Paycom Software (NYSE:PAYC) Earns Neutral Rating from Analysts at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of Paycom Software (NYSE:PAYC) in a report published on Thursday, Marketbeat.com reports. The brokerage issued a neutral rating and a $230.00 target price on the software maker’s stock.

PAYC has been the topic of a number of other reports. Barclays raised their price target on shares of Paycom Software from $240.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, August 7th. KeyCorp raised their target price on shares of Paycom Software from $285.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Piper Sandler raised their target price on shares of Paycom Software from $224.00 to $246.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. raised their target price on shares of Paycom Software from $215.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Finally, BMO Capital Markets raised their target price 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, August 7th. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Paycom Software presently has an average rating of “Hold” and a consensus target price of $234.36.

Paycom Software Trading Up 0.4%

Shares of Paycom Software stock opened at $216.96 on Thursday. The firm has a market capitalization of $12.56 billion, a PE ratio of 29.36, a P/E/G ratio of 2.37 and a beta of 0.81. Paycom Software has a twelve month low of $153.08 and a twelve month high of $267.76. The firm’s 50-day moving average price is $231.83 and its 200 day moving average price is $227.45.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results 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 firm had revenue of $483.60 million for 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%. Paycom Software’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period last year, the company posted $1.62 EPS. On average, sell-side analysts predict that Paycom Software will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 25th will be issued a dividend of $0.375 per share. The ex-dividend date is Monday, August 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. Paycom Software’s dividend payout ratio (DPR) is currently 20.30%.

Insider Transactions at Paycom Software

In other news, CEO Chad R. Richison sold 23,200 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $265.20, for a total transaction of $6,152,640.00. Following the completion of the sale, the chief executive officer owned 3,224,049 shares in the company, valued at $855,017,794.80. This trade represents a 0.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Randall Peck sold 890 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total transaction of $234,256.90. Following the sale, the chief operating officer owned 49,394 shares of the company’s stock, valued at $13,000,994.74. This represents a 1.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,590 shares of company stock worth $6,761,837 in the last 90 days. Insiders own 10.90% of the company’s stock.

Institutional Trading of Paycom Software

Several institutional investors have recently added to or reduced their stakes in PAYC. von Borstel & Associates Inc. acquired a new stake in Paycom Software in the 1st quarter valued at approximately $27,000. SouthState Corp acquired a new position in shares of Paycom Software in the first quarter worth $27,000. Golden State Wealth Management LLC grew its stake in shares of Paycom Software by 112.3% in the first quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker’s stock worth $30,000 after acquiring an additional 73 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Paycom Software by 135.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker’s stock worth $33,000 after acquiring an additional 87 shares in the last quarter. Finally, MUFG Securities EMEA plc acquired a new position in shares of Paycom Software in the second quarter worth $33,000. 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.