Barclays Cuts Paycom Software (NYSE:PAYC) Price Target to $184.00

Paycom Software (NYSE:PAYC) had its price target trimmed by Barclays from $193.00 to $184.00 in a report published on Thursday, Benzinga reports. The firm currently has an equal weight rating on the software maker’s stock.

A number of other equities analysts have also weighed in on the stock. Piper Sandler boosted their price objective on shares of Paycom Software from $185.00 to $190.00 and gave the stock a neutral rating in a report on Thursday, February 8th. JPMorgan Chase & Co. boosted their price target on Paycom Software from $165.00 to $175.00 and gave the stock a neutral rating in a research note on Thursday. UBS Group increased their price objective on Paycom Software from $235.00 to $250.00 and gave the company a buy rating in a research report on Wednesday, January 10th. BTIG Research initiated coverage on Paycom Software in a report on Tuesday, February 6th. They issued a neutral rating for the company. Finally, Jefferies Financial Group restated a hold rating and set a $195.00 target price on shares of Paycom Software in a research note on Friday, January 5th. Sixteen research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $247.25.

Paycom Software Trading Up 2.7 %

NYSE PAYC opened at $171.29 on Thursday. Paycom Software has a 12 month low of $146.15 and a 12 month high of $374.04. The stock’s fifty day moving average price is $189.34 and its 200-day moving average price is $193.90. The stock has a market cap of $9.86 billion, a P/E ratio of 20.86, a P/E/G ratio of 2.92 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. The company had revenue of $434.60 million for the quarter, compared to analysts’ expectations of $422.50 million. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. Paycom Software’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.38 EPS. As a group, analysts forecast that Paycom Software will post 5.82 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $1.50 dividend on an annualized basis and a yield of 0.88%. Paycom Software’s dividend payout ratio is currently 18.27%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PAYC. International Assets Investment Management LLC increased its stake in shares of Paycom Software by 16,173.6% in the 4th quarter. International Assets Investment Management LLC now owns 787,803 shares of the software maker’s stock worth $162,855,000 after purchasing an additional 782,962 shares in the last quarter. ValueAct Holdings L.P. bought a new stake in Paycom Software during the fourth quarter valued at about $125,686,000. Meritage Group LP purchased a new stake in Paycom Software in the third quarter worth about $103,800,000. Boston Trust Walden Corp purchased a new stake in Paycom Software in the fourth quarter worth about $48,865,000. Finally, DSM Capital Partners LLC bought a new position in shares of Paycom Software in the third quarter worth about $60,077,000. Hedge funds and other 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.