Cantor Fitzgerald Cuts Paycom Software (NYSE:PAYC) Price Target to $135.00

Paycom Software (NYSE:PAYC) had its price target cut by Cantor Fitzgerald from $170.00 to $135.00 in a research note published on Thursday morning,Benzinga reports. They currently have a neutral rating on the software maker’s stock.

Other analysts have also recently issued reports about the stock. Mizuho reduced their target price on shares of Paycom Software from $220.00 to $180.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Jefferies Financial Group cut their price objective on Paycom Software from $225.00 to $190.00 and set a “hold” rating for the company in a research report on Thursday, November 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Paycom Software in a research note on Monday, December 29th. Citigroup decreased their target price on Paycom Software from $191.00 to $185.00 and set a “neutral” rating on the stock in a report on Tuesday, December 23rd. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $175.00 target price on shares of Paycom Software in a report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $202.86.

Paycom Software Stock Up 0.3%

Shares of PAYC stock opened at $134.68 on Thursday. The stock has a 50-day simple moving average of $157.39 and a 200 day simple moving average of $191.13. The stock has a market capitalization of $7.58 billion, a P/E ratio of 16.75, a P/E/G ratio of 1.41 and a beta of 0.82. Paycom Software has a fifty-two week low of $132.13 and a fifty-two week high of $267.76.

Paycom Software (NYSE:PAYC) last issued its quarterly 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). The business had revenue of $493.30 million during the quarter, compared to analyst estimates of $492.62 million. Paycom Software had a net margin of 22.65% and a return on equity of 24.79%. Paycom Software’s revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.67 earnings per share. On average, sell-side analysts anticipate that Paycom Software will post 7.15 earnings per share for the current 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 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Monday, November 24th. Paycom Software’s payout ratio is presently 18.66%.

Insider Transactions at Paycom Software

In related news, CFO Robert D. Foster sold 1,300 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $162.66, for a total value of $211,458.00. Following the completion of the sale, the chief financial officer directly owned 14,747 shares of the company’s stock, valued at approximately $2,398,747.02. This represents a 8.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 10.90% of the company’s stock.

Institutional Trading of Paycom Software

Institutional investors have recently bought and sold shares of the company. Allianz Asset Management GmbH increased its position in Paycom Software by 10,106.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 486,957 shares of the software maker’s stock worth $101,355,000 after purchasing an additional 482,186 shares during the last quarter. Two Sigma Investments LP lifted its holdings in shares of Paycom Software by 228.7% during the 3rd quarter. Two Sigma Investments LP now owns 532,124 shares of the software maker’s stock valued at $110,756,000 after buying an additional 370,219 shares during the last quarter. Woodline Partners LP bought a new stake in shares of Paycom Software in the 3rd quarter valued at approximately $58,452,000. Robeco Institutional Asset Management B.V. increased its holdings in Paycom Software by 230.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 341,286 shares of the software maker’s stock worth $54,387,000 after buying an additional 238,155 shares during the last quarter. Finally, Jennison Associates LLC bought a new position in Paycom Software during the second 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 (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.