Paycom Software (NYSE:PAYC) Price Target Cut to $225.00 by Analysts at Jefferies Financial Group

Paycom Software (NYSE:PAYC) had its price target trimmed by Jefferies Financial Group from $250.00 to $225.00 in a report published on Monday,Benzinga reports. The firm currently has a hold rating on the software maker’s stock.

Several other analysts also recently weighed in on PAYC. Guggenheim initiated coverage on Paycom Software in a research note on Friday, September 26th. They set a “buy” rating and a $270.00 target price for the company. Weiss Ratings restated a “hold (c)” rating on shares of Paycom Software in a research note on Wednesday, October 8th. JPMorgan Chase & Co. increased their target price on Paycom Software from $215.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Cantor Fitzgerald upgraded Paycom Software to a “hold” rating in a research note on Thursday, September 11th. Finally, BMO Capital Markets increased their target price on Paycom Software from $244.00 to $258.00 and gave the company a “market perform” rating in a research note on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $245.62.

Paycom Software Stock Performance

PAYC opened at $201.49 on Monday. The company has a market cap of $11.66 billion, a PE ratio of 27.27, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. The stock has a 50-day moving average of $218.42 and a 200-day moving average of $228.90. Paycom Software has a 52-week low of $161.24 and a 52-week high of $267.76.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.28. The company had revenue of $483.60 million during the quarter, compared to the consensus estimate of $472.00 million. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The firm’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.62 EPS. On average, research analysts predict that Paycom Software will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.7%. Paycom Software’s dividend payout ratio (DPR) is currently 20.30%.

Insider Activity at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $223.27, for a total value of $334,905.00. Following the completion of the sale, the insider owned 24,533 shares in the company, valued at approximately $5,477,482.91. This trade represents a 5.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 10.90% of the company’s stock.

Institutional Trading of Paycom Software

Hedge funds have recently modified their holdings of the company. Brooklyn Investment Group grew its holdings in Paycom Software by 19.4% during the 1st quarter. Brooklyn Investment Group now owns 240 shares of the software maker’s stock worth $52,000 after acquiring an additional 39 shares during the period. Commerce Bank grew its holdings in Paycom Software by 2.2% during the 1st quarter. Commerce Bank now owns 2,351 shares of the software maker’s stock worth $514,000 after acquiring an additional 50 shares during the period. Allworth Financial LP grew its holdings in Paycom Software by 12.9% during the 1st quarter. Allworth Financial LP now owns 464 shares of the software maker’s stock worth $105,000 after acquiring an additional 53 shares during the period. US Bancorp DE grew its holdings in Paycom Software by 0.5% during the 1st quarter. US Bancorp DE now owns 10,421 shares of the software maker’s stock worth $2,277,000 after acquiring an additional 57 shares during the period. Finally, Burns Matteson Capital Management LLC grew its holdings in Paycom Software by 2.5% during the 1st quarter. Burns Matteson Capital Management LLC now owns 2,348 shares of the software maker’s stock worth $513,000 after acquiring an additional 58 shares during the period. Institutional investors 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.