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

Paycom Software, Inc. (NYSE:PAYC) has earned a consensus recommendation of “Hold” from the twelve brokerages that are covering the company, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $212.80.

Several equities research analysts have weighed in on PAYC shares. Piper Sandler raised their target price on shares of Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Mizuho boosted their target price on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. increased their price target on Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Barclays dropped their price target on 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. Finally, KeyCorp raised shares of Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 price objective for the company in a research report on Monday, March 10th.

Paycom Software Price Performance

Shares of NYSE PAYC opened at $215.51 on Friday. The business has a fifty day moving average price of $210.19 and a 200 day moving average price of $200.76. Paycom Software has a 1-year low of $139.50 and a 1-year high of $242.74. The stock has a market capitalization of $12.34 billion, a P/E ratio of 24.21, a price-to-earnings-growth ratio of 2.40 and a beta of 1.14.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. As a group, equities research analysts anticipate that Paycom Software will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.70%. Paycom Software’s payout ratio is currently 16.85%.

Insider Activity at Paycom Software

In other news, insider Bradley Scott Smith sold 3,000 shares of Paycom Software stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $201.01, for a total transaction of $603,030.00. Following the completion of the transaction, the insider now directly owns 28,733 shares of the company’s stock, valued at $5,775,620.33. The trade was a 9.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J C. Watts, Jr. sold 500 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $218.22, for a total transaction of $109,110.00. Following the sale, the director now directly owns 7,730 shares in the company, valued at $1,686,840.60. This trade represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,100 shares of company stock worth $1,476,024 over the last three months. Company insiders own 14.50% of the company’s stock.

Institutional Investors Weigh In On Paycom Software

Several hedge funds have recently modified their holdings of the company. FMR LLC raised its holdings in Paycom Software by 137.8% in the 4th quarter. FMR LLC now owns 2,396,452 shares of the software maker’s stock worth $491,201,000 after purchasing an additional 1,388,533 shares during the period. Sylebra Capital LLC raised its stake in shares of Paycom Software by 63.8% during the 4th quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker’s stock worth $658,996,000 after buying an additional 1,252,617 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Paycom Software by 1,153.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker’s stock valued at $82,375,000 after buying an additional 369,825 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Paycom Software in the 4th quarter valued at $63,923,000. Finally, Zurich Insurance Group Ltd FI purchased a new stake in Paycom Software in the 4th quarter worth $60,882,000. 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.