Paycom Software (NYSE:PAYC) Upgraded at TD Cowen

TD Cowen upgraded shares of Paycom Software (NYSE:PAYC) from a hold rating to a buy rating in a research note released on Monday morning, Marketbeat.com reports. TD Cowen currently has $258.00 price target on the software maker’s stock, up from their prior price target of $246.00.

A number of other equities analysts have also recently issued reports on PAYC. KeyCorp increased their price objective on shares of Paycom Software from $285.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of Paycom Software from $215.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. UBS Group dropped their price objective on shares of Paycom Software from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, September 17th. BMO Capital Markets increased their price objective on shares of Paycom Software from $244.00 to $258.00 and gave the company a “market perform” rating in a research note on Thursday, August 7th. Finally, Cantor Fitzgerald upgraded shares of Paycom Software to a “hold” rating in a research note on Thursday, September 11th. Three research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $239.42.

Paycom Software Price Performance

NYSE PAYC opened at $217.33 on Monday. The firm has a market capitalization of $12.58 billion, a price-to-earnings ratio of 29.41, a P/E/G ratio of 2.42 and a beta of 0.81. The company’s fifty day moving average is $225.47 and its two-hundred day moving average is $229.63. Paycom Software has a 52-week low of $158.03 and a 52-week high of $267.76.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.28. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The company had revenue of $483.60 million for the quarter, compared to analyst estimates of $472.00 million. During the same period last year, the business posted $1.62 EPS. The business’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, sell-side analysts expect that Paycom Software will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 25th were given a dividend of $0.375 per share. The ex-dividend date was Monday, August 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. Paycom Software’s dividend payout ratio (DPR) is 20.30%.

Insider Activity

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $223.27, for a total transaction of $334,905.00. Following the sale, the insider owned 24,533 shares of the company’s stock, valued at $5,477,482.91. This represents a 5.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Paycom Software

Hedge funds have recently added to or reduced their stakes in the stock. von Borstel & Associates Inc. bought a new stake in Paycom Software during the 1st quarter worth about $27,000. SouthState Corp bought a new stake in Paycom Software during the 1st quarter worth about $27,000. CYBER HORNET ETFs LLC bought a new stake in Paycom Software during the 2nd quarter worth about $29,000. Golden State Wealth Management LLC grew its holdings in Paycom Software by 112.3% during the 1st quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker’s stock worth $30,000 after acquiring an additional 73 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Paycom Software by 135.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker’s stock worth $33,000 after acquiring an additional 87 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

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.