Barclays Cuts Paycom Software (NYSE:PAYC) Price Target to $185.00

Paycom Software (NYSE:PAYC) had its target price cut by Barclays from $210.00 to $185.00 in a report released on Monday,Benzinga reports. They currently have an equal weight rating on the software maker’s stock.

Several other equities research analysts have also issued reports on the company. Jefferies Financial Group reduced their price target on Paycom Software from $225.00 to $190.00 and set a “hold” rating for the company in a report on Thursday, November 6th. Guggenheim assumed coverage on shares of Paycom Software in a research note on Friday, September 26th. They issued a “buy” rating and a $270.00 target price for the company. Zacks Research upgraded shares of Paycom Software from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 20th. TD Cowen reduced their price objective on shares of Paycom Software from $200.00 to $184.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Finally, Citigroup decreased their price objective on shares of Paycom Software from $191.00 to $185.00 and set a “neutral” rating for the company in a report on Tuesday, December 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $218.07.

Paycom Software Stock Down 1.9%

Shares of NYSE:PAYC opened at $154.51 on Monday. The firm has a fifty day moving average of $161.77 and a two-hundred day moving average of $198.14. Paycom Software has a 12-month low of $151.74 and a 12-month high of $267.76. The firm has a market capitalization of $8.69 billion, a P/E ratio of 19.22, a price-to-earnings-growth ratio of 1.61 and a beta of 0.82.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, November 5th. The software maker reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.02). The company had revenue of $493.30 million during the quarter, compared to analyst estimates of $492.62 million. Paycom Software had a return on equity of 24.79% and a net margin of 22.65%.The company’s revenue was up 9.2% compared to the same quarter last year. During the same period last year, the company posted $1.67 earnings per share. Equities research analysts expect that Paycom Software will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 8th. Stockholders of record on Monday, November 24th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, November 24th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.0%. Paycom Software’s dividend payout ratio is currently 18.66%.

Insiders Place Their Bets

In related news, CFO Robert D. Foster sold 1,300 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $162.66, for a total transaction of $211,458.00. Following the transaction, the chief financial officer directly owned 14,747 shares in the company, valued at $2,398,747.02. The trade was a 8.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 10.90% of the stock is currently owned by company insiders.

Institutional Trading of Paycom Software

Institutional investors and hedge funds have recently modified their holdings of the company. True Wealth Design LLC lifted its position in Paycom Software by 946.7% in the fourth quarter. True Wealth Design LLC now owns 157 shares of the software maker’s stock worth $25,000 after purchasing an additional 142 shares during the period. Caitlin John LLC acquired a new position in shares of Paycom Software in the 3rd quarter valued at $29,000. CYBER HORNET ETFs LLC bought a new position in shares of Paycom Software during the 2nd quarter worth about $29,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Paycom Software during the 3rd quarter valued at about $31,000. Finally, MUFG Securities EMEA plc bought a new stake in Paycom Software in the second quarter valued at about $33,000. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Company Profile

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.