Paycom Software, Inc. (NYSE:PAYC) Receives Average Rating of “Hold” from Analysts

Shares of Paycom Software, Inc. (NYSE:PAYC) have been given an average rating of “Hold” by the eleven brokerages that are presently covering the company, MarketBeat.com reports. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $226.90.

A number of analysts recently weighed in on the stock. Citigroup lowered their price target on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. upped their price target on Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Barclays lifted their price objective on Paycom Software from $221.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday.

Paycom Software Stock Performance

Shares of PAYC opened at $252.95 on Friday. The company has a market cap of $14.63 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 2.40 and a beta of 0.80. The stock has a fifty day moving average price of $217.84 and a two-hundred day moving average price of $214.62. Paycom Software has a 52-week low of $139.50 and a 52-week high of $255.12.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. The business had revenue of $530.50 million during the quarter, compared to analysts’ expectations of $522.92 million. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.59 earnings per share. As a group, research analysts predict that Paycom Software will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Tuesday, May 27th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Tuesday, May 27th. Paycom Software’s dividend payout ratio is currently 16.85%.

Insiders Place Their Bets

In other Paycom Software news, COO Randall Peck sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $212.19, for a total transaction of $763,884.00. Following the sale, the chief operating officer now directly owns 50,665 shares in the company, valued at approximately $10,750,606.35. This trade represents a 6.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Chad R. Richison sold 120,000 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $243.52, for a total transaction of $29,222,400.00. Following the completion of the transaction, the chief executive officer now owns 3,307,249 shares of the company’s stock, valued at $805,381,276.48. This trade represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 127,100 shares of company stock worth $30,698,424. Company insiders own 10.90% of the company’s stock.

Institutional Investors Weigh In On Paycom Software

Several institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its position in shares of Paycom Software by 0.6% during the third quarter. Barclays PLC now owns 109,636 shares of the software maker’s stock worth $18,261,000 after buying an additional 617 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Paycom Software during the 3rd quarter worth approximately $79,000. Peapack Gladstone Financial Corp raised its holdings in shares of Paycom Software by 71.7% in the third quarter. Peapack Gladstone Financial Corp now owns 2,488 shares of the software maker’s stock valued at $414,000 after purchasing an additional 1,039 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Paycom Software by 9.3% in the third quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock worth $10,962,000 after purchasing an additional 5,574 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Paycom Software by 14.5% during the third quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock worth $54,305,000 after purchasing an additional 41,187 shares during the last quarter. 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.