares of the software maker’s stock valued at $105,000 after acquiring an additional 53 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Up 1.3%

PAYC stock opened at $259.13 on Wednesday. Paycom Software has a twelve month low of $139.50 and a twelve month high of $262.80. The stock has a market cap of $14.99 billion, a P/E ratio of 29.12, a PEG ratio of 2.40 and a beta of 0.80. The business’s 50-day moving average price is $231.35 and its 200-day moving average price is $220.74.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The firm had revenue of $530.50 million for the quarter, compared to analysts’ expectations of $522.92 million. During the same period in the previous year, the firm earned $2.59 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities research analysts expect that Paycom Software will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Tuesday, May 27th. Paycom Software’s payout ratio is 21.40%.

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.