Paycom Software (NYSE:PAYC) Price Target Raised to $224.00 at Piper Sandler

Paycom Software (NYSE:PAYC) had its target price increased by Piper Sandler from $191.00 to $224.00 in a report published on Friday morning,Benzinga reports. They currently have a neutral rating on the software maker’s stock.

PAYC has been the topic of several other reports. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research note on Thursday. TD Cowen boosted their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. boosted their price objective on shares of Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday. Stifel Nicolaus lowered their price objective on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a research note on Thursday. Finally, Barclays lowered their price objective on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $209.22.

Paycom Software Trading Down 1.1 %

Shares of PAYC stock opened at $209.72 on Friday. Paycom Software has a 1 year low of $139.50 and a 1 year high of $242.74. The firm’s fifty day moving average price is $210.84 and its two-hundred day moving average price is $191.52. The firm has a market capitalization of $12.09 billion, a P/E ratio of 25.24, a PEG ratio of 2.81 and a beta of 1.15.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.03. Paycom Software had a net margin of 25.78% and a return on equity of 32.90%. As a group, equities research analysts forecast that Paycom Software will post 6.88 EPS for the current fiscal year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Monday, March 10th. Paycom Software’s payout ratio is 18.05%.

Institutional Trading of Paycom Software

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its holdings in shares of Paycom Software by 51.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker’s stock worth $444,000 after buying an additional 905 shares during the period. JPMorgan Chase & Co. boosted its holdings in Paycom Software by 14.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock valued at $54,305,000 after purchasing an additional 41,187 shares during the period. Principal Financial Group Inc. boosted its holdings in Paycom Software by 9.3% in the 3rd quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock valued at $10,962,000 after purchasing an additional 5,574 shares during the period. FMR LLC boosted its holdings in Paycom Software by 55.0% in the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock valued at $167,889,000 after purchasing an additional 357,723 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in Paycom Software by 3.5% in the 4th quarter. Nordea Investment Management AB now owns 204,377 shares of the software maker’s stock valued at $41,952,000 after purchasing an additional 6,916 shares during the period. Institutional investors own 87.77% of the company’s stock.

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.