Paycom Software (NYSE:PAYC) Price Target Raised to $300.00

by · The Markets Daily

Paycom Software (NYSE:PAYC – Free Report) had its price target hoisted by Guggenheim from $225.00 to $300.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

A number of other equities analysts also recently weighed in on PAYC. Zacks Research downgraded shares of Paycom Software from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Citigroup increased their price target on shares of Paycom Software from $136.00 to $194.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. BMO Capital Markets raised their price objective on shares of Paycom Software from $145.00 to $208.00 and gave the stock a “market perform” rating in a report on Thursday, August 6th. Bank of America began coverage on shares of Paycom Software in a research report on Tuesday, September 29th. They issued an “underperform” rating and a $200.00 price objective on the stock. Finally, UBS Group lifted their price objective on shares of Paycom Software from $205.00 to $285.00 and gave the stock a “buy” rating in a research report on Tuesday, September 1st. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $225.14.

Check Out Our Latest Report on Paycom Software

Paycom Software Stock Performance

Shares of Paycom Software stock opened at $274.64 on Friday. The business’s fifty day simple moving average is $231.72 and its 200 day simple moving average is $173.97. The firm has a market capitalization of $12.38 billion, a P/E ratio of 29.19, a price-to-earnings-growth ratio of 1.47 and a beta of 0.82. Paycom Software has a 12 month low of $104.90 and a 12 month high of $275.22. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.57.

Paycom Software (NYSE:PAYC – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.40. The business had revenue of $531.20 million for the quarter, compared to analysts’ expectations of $513.12 million. Paycom Software had a return on equity of 37.06% and a net margin of 22.78%. The business’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.06 earnings per share. As a group, analysts anticipate that Paycom Software will post 10.80 EPS for the current year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th were given a $0.3750 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Monday, August 24th. Paycom Software’s dividend payout ratio (DPR) is currently 15.94%.

Insider Transactions at Paycom Software

In other Paycom Software news, insider Shane Hadlock sold 241 shares of the business’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $240.07, for a total value of $57,856.87. Following the sale, the insider directly owned 69,911 shares in the company, valued at $16,783,533.77. The trade was a 0.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 13.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. TD Waterhouse Canada Inc. bought a new stake in Paycom Software in the 3rd quarter valued at about $25,000. Caitlin John LLC purchased a new stake in Paycom Software during the second quarter valued at about $31,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Paycom Software during the second quarter worth about $33,000. EFG International AG bought a new position in Paycom Software during the second quarter worth about $36,000. Finally, Trust Co. of Vermont bought a new position in Paycom Software during the second quarter worth about $40,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

About Paycom Software

(Get Free Report)

Paycom Software, Inc is a provider of cloud-based human capital management (HCM) software designed to help businesses manage employee-related processes through a unified platform. Its solutions support payroll, human resources, talent acquisition and management, time and labor management, compliance, and employee engagement.

The company’s software is intended to allow employers and employees to enter and manage workforce information within a single system. Its offerings include payroll processing, benefits administration, expense management, scheduling, performance management, learning, and recruiting tools.

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