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

Paycom Software, Inc. (NYSE:PAYC) has been given a consensus rating of “Hold” by the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $226.90.

PAYC has been the subject of several recent analyst reports. Wall Street Zen cut Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Stifel Nicolaus lifted their target price on Paycom Software from $187.00 to $215.00 and gave the company a “hold” rating in a report on Thursday, May 8th. KeyCorp lifted their price target on Paycom Software from $245.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Barclays lifted their price target on Paycom Software from $221.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, May 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, May 8th.

Insider Transactions at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 120,000 shares of Paycom Software stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $243.52, for a total value of $29,222,400.00. Following the completion of the transaction, the chief executive officer now directly owns 3,307,249 shares in the company, valued at $805,381,276.48. The trade was a 3.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Randall Peck sold 890 shares of Paycom Software stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total value of $234,256.90. Following the completion of the transaction, the chief operating officer now owns 49,394 shares of the company’s stock, valued at approximately $13,000,994.74. The trade was a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 172,016 shares of company stock valued at $42,736,608. 10.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Paycom Software

Hedge funds and other institutional investors have recently made changes to their positions in the business. Glass Jacobson Investment Advisors llc raised its stake in Paycom Software by 746.7% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker’s stock valued at $26,000 after purchasing an additional 112 shares during the period. von Borstel & Associates Inc. purchased a new position in shares of Paycom Software during the 1st quarter valued at $27,000. SouthState Corp purchased a new position in shares of Paycom Software during the 1st quarter valued at $27,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Paycom Software during the 4th quarter valued at $30,000. Finally, Golden State Wealth Management LLC grew its holdings in shares of Paycom Software by 112.3% during the 1st quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker’s stock valued at $30,000 after acquiring an additional 73 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Stock Performance

NYSE:PAYC opened at $225.98 on Friday. Paycom Software has a one year low of $139.50 and a one year high of $267.76. The stock has a market cap of $13.07 billion, a PE ratio of 32.24, a P/E/G ratio of 2.45 and a beta of 0.81. The stock has a 50 day moving average price of $243.69 and a 200 day moving average price of $223.03.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.18. The company 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 25.53% and a net margin of 20.60%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.59 earnings per share. As a group, analysts predict that Paycom Software will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software’s payout ratio is 21.40%.

Paycom Software Company Profile

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.