Paycom Software (NYSE:PAYC) PT Lowered to $184.00

Paycom Software (NYSE:PAYC) had its target price trimmed by Barclays from $193.00 to $184.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has an equal weight rating on the software maker’s stock.

Several other equities research analysts have also issued reports on the stock. Needham & Company LLC reiterated a hold rating on shares of Paycom Software in a research note on Thursday. JPMorgan Chase & Co. upped their target price on Paycom Software from $165.00 to $175.00 and gave the stock a neutral rating in a report on Thursday. Jefferies Financial Group restated a hold rating and issued a $195.00 price target on shares of Paycom Software in a research note on Friday, January 5th. BTIG Research started coverage on Paycom Software in a report on Tuesday, February 6th. They issued a neutral rating for the company. Finally, BMO Capital Markets lowered their target price on shares of Paycom Software from $200.00 to $190.00 and set a market perform rating on the stock in a report on Thursday. Sixteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Paycom Software currently has an average rating of Hold and a consensus price target of $247.25.

Paycom Software Trading Up 2.7 %

Shares of PAYC stock traded up $4.57 on Thursday, hitting $171.29. 1,207,026 shares of the stock were exchanged, compared to its average volume of 838,850. The firm has a market capitalization of $9.86 billion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17. Paycom Software has a fifty-two week low of $146.15 and a fifty-two week high of $374.04. The business has a 50-day moving average of $189.34 and a 200 day moving average of $194.47.

Paycom Software (NYSE:PAYC) last released its quarterly 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. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. The firm had revenue of $434.60 million during the quarter, compared to the consensus estimate of $422.50 million. During the same quarter in the prior year, the firm posted $1.38 EPS. The business’s revenue was up 17.3% on a year-over-year basis. As a group, research analysts forecast that Paycom Software will post 5.73 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, May 24th. Paycom Software’s dividend payout ratio is currently 18.27%.

Institutional Trading of Paycom Software

Several hedge funds and other institutional investors have recently bought and sold shares of PAYC. Vanguard Group Inc. increased its holdings in shares of Paycom Software by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 5,936,910 shares of the software maker’s stock worth $1,227,278,000 after purchasing an additional 137,583 shares during the period. American Century Companies Inc. raised its holdings in Paycom Software by 18.8% in the 3rd quarter. American Century Companies Inc. now owns 1,139,511 shares of the software maker’s stock valued at $295,441,000 after acquiring an additional 180,202 shares in the last quarter. Brown Capital Management LLC lifted its position in shares of Paycom Software by 10.1% during the 4th quarter. Brown Capital Management LLC now owns 1,106,045 shares of the software maker’s stock valued at $228,642,000 after acquiring an additional 101,744 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in shares of Paycom Software by 7.9% during the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 977,055 shares of the software maker’s stock worth $182,426,000 after purchasing an additional 71,272 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Paycom Software by 16,173.6% in the fourth quarter. International Assets Investment Management LLC now owns 787,803 shares of the software maker’s stock worth $162,855,000 after purchasing an additional 782,962 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

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.