Paycom Software (NYSE:PAYC) Price Target Lowered to $184.00 at TD Cowen

Paycom Software (NYSE:PAYC) had its price objective cut by TD Cowen from $200.00 to $184.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a buy rating on the software maker’s stock.

Other research analysts also recently issued research reports about the stock. Cantor Fitzgerald upgraded shares of Paycom Software to a “hold” rating in a report on Thursday, September 11th. BTIG Research began coverage on shares of Paycom Software in a report on Wednesday, December 17th. They issued a “buy” rating and a $195.00 target price on the stock. Zacks Research raised shares of Paycom Software from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 20th. Jefferies Financial Group decreased their price objective on Paycom Software from $225.00 to $190.00 and set a “hold” rating for the company in a report on Thursday, November 6th. Finally, Mizuho lowered their price objective on Paycom Software from $220.00 to $180.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $219.86.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $157.78 on Thursday. Paycom Software has a 52-week low of $151.74 and a 52-week high of $267.76. The business’s 50 day simple moving average is $163.97 and its two-hundred day simple moving average is $200.35. The firm has a market cap of $8.88 billion, a P/E ratio of 19.62, a PEG ratio of 1.61 and a beta of 0.82.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, November 5th. The software maker reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.02). Paycom Software had a return on equity of 24.79% and a net margin of 22.65%.The firm had revenue of $493.30 million for the quarter, compared to analyst estimates of $492.62 million. During the same period in the previous year, the company earned $1.67 earnings per share. Paycom Software’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, equities analysts forecast that Paycom Software will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 8th. Investors of record on Monday, November 24th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, November 24th. Paycom Software’s dividend payout ratio (DPR) is presently 18.66%.

Insiders Place Their Bets

In other Paycom Software news, CFO Robert D. Foster sold 1,300 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $162.66, for a total value of $211,458.00. Following the transaction, the chief financial officer owned 14,747 shares of the company’s stock, valued at approximately $2,398,747.02. The trade was a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.90% of the company’s stock.

Hedge Funds Weigh In On Paycom Software

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ethic Inc. purchased a new position in shares of Paycom Software in the second quarter worth $566,000. Aviva PLC boosted its position in Paycom Software by 65.2% during the 2nd quarter. Aviva PLC now owns 34,129 shares of the software maker’s stock valued at $7,897,000 after buying an additional 13,473 shares during the period. United Asset Strategies Inc. bought a new stake in Paycom Software in the 2nd quarter worth $877,000. Hussman Strategic Advisors Inc. bought a new stake in Paycom Software in the 2nd quarter worth $2,916,000. Finally, Nisa Investment Advisors LLC increased its position in shares of Paycom Software by 88.1% in the second quarter. Nisa Investment Advisors LLC now owns 14,658 shares of the software maker’s stock valued at $3,392,000 after acquiring an additional 6,866 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

About Paycom Software

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.