Paycom Software, Inc. (NYSE:PAYC) Receives Consensus Recommendation of “Hold” from Brokerages

Paycom Software, Inc. (NYSE:PAYC) has earned a consensus recommendation of “Hold” from the twelve analysts that are presently covering the firm, Marketbeat reports. Eleven research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $212.80.

Several research analysts have recently weighed in on PAYC shares. TD Cowen upped their price target on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Barclays lowered their price target on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Citigroup dropped their price target on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. KeyCorp upgraded shares of Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 price objective on the stock in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th.

Insider Buying and Selling

In other news, Director J C. Watts, Jr. sold 500 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $218.22, for a total transaction of $109,110.00. Following the completion of the sale, the director now owns 7,730 shares of the company’s stock, valued at approximately $1,686,840.60. This represents a 6.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Bradley Scott Smith sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $201.01, for a total transaction of $603,030.00. Following the completion of the transaction, the insider now owns 28,733 shares in the company, valued at $5,775,620.33. This represents a 9.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,100 shares of company stock worth $1,476,024 in the last 90 days. 14.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Paycom Software

Institutional investors have recently added to or reduced their stakes in the company. Sylebra Capital LLC raised its stake in shares of Paycom Software by 63.8% during the fourth quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker’s stock valued at $658,996,000 after acquiring an additional 1,252,617 shares during the last quarter. FMR LLC grew its position in shares of Paycom Software by 137.8% in the 4th quarter. FMR LLC now owns 2,396,452 shares of the software maker’s stock worth $491,201,000 after buying an additional 1,388,533 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Paycom Software by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 1,516,768 shares of the software maker’s stock valued at $310,245,000 after buying an additional 89,848 shares during the period. Northern Trust Corp lifted its stake in Paycom Software by 10.9% in the fourth quarter. Northern Trust Corp now owns 724,016 shares of the software maker’s stock worth $148,402,000 after acquiring an additional 70,897 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Paycom Software by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 498,073 shares of the software maker’s stock valued at $102,090,000 after acquiring an additional 11,611 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Down 1.1 %

Shares of NYSE PAYC opened at $195.90 on Tuesday. The company has a market cap of $11.22 billion, a P/E ratio of 22.01, a P/E/G ratio of 2.40 and a beta of 0.97. Paycom Software has a 52 week low of $139.50 and a 52 week high of $242.74. The business has a 50-day simple moving average of $212.58 and a two-hundred day simple moving average of $205.59.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. Equities research analysts anticipate that Paycom Software will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.77%. The ex-dividend date was Monday, March 10th. Paycom Software’s dividend payout ratio is currently 16.85%.

Paycom Software Company Profile

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.