Paycom Software (NYSE:PAYC) Price Target Lowered to $147.00 at TD Cowen

Paycom Software (NYSE:PAYC) had its price objective decreased by TD Cowen from $170.00 to $147.00 in a research report sent to investors on Thursday, Benzinga reports. TD Cowen currently has a hold rating on the software maker’s stock.

Several other research analysts have also recently weighed in on PAYC. JPMorgan Chase & Co. increased their price target on shares of Paycom Software from $165.00 to $175.00 and gave the company a neutral rating in a report on Thursday, May 2nd. William Blair reaffirmed a market perform rating on shares of Paycom Software in a report on Thursday, May 2nd. BMO Capital Markets lowered their target price on shares of Paycom Software from $200.00 to $190.00 and set a market perform rating on the stock in a report on Thursday, May 2nd. Barclays lowered their target price on shares of Paycom Software from $193.00 to $184.00 and set an equal weight rating on the stock in a report on Thursday, May 2nd. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Paycom Software in a report on Thursday, May 2nd. Sixteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $240.94.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $145.70 on Thursday. The company has a market capitalization of $8.47 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 2.18 and a beta of 1.17. Paycom Software has a 52-week low of $140.12 and a 52-week high of $374.04. The company has a 50-day simple moving average of $168.92 and a 200 day simple moving average of $185.30.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, May 1st. The software maker reported $4.25 earnings per share for the quarter, beating the consensus estimate of $1.96 by $2.29. The firm had revenue of $499.88 million for the quarter, compared to analysts’ expectations of $495.89 million. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. As a group, equities analysts forecast that Paycom Software will post 6.26 earnings per share for the current year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th were given a $0.375 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $1.50 dividend on an annualized basis and a yield of 1.03%. Paycom Software’s dividend payout ratio is currently 18.27%.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $180.82, for a total value of $352,599.00. Following the sale, the chief executive officer now owns 3,091,958 shares in the company, valued at $559,087,845.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jason D. Clark sold 906 shares of Paycom Software stock in a transaction on Friday, June 14th. The shares were sold at an average price of $143.61, for a total transaction of $130,110.66. Following the transaction, the insider now owns 43,367 shares in the company, valued at $6,227,934.87. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Friday, May 17th. The stock was sold at an average price of $180.82, for a total transaction of $352,599.00. Following the transaction, the chief executive officer now owns 3,091,958 shares in the company, valued at approximately $559,087,845.56. The disclosure for this sale can be found here. Insiders have sold 21,787 shares of company stock worth $3,430,426 over the last quarter. Corporate insiders own 14.50% of the company’s stock.

Hedge Funds Weigh In On Paycom Software

Hedge funds have recently modified their holdings of the business. Rafferty Asset Management LLC lifted its holdings in Paycom Software by 5.4% in the third quarter. Rafferty Asset Management LLC now owns 5,992 shares of the software maker’s stock valued at $1,554,000 after buying an additional 308 shares during the period. QRG Capital Management Inc. bought a new stake in Paycom Software during the third quarter valued at $474,000. Envestnet Asset Management Inc. boosted its position in Paycom Software by 42.0% during the third quarter. Envestnet Asset Management Inc. now owns 222,863 shares of the software maker’s stock valued at $57,782,000 after acquiring an additional 65,924 shares during the last quarter. Invesco Ltd. boosted its position in Paycom Software by 22.7% during the third quarter. Invesco Ltd. now owns 485,267 shares of the software maker’s stock valued at $125,815,000 after acquiring an additional 89,734 shares during the last quarter. Finally, V Square Quantitative Management LLC bought a new stake in Paycom Software during the third quarter valued at $162,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Company Profile

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.