KeyCorp Cuts Paycom Software (NYSE:PAYC) Price Target to $250.00

Paycom Software (NYSE:PAYC) had its price objective trimmed by KeyCorp from $290.00 to $250.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the software maker’s stock.

Several other research analysts also recently issued reports on the stock. Mizuho dropped their price objective on shares of Paycom Software from $220.00 to $180.00 and set a “neutral” rating on the stock in a report on Thursday. Cantor Fitzgerald upgraded Paycom Software to a “hold” rating in a research report on Thursday, September 11th. JPMorgan Chase & Co. lifted their price target on shares of Paycom Software from $215.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Jefferies Financial Group reduced their price objective on shares of Paycom Software from $250.00 to $225.00 and set a “hold” rating for the company in a report on Monday, October 13th. Finally, BMO Capital Markets increased their price target on shares of Paycom Software from $244.00 to $258.00 and gave the stock a “market perform” rating in a research report on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $225.77.

Paycom Software Price Performance

PAYC stock opened at $162.44 on Thursday. The stock has a market capitalization of $9.40 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 1.79 and a beta of 0.88. The company has a 50-day moving average of $205.86 and a two-hundred day moving average of $226.28. Paycom Software has a 52-week low of $156.50 and a 52-week high of $267.76.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, November 5th. The software maker reported $1.94 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.02). The business had revenue of $493.30 million for the quarter, compared to analyst estimates of $492.62 million. Paycom Software had a return on equity of 24.79% and a net margin of 22.65%.Paycom Software’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.67 EPS. Paycom Software has set its FY 2025 guidance at EPS. Equities analysts expect that Paycom Software will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Investors of record on Monday, November 24th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Monday, November 24th. Paycom Software’s dividend payout ratio (DPR) is currently 18.66%.

Insider Buying and Selling

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $223.27, for a total value of $334,905.00. Following the transaction, the insider owned 24,533 shares of the company’s stock, valued at approximately $5,477,482.91. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 10.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Paycom Software by 3.2% in the third quarter. Vanguard Group Inc. now owns 5,802,788 shares of the software maker’s stock worth $1,207,792,000 after acquiring an additional 179,218 shares during the last quarter. State Street Corp increased its holdings in shares of Paycom Software by 8.4% in the second quarter. State Street Corp now owns 2,097,910 shares of the software maker’s stock valued at $485,456,000 after purchasing an additional 162,477 shares in the last quarter. Baillie Gifford & Co. raised its position in Paycom Software by 10.3% in the 3rd quarter. Baillie Gifford & Co. now owns 1,708,662 shares of the software maker’s stock worth $355,641,000 after purchasing an additional 158,967 shares during the last quarter. Geode Capital Management LLC raised its position in Paycom Software by 5.3% in the 2nd quarter. Geode Capital Management LLC now owns 1,661,685 shares of the software maker’s stock worth $383,265,000 after purchasing an additional 83,154 shares during the last quarter. Finally, Invesco Ltd. increased its position in Paycom Software by 5.0% in the first quarter. Invesco Ltd. now owns 1,233,057 shares of the software maker’s stock worth $269,398,000 after purchasing an additional 58,176 shares during the period. Institutional investors and hedge funds 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.