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

Paycom Software, Inc. (NYSE:PAYC) has been given an average rating of “Hold” by the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $234.80.

A number of research firms recently issued reports on PAYC. Barclays boosted their target price on shares of Paycom Software from $240.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Paycom Software from $215.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday. Stifel Nicolaus boosted their price objective on shares of Paycom Software from $187.00 to $215.00 and gave the stock a “hold” rating in a research note on Thursday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, May 8th. Finally, BMO Capital Markets boosted their price objective on shares of Paycom Software from $244.00 to $258.00 and gave the stock a “market perform” rating in a research note on Thursday.

Paycom Software Price Performance

NYSE:PAYC opened at $229.29 on Monday. The firm has a 50 day simple moving average of $236.39 and a 200-day simple moving average of $227.30. The firm has a market cap of $13.26 billion, a PE ratio of 31.03, a P/E/G ratio of 2.60 and a beta of 0.81. Paycom Software has a 1-year low of $152.46 and a 1-year high of $267.76.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.28. The business had revenue of $483.60 million during the quarter, compared to analyst estimates of $472.00 million. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The company’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.62 earnings per share. As a group, sell-side analysts expect that Paycom Software will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 25th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Monday, August 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.7%. Paycom Software’s payout ratio is currently 20.30%.

Insiders Place Their Bets

In other Paycom Software news, COO Randall Peck sold 890 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer directly owned 49,394 shares in the company, valued at $13,000,994.74. This trade represents a 1.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Chad R. Richison sold 23,200 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $265.20, for a total transaction of $6,152,640.00. Following the completion of the transaction, the chief executive officer owned 3,224,049 shares of the company’s stock, valued at approximately $855,017,794.80. The trade was a 0.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,590 shares of company stock worth $6,761,837 over the last ninety days. 10.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PAYC. Brooklyn Investment Group lifted its stake in Paycom Software by 19.4% in the first quarter. Brooklyn Investment Group now owns 240 shares of the software maker’s stock valued at $52,000 after acquiring an additional 39 shares during the last quarter. Commerce Bank lifted its stake in Paycom Software by 2.2% in the first quarter. Commerce Bank now owns 2,351 shares of the software maker’s stock valued at $514,000 after acquiring an additional 50 shares during the last quarter. Allworth Financial LP lifted its stake in Paycom Software by 12.9% in the first quarter. Allworth Financial LP now owns 464 shares of the software maker’s stock valued at $105,000 after acquiring an additional 53 shares during the last quarter. US Bancorp DE lifted its stake in Paycom Software by 0.5% in the first quarter. US Bancorp DE now owns 10,421 shares of the software maker’s stock valued at $2,277,000 after acquiring an additional 57 shares during the last quarter. Finally, Salvus Wealth Management LLC lifted its stake in Paycom Software by 4.9% in the first quarter. Salvus Wealth Management LLC now owns 1,238 shares of the software maker’s stock valued at $270,000 after acquiring an additional 58 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

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.