Paycom Software, Inc. (NYSE:PAYC) Stock Has Consensus Price Target of $216.93 According to Brokerages

Paycom Software, Inc. (NYSE:PAYC) has earned a consensus recommendation of “Hold” from the sixteen analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $216.93.

PAYC has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Sunday, September 6th. Cantor Fitzgerald increased their target price on Paycom Software from $135.00 to $195.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Bank of America assumed coverage on Paycom Software in a report on Tuesday, September 29th. They issued an “underperform” rating and a $200.00 target price for the company. JPMorgan Chase & Co. boosted their price target on Paycom Software from $140.00 to $264.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 25th. Finally, BTIG Research boosted their price target on Paycom Software from $160.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th.

Paycom Software Stock Up 1.1%

Shares of Paycom Software stock opened at $234.74 on Friday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $10.58 billion, a PE ratio of 24.95, a price-to-earnings-growth ratio of 1.26 and a beta of 0.82. Paycom Software has a 52-week low of $104.90 and a 52-week high of $244.98. The company has a 50-day simple moving average of $222.82 and a two-hundred day simple moving average of $165.44.

Paycom Software (NYSE:PAYC) last issued its earnings results 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 for the quarter, compared to the consensus estimate of $513.12 million. During the same quarter in the prior year, the firm posted $2.06 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. On average, analysts anticipate that Paycom Software will post 10.64 EPS for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 24th were given a dividend of $0.3750 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a $1.50 annualized dividend and a dividend yield of 0.6%. Paycom Software’s dividend payout ratio (DPR) is 15.94%.

Insider Buying and Selling

In other Paycom Software news, insider Shane Hadlock sold 241 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $240.07, for a total value of $57,856.87. Following the completion of the transaction, the insider owned 69,911 shares of the company’s stock, valued at approximately $16,783,533.77. The trade was a 0.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 13.20% of the company’s stock.

Institutional Trading of Paycom Software

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Paycom Software during the 2nd quarter valued at $632,460,000. Contour Asset Management LLC purchased a new stake in shares of Paycom Software in the 4th quarter worth $60,333,000. Bank of New York Mellon Corp purchased a new stake in shares of Paycom Software in the 2nd quarter worth $42,858,000. River Road Asset Management LLC raised its holdings in 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 purchasing an additional 324,970 shares during the period. Finally, Equity Investment Corp bought a new position in Paycom Software in the 2nd quarter worth $37,085,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Company Profile

Paycom Software, Inc develops and provides cloud-based human capital management (HCM) software for businesses. Its platform is designed to help employers manage payroll and other workforce processes through a unified system, reducing the need for separate applications and manual data entry.

The company’s products and services include payroll processing, tax management, time and labor management, talent acquisition, onboarding, talent management, employee benefits administration, expense management, and workforce analytics.