Paycom Software (NYSE:PAYC) Upgraded to “Overweight” at KeyCorp

KeyCorp upgraded shares of Paycom Software (NYSE:PAYC) from a sector weight rating to an overweight rating in a report published on Monday morning, Marketbeat Ratings reports. They currently have $245.00 target price on the software maker’s stock.

A number of other equities analysts also recently issued reports on the company. TD Cowen raised their price target on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Mizuho upped their price target on shares of Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. raised their price objective on shares of Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, Stifel Nicolaus reduced their target price on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating for the company in a report on Thursday, February 13th. Twelve investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $212.80.

Paycom Software Stock Performance

NYSE PAYC opened at $216.60 on Monday. Paycom Software has a one year low of $139.50 and a one year high of $242.74. The stock has a 50-day moving average of $208.86 and a 200 day moving average of $198.59. The company has a market capitalization of $12.40 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 2.40 and a beta of 1.14.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. On average, equities analysts predict that Paycom Software will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be paid a $0.375 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.50 dividend on an annualized basis and a yield of 0.69%. Paycom Software’s payout ratio is presently 16.85%.

Insider Activity

In other Paycom Software news, Director J C. Watts, Jr. sold 500 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $218.22, for a total transaction of $109,110.00. Following the completion of the transaction, the director now owns 7,730 shares of the company’s stock, valued at $1,686,840.60. This represents a 6.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Randall Peck sold 3,600 shares of Paycom Software stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $212.19, for a total value of $763,884.00. Following the completion of the sale, the chief operating officer now directly owns 50,665 shares in the company, valued at $10,750,606.35. This trade represents a 6.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 14.50% of the company’s stock.

Institutional Investors Weigh In On Paycom Software

Several large investors have recently bought and sold shares of PAYC. Glass Jacobson Investment Advisors llc grew its stake in shares of Paycom Software by 746.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker’s stock worth $26,000 after buying an additional 112 shares in the last quarter. Brooklyn Investment Group purchased a new position in Paycom Software in the third quarter worth about $28,000. Pin Oak Investment Advisors Inc. increased its stake in Paycom Software by 73.3% during the third quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after acquiring an additional 77 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in Paycom Software during the fourth quarter valued at approximately $30,000. Finally, First Horizon Advisors Inc. lifted its stake in shares of Paycom Software by 821.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock valued at $35,000 after purchasing an additional 189 shares during the last quarter. Institutional investors 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.