Paycom Software (NYSE:PAYC) Upgraded at Zacks Research

Zacks Research upgraded shares of Paycom Software (NYSE:PAYC) from a strong sell rating to a hold rating in a report released on Thursday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Paycom Software from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Cantor Fitzgerald upgraded Paycom Software to a “hold” rating in a report on Thursday, September 11th. UBS Group lowered their price target on Paycom Software from $285.00 to $245.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. TD Cowen cut their price objective on shares of Paycom Software from $258.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Finally, BMO Capital Markets upped 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. Four equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, Paycom Software currently has a consensus rating of “Hold” and a consensus price target of $225.77.

Paycom Software Stock Up 1.2%

PAYC stock opened at $161.90 on Thursday. The company’s 50-day moving average price is $194.05 and its two-hundred day moving average price is $221.92. Paycom Software has a 12 month low of $156.50 and a 12 month high of $267.76. The firm has a market cap of $9.11 billion, a P/E ratio of 20.14, a P/E/G ratio of 1.76 and a beta of 0.88.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, November 5th. The software maker reported $1.94 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.02). The business had revenue of $493.30 million for the quarter, compared to analyst estimates of $492.62 million. Paycom Software had a return on equity of 24.79% and a net margin of 22.65%.The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.67 EPS. Paycom Software has set its FY 2025 guidance at EPS. Equities analysts predict that Paycom Software will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Monday, November 24th will be given a $0.375 dividend. The ex-dividend date of this dividend is Monday, November 24th. This represents a $1.50 annualized dividend and a yield of 0.9%. Paycom Software’s payout ratio is currently 18.66%.

Insiders Place Their Bets

In other news, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $223.27, for a total transaction of $334,905.00. Following the completion of the transaction, the insider directly owned 24,533 shares of the company’s stock, valued at $5,477,482.91. This represents a 5.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Paycom Software

Several institutional investors and hedge funds have recently bought and sold shares of the company. SouthState Corp bought a new stake in shares of Paycom Software in the first quarter valued at $27,000. Caitlin John LLC purchased a new stake in Paycom Software in the 3rd quarter worth about $29,000. CYBER HORNET ETFs LLC bought a new stake in Paycom Software in the 2nd quarter valued at about $29,000. Steigerwald Gordon & Koch Inc. bought a new stake in Paycom Software in the 3rd quarter valued at about $31,000. Finally, MUFG Securities EMEA plc purchased a new stake in Paycom Software during the second quarter valued at about $33,000. 87.77% of the stock is owned by institutional investors.

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.