Paycom Software (NYSE:PAYC) Price Target Raised to $286.00

by · The Markets Daily

Paycom Software (NYSE:PAYC – Free Report) had its target price hoisted by TD Cowen from $244.00 to $286.00 in a report issued on Friday morning,Benzinga reports. TD Cowen currently has a buy rating on the software maker’s stock.

A number of other equities analysts also recently issued reports on the company. Stifel Nicolaus lifted their price target on Paycom Software from $120.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, August 6th. Bank of America started coverage on Paycom Software in a research note on Tuesday, September 29th. They issued an “underperform” rating and a $200.00 price objective for the company. Wall Street Zen lowered Paycom Software from a “buy” rating to a “hold” rating in a report on Sunday, September 6th. JPMorgan Chase & Co. lifted their target price on Paycom Software from $140.00 to $264.00 and gave the company a “neutral” rating in a research report on Tuesday, August 25th. Finally, Citigroup upped their price target on Paycom Software from $136.00 to $194.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $216.93.

View Our Latest Research Report on Paycom Software

Paycom Software Trading Up 0.1%

Shares of PAYC stock traded up $0.29 during mid-day trading on Friday, hitting $221.28. The company’s stock had a trading volume of 120,664 shares, compared to its average volume of 1,219,868. The company’s fifty day simple moving average is $215.01 and its 200-day simple moving average is $161.05. Paycom Software has a 52 week low of $104.90 and a 52 week high of $244.98. 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 company has a market cap of $9.97 billion, a PE ratio of 23.52, a P/E/G ratio of 1.20 and a beta of 0.82.

Paycom Software (NYSE:PAYC – Get Free Report) last released its earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.40. The company had revenue of $531.20 million for the quarter, compared to the consensus estimate of $513.12 million. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. Paycom Software’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.06 EPS. As a group, equities research analysts expect that Paycom Software will post 10.64 earnings per share 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 issued a $0.3750 dividend. The ex-dividend date of this dividend was Monday, August 24th. This represents a $1.50 annualized dividend and a yield of 0.7%. Paycom Software’s dividend payout ratio (DPR) is 15.94%.

Insider Activity at Paycom Software

In other Paycom Software news, insider Shane Hadlock sold 2,577 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $237.60, for a total value of $612,295.20. Following the completion of the transaction, the insider owned 70,152 shares in the company, valued at $16,668,115.20. This trade represents a 3.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 13.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Paycom Software

A number of institutional investors have recently added to or reduced their stakes in PAYC. BlackRock Inc. purchased a new position in shares of Paycom Software during the 2nd quarter valued at about $632,460,000. Reinhart Partners LLC. boosted its stake in Paycom Software by 20.1% in the second quarter. Reinhart Partners LLC. now owns 1,219,906 shares of the software maker’s stock worth $153,320,000 after buying an additional 204,191 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Paycom Software by 5.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 552,470 shares of the software maker’s stock valued at $88,042,000 after acquiring an additional 27,069 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Paycom Software by 10.1% during the first quarter. Dimensional Fund Advisors LP now owns 538,376 shares of the software maker’s stock valued at $65,435,000 after acquiring an additional 49,460 shares during the last quarter. Finally, River Road Asset Management LLC raised its stake in shares of Paycom Software by 481.9% during the fourth 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.

About Paycom Software

(Get Free Report)

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.

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