Paycom Software, Inc. (NYSE:PAYC) Given Consensus Rating of “Hold” by Brokerages

Shares of Paycom Software, Inc. (NYSE:PAYC) have been given an average recommendation of “Hold” by the eleven analysts that are presently covering the stock, MarketBeat.com reports. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $226.90.

PAYC has been the topic of several recent research reports. BMO Capital Markets boosted their price target on Paycom Software from $215.00 to $244.00 and gave the stock a “market perform” rating in a research report on Thursday, May 8th. Piper Sandler boosted their price target on Paycom Software from $224.00 to $246.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. KeyCorp boosted their price target on Paycom Software from $245.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Barclays boosted their price target on Paycom Software from $221.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 8th. Finally, Stifel Nicolaus boosted their price target on Paycom Software from $187.00 to $215.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th.

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 120,000 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $243.52, for a total value of $29,222,400.00. Following the completion of the sale, the chief executive officer directly owned 3,307,249 shares in the company, valued at approximately $805,381,276.48. The trade was a 3.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Randall Peck sold 890 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total value of $234,256.90. Following the completion of the sale, the chief operating officer owned 49,394 shares of the company’s stock, valued at $13,000,994.74. This trade represents a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 172,016 shares of company stock valued at $42,736,608 in the last three months. Corporate insiders own 10.90% of the company’s stock.

Institutional Investors Weigh In On Paycom Software

A number of institutional investors have recently made changes to their positions in the company. Sylebra Capital LLC increased its holdings in shares of Paycom Software by 63.8% in the 4th 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 increased its holdings 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 valued at $491,201,000 after acquiring an additional 1,388,533 shares during the last quarter. Baillie Gifford & Co. increased its holdings in shares of Paycom Software by 1,918.4% in the 1st quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker’s stock valued at $346,180,000 after acquiring an additional 1,505,990 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Paycom Software by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 1,516,768 shares of the software maker’s stock valued at $310,245,000 after acquiring an additional 89,848 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Paycom Software by 5.0% in the 1st quarter. Invesco Ltd. now owns 1,233,057 shares of the software maker’s stock valued at $269,398,000 after acquiring an additional 58,176 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Price Performance

NYSE PAYC opened at $223.33 on Thursday. The firm has a market capitalization of $12.92 billion, a P/E ratio of 31.86, a P/E/G ratio of 2.44 and a beta of 0.77. Paycom Software has a 1-year low of $152.45 and a 1-year high of $267.76. The business’s 50-day simple moving average is $245.35 and its 200-day simple moving average is $223.81.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.18. The business had revenue of $530.50 million for the quarter, compared to analyst estimates of $522.92 million. Paycom Software had a return on equity of 25.53% and a net margin of 20.60%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.59 EPS. On average, equities research analysts expect that Paycom Software will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Tuesday, May 27th. Paycom Software’s payout ratio is 21.40%.

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.