Paycom Software, Inc. (NYSE:PAYC) Stock Has Consensus Target Price of $256.21 According to Analysts

Shares of Paycom Software, Inc. (NYSE:PAYC) have received an average recommendation of “Hold” from the seventeen research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $255.36.

A number of analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Paycom Software from $210.00 to $250.00 and gave the company an “equal weight” rating in a report on Tuesday, October 13th. TD Cowen lifted their price objective on shares of Paycom Software from $244.00 to $286.00 and gave the company a “buy” rating in a report on Friday, October 2nd. Cantor Fitzgerald boosted their target price on shares of Paycom Software from $195.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, October 30th. Jefferies Financial Group boosted their target price on shares of Paycom Software from $160.00 to $300.00 and gave the stock a “hold” rating in a report on Tuesday, October 27th. Finally, Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a report on Thursday.

Paycom Software Stock Down 0.6%

Shares of NYSE PAYC traded down $1.32 during midday trading on Wednesday, reaching $236.00. The company’s stock had a trading volume of 1,160,502 shares, compared to its average volume of 1,160,693. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.06. Paycom Software has a fifty-two week low of $104.90 and a fifty-two week high of $275.22. The stock has a market capitalization of $10.63 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 1.26 and a beta of 0.75. The stock has a 50 day simple moving average of $238.29 and a 200-day simple moving average of $166.73.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, November 4th. The software maker reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.56. Paycom Software had a net margin of 23.28% and a return on equity of 52.12%. The company had revenue of $543.80 million for the quarter, compared to the consensus estimate of $535.26 million. During the same period last year, the company earned $1.94 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. Equities research analysts predict that Paycom Software will post 10.92 earnings per share for the current year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Monday, November 23rd will be issued a dividend of $0.3750 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, November 23rd. Paycom Software’s payout ratio is presently 14.37%.

Insider Buying and Selling

In other Paycom Software news, insider Shane Hadlock sold 2,577 shares of Paycom Software stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $237.60, for a total transaction of $612,295.20. Following the completion of the transaction, the insider directly owned 70,152 shares of the company’s stock, valued at $16,668,115.20. The trade was a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 13.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Paycom Software

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TD Waterhouse Canada Inc. bought a new stake in shares of Paycom Software in the third quarter valued at about $25,000. Laurel Wealth Advisors LLC bought a new stake in Paycom Software during the third quarter worth about $28,000. Silver Grove Financial Group Inc. raised its stake in Paycom Software by 134.4% during the third quarter. Silver Grove Financial Group Inc. now owns 143 shares of the software maker’s stock worth $31,000 after acquiring an additional 82 shares in the last quarter. Provenance Wealth Advisors LLC acquired a new position in Paycom Software during the third quarter worth about $48,000. Finally, Elevation Wealth Partners LLC raised its stake in Paycom Software by 76.5% during the third quarter. Elevation Wealth Partners LLC now owns 233 shares of the software maker’s stock worth $51,000 after acquiring an additional 101 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

About Paycom Software

Paycom Software, Inc. provides cloud-based human capital management (HCM) software that helps employers manage payroll and related workforce processes through a unified platform. Its services support organizations throughout the employee life cycle, from hiring and onboarding to payroll, benefits administration, time and labor management, and talent management. The company’s platform includes employee self-service tools and Beti, a feature that enables employees to review and complete their own payroll.