Barclays Issues Positive Forecast for Paycom Software (NYSE:PAYC) Stock Price

Paycom Software (NYSE:PAYC) had its target price hoisted by Barclays from $148.00 to $154.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the software maker’s stock.

Several other equities analysts have also weighed in on the company. UBS Group cut their price target on Paycom Software from $210.00 to $183.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. BMO Capital Markets increased their price target on Paycom Software from $137.00 to $145.00 and gave the stock a “market perform” rating in a research report on Thursday, May 7th. BTIG Research raised their price objective on Paycom Software from $140.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, May 7th. TD Cowen cut their price objective on Paycom Software from $154.00 to $149.00 and set a “buy” rating for the company in a research report on Friday, June 26th. Finally, Weiss Ratings raised Paycom Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Paycom Software has a consensus rating of “Moderate Buy” and an average price target of $159.75.

Paycom Software Stock Performance

Shares of NYSE PAYC opened at $144.08 on Tuesday. The company has a market capitalization of $6.86 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 1.27 and a beta of 0.80. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.08 and a current ratio of 1.08. The company’s fifty day moving average price is $136.32 and its 200 day moving average price is $133.41. Paycom Software has a 1 year low of $104.90 and a 1 year high of $248.95.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, May 6th. The software maker reported $3.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $0.16. Paycom Software had a net margin of 22.44% and a return on equity of 28.34%. The company had revenue of $571.80 million during the quarter, compared to analysts’ expectations of $564.37 million. During the same quarter in the previous year, the company earned $2.80 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, research analysts predict that Paycom Software will post 9.37 earnings per share for the current year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Tuesday, May 26th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Tuesday, May 26th. Paycom Software’s dividend payout ratio is 17.34%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Reinhart Partners LLC. increased its stake in Paycom Software by 887.4% during the 4th quarter. Reinhart Partners LLC. now owns 598,323 shares of the software maker’s stock worth $95,351,000 after buying an additional 537,726 shares in the last quarter. Contour Asset Management LLC purchased a new position in shares of Paycom Software in the fourth quarter valued at approximately $60,333,000. Two Sigma Investments LP boosted its stake in shares of Paycom Software by 228.7% in the third quarter. Two Sigma Investments LP now owns 532,124 shares of the software maker’s stock worth $110,756,000 after acquiring an additional 370,219 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Paycom Software by 28.2% in the fourth quarter. Invesco Ltd. now owns 1,559,682 shares of the software maker’s stock worth $248,551,000 after acquiring an additional 343,494 shares during the last quarter. Finally, River Road Asset Management LLC increased its position in shares of Paycom Software by 481.9% during the fourth quarter. River Road Asset Management LLC now owns 392,403 shares of the software maker’s stock worth $62,533,000 after purchasing an additional 324,970 shares in the last quarter. 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.