BMO Capital Markets Trims Paycom Software (NYSE:PAYC) Target Price to $190.00

Paycom Software (NYSE:PAYC) had its price target lowered by BMO Capital Markets from $200.00 to $190.00 in a research note issued to investors on Thursday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the software maker’s stock.

Several other research firms have also recently commented on PAYC. Jefferies Financial Group restated a hold rating and issued a $195.00 target price on shares of Paycom Software in a research report on Friday, January 5th. Needham & Company LLC restated a hold rating on shares of Paycom Software in a research report on Thursday. JPMorgan Chase & Co. raised their target price on Paycom Software from $140.00 to $165.00 and gave the company a neutral rating in a research report on Thursday, February 8th. UBS Group raised their target price on Paycom Software from $235.00 to $250.00 and gave the company a buy rating in a research report on Wednesday, January 10th. Finally, Citigroup lowered their price target on Paycom Software from $205.00 to $198.00 and set a neutral rating on the stock in a research report on Wednesday, January 31st. Sixteen analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $246.31.

Paycom Software Stock Up 1.0 %

NYSE:PAYC traded up $1.69 during trading hours on Thursday, reaching $172.98. 254,365 shares of the stock were exchanged, compared to its average volume of 864,829. The firm has a 50 day simple moving average of $189.34 and a 200-day simple moving average of $193.38. Paycom Software has a 52 week low of $146.15 and a 52 week high of $374.04. The stock has a market capitalization of $10.05 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 released its earnings results on Wednesday, February 7th. The software maker reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. The company had revenue of $434.60 million for the quarter, compared to the consensus estimate of $422.50 million. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. Paycom Software’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.38 EPS. As a group, analysts expect that Paycom Software will post 5.82 earnings per share for the current year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Friday, May 24th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.87%. Paycom Software’s payout ratio is presently 18.27%.

Institutional Investors Weigh In On Paycom Software

A number of institutional investors have recently added to or reduced their stakes in PAYC. Mather Group LLC. acquired a new stake in Paycom Software during the first quarter worth about $26,000. Hexagon Capital Partners LLC boosted its holdings in Paycom Software by 333.3% during the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock valued at $27,000 after purchasing an additional 100 shares in the last quarter. Palisade Asset Management LLC acquired a new stake in Paycom Software during the first quarter valued at approximately $32,000. Cary Street Partners Investment Advisory LLC boosted its holdings in Paycom Software by 83.5% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock valued at $40,000 after purchasing an additional 71 shares in the last quarter. Finally, Transcendent Capital Group LLC acquired a new stake in Paycom Software during the fourth quarter valued at approximately $41,000. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Company Profile

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.