Paycom Software (NYSE:PAYC) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Paycom Software (NYSE:PAYC) from a strong sell rating to a hold rating in a research note released on Wednesday morning,Zacks.com reports.

PAYC has been the subject of several other reports. Cantor Fitzgerald dropped their target price on Paycom Software from $135.00 to $115.00 and set a “neutral” rating for the company in a research report on Thursday, February 12th. BMO Capital Markets lowered their price objective on shares of Paycom Software from $175.00 to $137.00 and set a “market perform” rating for the company in a research note on Thursday, February 12th. Citigroup dropped their price objective on shares of Paycom Software from $185.00 to $128.00 and set a “neutral” rating for the company in a report on Friday, February 13th. Guggenheim reduced their target price on shares of Paycom Software from $210.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Paycom Software from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Five analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $168.57.

Paycom Software Price Performance

Shares of PAYC stock traded down $3.25 during trading hours on Wednesday, hitting $117.47. The company had a trading volume of 135,112 shares, compared to its average volume of 1,512,708. The stock has a market capitalization of $6.61 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 1.36 and a beta of 0.79. The company’s fifty day moving average is $146.95 and its 200 day moving average is $181.05. Paycom Software has a fifty-two week low of $104.90 and a fifty-two week high of $267.76.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, February 11th. The software maker reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.01. Paycom Software had a return on equity of 24.25% and a net margin of 22.10%.The company had revenue of $544.30 million for the quarter, compared to analyst estimates of $542.79 million. During the same quarter in the previous year, the company earned $2.32 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities analysts forecast that Paycom Software will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Monday, March 9th will be issued a $0.375 dividend. The ex-dividend date is Monday, March 9th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.3%. Paycom Software’s dividend payout ratio is presently 18.54%.

Insider Buying and Selling at Paycom Software

In related news, CFO Robert D. Foster sold 1,300 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $162.66, for a total transaction of $211,458.00. Following the completion of the sale, the chief financial officer owned 14,747 shares in the company, valued at $2,398,747.02. The trade was a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 10.90% of the company’s stock.

Institutional Trading of Paycom Software

Several institutional investors have recently modified their holdings of the stock. CYBER HORNET ETFs LLC purchased a new position in shares of Paycom Software during the second quarter worth about $29,000. Caitlin John LLC acquired a new stake in shares of Paycom Software in the 3rd quarter valued at about $29,000. MUFG Securities EMEA plc purchased a new position in Paycom Software during the 2nd quarter worth approximately $33,000. Steigerwald Gordon & Koch Inc. purchased a new position in Paycom Software during the 3rd quarter worth approximately $31,000. Finally, Brown Brothers Harriman & Co. lifted its stake in Paycom Software by 190.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 154 shares of the software maker’s stock valued at $25,000 after buying an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Company Profile

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.