Paycom Software (NYSE:PAYC) Given New $285.00 Price Target at UBS Group

Paycom Software (NYSE:PAYC) had its target price cut by UBS Group from $310.00 to $285.00 in a research report released on Wednesday,Benzinga reports. They currently have a buy rating on the software maker’s stock.

Other equities research analysts also recently issued research reports about the stock. Cantor Fitzgerald raised shares of Paycom Software to a “hold” rating in a research report on Thursday, September 11th. JPMorgan Chase & Co. boosted their target price on shares of Paycom Software from $215.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. KeyCorp boosted their target price on shares of Paycom Software from $285.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. BMO Capital Markets boosted 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 report on Thursday, August 7th. Finally, Barclays boosted their target price on shares of Paycom Software from $240.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $238.58.

Paycom Software Price Performance

Shares of PAYC stock opened at $214.82 on Wednesday. Paycom Software has a 12 month low of $158.03 and a 12 month high of $267.76. The firm has a market capitalization of $12.43 billion, a P/E ratio of 29.07, a P/E/G ratio of 2.35 and a beta of 0.81. The company’s fifty day moving average price is $226.01 and its two-hundred day moving average price is $229.50.

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

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 25th were given a $0.375 dividend. The ex-dividend date was Monday, August 25th. This represents a $1.50 annualized dividend and a yield of 0.7%. Paycom Software’s payout ratio is 20.30%.

Insider Transactions at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $223.27, for a total value of $334,905.00. Following the transaction, the insider owned 24,533 shares in the company, valued at approximately $5,477,482.91. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 10.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PAYC. Baillie Gifford & Co. grew its position in Paycom Software by 1,918.4% in the first quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker’s stock worth $346,180,000 after buying an additional 1,505,990 shares during the last quarter. Sylebra Capital LLC lifted its position 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 in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Paycom Software in the 1st quarter valued at approximately $114,440,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Paycom Software in the 4th quarter valued at approximately $57,068,000. Finally, Jennison Associates LLC purchased a new stake in shares of Paycom Software in the 2nd quarter valued at approximately $49,853,000. 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.