Paycom Software (NYSE:PAYC) Downgraded to “Market Perform” at William Blair

William Blair lowered shares of Paycom Software (NYSE:PAYC) from an outperform rating to a market perform rating in a report released on Wednesday, Marketbeat reports.

A number of other equities research analysts also recently issued reports on the stock. Citigroup downgraded shares of Paycom Software from a buy rating to a neutral rating and lowered their target price for the company from $360.00 to $189.00 in a report on Wednesday. Needham & Company LLC reissued a hold rating on shares of Paycom Software in a research report on Wednesday. KeyCorp cut shares of Paycom Software from an overweight rating to a sector weight rating in a report on Wednesday. Piper Sandler cut shares of Paycom Software from an overweight rating to a neutral rating and dropped their target price for the stock from $399.00 to $185.00 in a report on Wednesday. Finally, BMO Capital Markets increased their target price on shares of Paycom Software from $340.00 to $356.00 and gave the stock a market perform rating in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $275.50.

Paycom Software Stock Down 2.2 %

Shares of NYSE:PAYC opened at $159.02 on Wednesday. The company has a market cap of $9.62 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 1.32 and a beta of 1.40. The firm’s 50-day simple moving average is $263.61 and its 200-day simple moving average is $291.31. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.02. Paycom Software has a fifty-two week low of $146.15 and a fifty-two week high of $374.04.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Tuesday, October 31st. The software maker reported $1.77 EPS for the quarter, beating the consensus estimate of $1.61 by $0.16. The firm had revenue of $406.30 million during the quarter, compared to analysts’ expectations of $411.17 million. Paycom Software had a net margin of 20.80% and a return on equity of 25.02%. The business’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.92 earnings per share. As a group, equities research analysts predict that Paycom Software will post 6.09 earnings per share for the current year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Monday, November 27th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, November 24th. Paycom Software’s dividend payout ratio (DPR) is 25.64%.

Insider Buying and Selling

In related news, EVP Christopher Gene Thomas sold 320 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $290.05, for a total value of $92,816.00. Following the transaction, the executive vice president now owns 26,154 shares in the company, valued at $7,585,967.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Paycom Software news, EVP Christopher Gene Thomas sold 320 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $290.05, for a total transaction of $92,816.00. Following the transaction, the executive vice president now owns 26,154 shares in the company, valued at $7,585,967.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jason D. Clark sold 130 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $287.36, for a total transaction of $37,356.80. Following the completion of the sale, the director now owns 4,970 shares in the company, valued at approximately $1,428,179.20. The disclosure for this sale can be found here. 14.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ridgewood Investments LLC bought a new position in shares of Paycom Software during the first quarter valued at $26,000. HHM Wealth Advisors LLC increased its stake in shares of Paycom Software by 350.0% in the first quarter. HHM Wealth Advisors LLC now owns 90 shares of the software maker’s stock valued at $27,000 after buying an additional 70 shares in the last quarter. Fairfield Bush & CO. bought a new stake in Paycom Software during the 2nd quarter worth about $27,000. KB Financial Partners LLC bought a new stake in Paycom Software during the 1st quarter worth about $28,000. Finally, Clear Street Markets LLC increased its stake in shares of Paycom Software by 98.0% in the 1st quarter. Clear Street Markets LLC now owns 97 shares of the software maker’s stock valued at $29,000 after acquiring an additional 48 shares during the last quarter. 88.69% of the stock is owned by institutional investors.

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.