Paycom Software, Inc. (NYSE:PAYC) Receives $214.23 Consensus Target Price from Brokerages

Paycom Software, Inc. (NYSE:PAYC) has been given a consensus rating of “Hold” by the fifteen research firms that are presently covering the company, Marketbeat reports. Nine investment analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $215.00.

A number of research analysts recently issued reports on the stock. KeyCorp lifted their price objective on shares of Paycom Software from $270.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday. Wall Street Zen lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Sunday, September 6th. TD Cowen increased their price objective on shares of Paycom Software from $149.00 to $244.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. BTIG Research boosted their target price on shares of Paycom Software from $160.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Citigroup increased their price target on Paycom Software from $136.00 to $194.00 and gave the company a “neutral” rating in a research note on Friday, August 7th.

Insider Transactions at Paycom Software

In other news, insider Shane Hadlock sold 2,577 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $237.60, for a total transaction of $612,295.20. Following the completion of the transaction, the insider owned 70,152 shares of the company’s stock, valued at approximately $16,668,115.20. This trade represents a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 13.20% of the company’s stock.

Institutional Trading of Paycom Software

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Paycom Software during the second quarter valued at about $632,460,000. Reinhart Partners LLC. raised its position in Paycom Software by 887.4% in the 4th quarter. Reinhart Partners LLC. now owns 598,323 shares of the software maker’s stock valued at $95,351,000 after buying an additional 537,726 shares during the last quarter. Contour Asset Management LLC bought a new position in Paycom Software during the 4th quarter valued at $60,333,000. Bank of New York Mellon Corp purchased a new position in Paycom Software during the 2nd quarter worth $42,858,000. Finally, River Road Asset Management LLC grew its stake in shares of Paycom Software by 481.9% in the 4th quarter. River Road Asset Management LLC now owns 392,403 shares of the software maker’s stock worth $62,533,000 after acquiring an additional 324,970 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Trading Down 0.1%

PAYC stock opened at $226.10 on Tuesday. Paycom Software has a one year low of $104.90 and a one year high of $244.98. The stock has a market cap of $10.19 billion, a price-to-earnings ratio of 24.03, a price-to-earnings-growth ratio of 1.26 and a beta of 0.78. The company has a fifty day moving average price of $201.25 and a two-hundred day moving average price of $155.36. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.07 and a quick ratio of 1.07.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.40. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The firm had revenue of $531.20 million during the quarter, compared to the consensus estimate of $513.12 million. During the same period last year, the business posted $2.06 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities analysts anticipate that Paycom Software will post 10.65 EPS for the current year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th were paid a $0.375 dividend. The ex-dividend date of this dividend was Monday, August 24th. This represents a $1.50 annualized dividend and a dividend yield of 0.7%. Paycom Software’s dividend payout ratio is currently 15.94%.

Paycom Software Company Profile

Paycom Software, Inc is a provider of cloud-based payroll and human capital management (HCM) software for businesses. Its platform is designed to help organizations manage employee data and payroll processes through a unified system, serving small, midsize and larger employers primarily in the United States.

The company’s products and services include payroll processing, tax management, time and labor management, talent acquisition, onboarding, employee learning, performance management, compensation planning, benefits administration, expense management and compliance tools.