Paycom Software (NYSE:PAYC) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Paycom Software (NYSE:PAYC) from a hold rating to a buy rating in a report released on Friday.

A number of other analysts have also recently issued reports on the stock. BMO Capital Markets reduced their price objective on shares of Paycom Software from $200.00 to $190.00 and set a market perform rating for the company in a research note on Thursday. Jefferies Financial Group reiterated a hold rating and issued a $195.00 price target on shares of Paycom Software in a research note on Friday, January 5th. Citigroup lowered their price objective on Paycom Software from $196.00 to $193.00 and set a neutral rating on the stock in a research report on Thursday. BTIG Research started coverage on Paycom Software in a research note on Tuesday, February 6th. They issued a neutral rating for the company. Finally, Barclays dropped their price objective on shares of Paycom Software from $193.00 to $184.00 and set an equal weight rating for the company in a report on Thursday. Sixteen analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $247.25.

Paycom Software Stock Up 2.7 %

NYSE:PAYC traded up $4.57 during mid-day trading on Friday, hitting $171.29. 1,207,026 shares of the company traded hands, compared to its average volume of 838,850. The stock’s fifty day moving average price is $189.34 and its 200-day moving average price is $194.47. The firm has a market cap of $9.86 billion, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17. Paycom Software has a one year low of $146.15 and a one year high of $374.04.

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, beating analysts’ consensus estimates 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 return on equity of 32.84% and a net margin of 26.91%. The business’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.38 EPS. Equities analysts predict that Paycom Software will post 5.73 EPS for the current year.

Paycom Software Announces Dividend

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

Institutional Trading of Paycom Software

Several institutional investors have recently added to or reduced their stakes in the company. Oak Family Advisors LLC bought a new stake in shares of Paycom Software during the 4th quarter worth approximately $2,994,000. Nordea Investment Management AB grew its holdings in shares of Paycom Software by 8.8% in the third quarter. Nordea Investment Management AB now owns 261,428 shares of the software maker’s stock worth $68,912,000 after purchasing an additional 21,095 shares during the last quarter. Kornitzer Capital Management Inc. KS purchased a new position in Paycom Software in the 4th quarter worth about $6,615,000. US Bancorp DE lifted its holdings in Paycom Software by 25.8% during the 3rd quarter. US Bancorp DE now owns 91,950 shares of the software maker’s stock valued at $23,840,000 after buying an additional 18,857 shares in the last quarter. Finally, Lecap Asset Management Ltd. purchased a new stake in Paycom Software in the 4th quarter valued at about $2,028,000. 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.