Paycom Software, Inc. (NYSE:PAYC) Receives $257.18 Consensus Target Price from Analysts

Shares of Paycom Software, Inc. (NYSE:PAYC) have been assigned an average rating of “Hold” from the nineteen ratings firms that are covering the firm, MarketBeat.com reports. Sixteen investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $257.18.

PAYC has been the subject of a number of recent analyst reports. Piper Sandler upped their target price on Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Citigroup decreased their price objective on shares of Paycom Software from $205.00 to $198.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 31st. UBS Group upped their target price on Paycom Software from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. BTIG Research started coverage on Paycom Software in a research note on Tuesday, February 6th. They issued a “neutral” rating on the stock. Finally, Jefferies Financial Group restated a “hold” rating and set a $195.00 price objective on shares of Paycom Software in a research report on Friday, January 5th.

Institutional Trading of Paycom Software

Institutional investors have recently modified their holdings of the business. Mather Group LLC. acquired a new position in Paycom Software during the 1st quarter worth about $26,000. Hexagon Capital Partners LLC lifted its stake in shares of Paycom Software by 333.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock worth $27,000 after acquiring an additional 100 shares during the period. Cary Street Partners Investment Advisory LLC boosted its holdings in Paycom Software by 83.5% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock valued at $40,000 after acquiring an additional 71 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in Paycom Software during the 4th quarter valued at approximately $41,000. Finally, SYSTM Wealth Solutions LLC increased its position in Paycom Software by 75.8% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 225 shares of the software maker’s stock valued at $45,000 after purchasing an additional 97 shares during the period. Institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Up 2.2 %

Shares of Paycom Software stock opened at $193.14 on Tuesday. The stock has a market capitalization of $11.12 billion, a price-to-earnings ratio of 32.74, a price-to-earnings-growth ratio of 3.22 and a beta of 1.17. Paycom Software has a twelve month low of $146.15 and a twelve month high of $374.04. The company has a 50-day simple moving average of $189.87 and a two-hundred day simple moving average of $195.96.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. The company had revenue of $434.60 million during the quarter, compared to the consensus estimate of $422.50 million. Paycom Software had a net margin of 20.12% and a return on equity of 24.60%. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.38 earnings per share. On average, sell-side analysts anticipate that Paycom Software will post 5.73 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.78%. Paycom Software’s payout ratio is currently 25.42%.

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.