Paycom Software, Inc. (NYSE:PAYC) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Paycom Software, Inc. (NYSE:PAYC) have been given an average rating of “Hold” by the twelve research firms that are covering the company, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $212.80.

A number of research firms have issued reports on PAYC. KeyCorp upgraded Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 price target on the stock in a report on Monday, March 10th. Citigroup reduced their price target on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Piper Sandler lifted their price target on shares of Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, February 13th. Finally, TD Cowen raised their target price on Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research note on Monday, December 9th.

Paycom Software Stock Up 0.5 %

PAYC stock opened at $217.04 on Friday. The firm has a market cap of $12.43 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 2.40 and a beta of 1.14. The company’s fifty day simple moving average is $209.51 and its 200 day simple moving average is $200.53. Paycom Software has a 12-month low of $139.50 and a 12-month high of $242.74.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data 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 33.53% and a net margin of 26.66%. Research analysts expect that Paycom Software will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

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

Insider Buying and Selling

In related news, insider Bradley Scott Smith sold 3,000 shares of Paycom Software stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $201.01, for a total transaction of $603,030.00. Following the sale, the insider now directly owns 28,733 shares in the company, valued at approximately $5,775,620.33. This trade represents a 9.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Randall Peck sold 3,600 shares of the business’s stock in a transaction on 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 transaction, the chief operating officer now directly owns 50,665 shares in the company, valued at approximately $10,750,606.35. This represents a 6.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,100 shares of company stock worth $1,476,024. 14.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Paycom Software

A number of hedge funds have recently modified their holdings of the stock. Private Trust Co. NA increased its position in Paycom Software by 9.3% in the fourth quarter. Private Trust Co. NA now owns 575 shares of the software maker’s stock worth $118,000 after buying an additional 49 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in Paycom Software by 1.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker’s stock worth $602,000 after acquiring an additional 51 shares during the last quarter. Wrapmanager Inc. raised its stake in Paycom Software by 2.6% in the 3rd quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock valued at $362,000 after acquiring an additional 56 shares during the period. Benjamin Edwards Inc. raised its stake in Paycom Software by 1.1% in the 4th quarter. Benjamin Edwards Inc. now owns 5,502 shares of the software maker’s stock valued at $1,128,000 after acquiring an additional 60 shares during the period. Finally, Michael S. Ryan Inc. lifted its holdings in Paycom Software by 2.5% during the fourth quarter. Michael S. Ryan Inc. now owns 2,796 shares of the software maker’s stock valued at $573,000 after purchasing an additional 68 shares during the last quarter. 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.