Paycom Software (NYSE:PAYC) Price Target Cut to $145.00 by Analysts at Jefferies Financial Group

Paycom Software (NYSE:PAYC) had its price objective cut by Jefferies Financial Group from $170.00 to $145.00 in a report released on Monday morning, Benzinga reports. They currently have a hold rating on the software maker’s stock.

A number of other equities analysts have also commented on the stock. StockNews.com raised shares of Paycom Software from a hold rating to a buy rating in a research report on Tuesday, May 28th. BMO Capital Markets cut their target price on Paycom Software from $200.00 to $190.00 and set a market perform rating on the stock in a research note on Thursday, May 2nd. Citigroup reduced their target price on shares of Paycom Software from $193.00 to $162.00 and set a neutral rating for the company in a report on Tuesday, June 18th. Needham & Company LLC restated a hold rating on shares of Paycom Software in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Paycom Software from $165.00 to $175.00 and gave the stock a neutral rating in a research note on Thursday, May 2nd. Sixteen research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $237.81.

Paycom Software Price Performance

Shares of NYSE:PAYC opened at $145.00 on Monday. The firm has a market capitalization of $8.43 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 2.25 and a beta of 1.17. The business has a 50 day simple moving average of $166.96 and a two-hundred day simple moving average of $184.77. Paycom Software has a 1 year low of $140.12 and a 1 year high of $374.04.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, May 1st. The software maker reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $2.29. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. The company had revenue of $499.88 million during the quarter, compared to analysts’ expectations of $495.89 million. Equities research analysts expect that Paycom Software will post 6.26 EPS for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Tuesday, May 28th were given a dividend of $0.375 per share. The ex-dividend date 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 presently 18.27%.

Insider Activity at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $180.82, for a total transaction of $352,599.00. Following the sale, the chief executive officer now directly owns 3,091,958 shares in the company, valued at approximately $559,087,845.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Amy Vickroy sold 1,381 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $143.39, for a total transaction of $198,021.59. Following the completion of the transaction, the executive vice president now owns 19,962 shares in the company, valued at approximately $2,862,351.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $180.82, for a total value of $352,599.00. Following the completion of the sale, the chief executive officer now owns 3,091,958 shares in the company, valued at $559,087,845.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,737 shares of company stock worth $3,711,577. 14.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Paycom Software

A number of hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its stake in Paycom Software by 479.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 249 shares of the software maker’s stock valued at $47,000 after purchasing an additional 206 shares during the last quarter. Aurora Investment Counsel purchased a new stake in shares of Paycom Software during the first quarter worth $2,457,000. Cetera Advisors LLC raised its position in shares of Paycom Software by 13.9% in the first quarter. Cetera Advisors LLC now owns 2,771 shares of the software maker’s stock valued at $551,000 after buying an additional 339 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Paycom Software by 490.0% in the first quarter. Cetera Investment Advisers now owns 18,042 shares of the software maker’s stock valued at $3,591,000 after buying an additional 14,984 shares during the last quarter. Finally, Atria Investments Inc purchased a new position in shares of Paycom Software in the first quarter worth about $2,142,000. 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.