Paycom Software (NYSE:PAYC) Price Target Raised to $175.00

Paycom Software (NYSE:PAYC) had its price objective hoisted by JPMorgan Chase & Co. from $165.00 to $175.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the software maker’s stock.

Several other equities research analysts have also issued reports on the stock. Citigroup lowered their target price on shares of Paycom Software from $205.00 to $198.00 and set a neutral rating on the stock in a research note on Wednesday, January 31st. Jefferies Financial Group reiterated a hold rating and set a $195.00 price objective on shares of Paycom Software in a research note on Friday, January 5th. BTIG Research started coverage on shares of Paycom Software in a research report on Tuesday, February 6th. They set a neutral rating on the stock. Needham & Company LLC reiterated a hold rating on shares of Paycom Software in a report on Thursday. Finally, Piper Sandler increased their price objective on Paycom Software from $185.00 to $190.00 and gave the stock a neutral rating in a research report on Thursday, February 8th. Sixteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $246.31.

Paycom Software Stock Up 1.0 %

NYSE PAYC traded up $1.69 during trading hours on Thursday, hitting $172.98. 254,365 shares of the company were exchanged, compared to its average volume of 864,829. The stock has a market cap of $10.05 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17. The stock has a 50-day moving average price of $189.34 and a 200 day moving average price of $193.38. Paycom Software has a 52 week low of $146.15 and a 52 week high of $374.04.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. The company had revenue of $434.60 million during the quarter, compared to analyst estimates of $422.50 million. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. Paycom Software’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.38 earnings per share. As a group, sell-side analysts anticipate that Paycom Software will post 5.82 earnings per share for the current year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Tuesday, May 28th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.87%. The ex-dividend date is Friday, May 24th. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

Institutional Trading of Paycom Software

Several institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC lifted its holdings in shares of Paycom Software by 17.2% in the third quarter. Commonwealth Equity Services LLC now owns 27,629 shares of the software maker’s stock valued at $7,164,000 after buying an additional 4,046 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Paycom Software by 12.0% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 13,951 shares of the software maker’s stock valued at $3,617,000 after purchasing an additional 1,500 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Paycom Software by 31.9% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 24,319 shares of the software maker’s stock worth $6,305,000 after purchasing an additional 5,888 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Paycom Software by 18.4% in the 3rd quarter. Raymond James & Associates now owns 12,450 shares of the software maker’s stock valued at $3,228,000 after purchasing an additional 1,935 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in Paycom Software by 19.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 27,862 shares of the software maker’s stock valued at $7,224,000 after purchasing an additional 4,495 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

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.