Paycom Software (NYSE:PAYC) Price Target Raised to $200.00

Paycom Software (NYSE:PAYC) had its price objective lifted by JPMorgan Chase & Co. from $185.00 to $200.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a neutral rating on the software maker’s stock.

A number of other brokerages also recently issued reports on PAYC. BMO Capital Markets lifted their price target on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Barclays cut their price target on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Citigroup cut their price target on Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research note on Thursday. Finally, TD Cowen boosted their target price on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $209.22.

Paycom Software Stock Down 1.1 %

Shares of NYSE PAYC opened at $209.72 on Thursday. The business has a fifty day simple moving average of $210.30 and a two-hundred day simple moving average of $192.02. The firm has a market cap of $12.09 billion, a PE ratio of 25.24, a price-to-earnings-growth ratio of 2.81 and a beta of 1.15. Paycom Software has a twelve month low of $139.50 and a twelve month high of $242.74.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a return on equity of 32.90% and a net margin of 25.78%. On average, research analysts expect that Paycom Software will post 6.88 earnings per share for the current year.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.50 dividend on an annualized basis and a yield of 0.72%. Paycom Software’s dividend payout ratio is currently 18.05%.

Institutional Trading of Paycom Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PAYC. FMR LLC increased its stake in Paycom Software by 137.8% during the 4th quarter. FMR LLC now owns 2,396,452 shares of the software maker’s stock worth $491,201,000 after buying an additional 1,388,533 shares in the last quarter. Sylebra Capital LLC raised its stake in shares of Paycom Software by 0.3% in the third quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker’s stock valued at $326,888,000 after acquiring an additional 5,000 shares in the last quarter. Geode Capital Management LLC increased its holdings in Paycom Software by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 1,516,768 shares of the software maker’s stock valued at $310,245,000 after buying an additional 89,848 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Paycom Software by 10.9% during the fourth quarter. Northern Trust Corp now owns 724,016 shares of the software maker’s stock worth $148,402,000 after purchasing an additional 70,897 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Paycom Software by 1.0% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker’s stock worth $104,524,000 after buying an additional 6,488 shares during the last quarter. 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.