TD Cowen Increases Paycom Software (NYSE:PAYC) Price Target to $188.00

Paycom Software (NYSE:PAYC) had its price objective hoisted by TD Cowen from $171.00 to $188.00 in a report published on Monday morning, Benzinga reports. They currently have a hold rating on the software maker’s stock.

A number of other analysts have also recently weighed in on the stock. Jefferies Financial Group lowered their price target on shares of Paycom Software from $170.00 to $145.00 and set a hold rating on the stock in a report on Monday, June 24th. Needham & Company LLC restated a hold rating on shares of Paycom Software in a research note on Thursday, August 1st. StockNews.com lowered shares of Paycom Software from a buy rating to a hold rating in a report on Monday, July 15th. Barclays increased their price objective on Paycom Software from $161.00 to $167.00 and gave the company an equal weight rating in a report on Thursday, August 1st. Finally, Citigroup dropped their target price on Paycom Software from $193.00 to $162.00 and set a neutral rating on the stock in a research note on Tuesday, June 18th. Seventeen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $179.75.

Paycom Software Stock Down 0.2 %

Shares of PAYC stock opened at $167.46 on Monday. The company’s 50 day moving average is $162.82 and its 200 day moving average is $168.07. The firm has a market cap of $9.73 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 2.44 and a beta of 1.17. Paycom Software has a 52-week low of $139.50 and a 52-week high of $279.96.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, July 31st. The software maker reported $1.20 EPS for the quarter, topping the consensus estimate of $1.13 by $0.07. The firm had revenue of $437.51 million during the quarter, compared to analyst estimates of $436.19 million. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. Analysts anticipate that Paycom Software will post 6.67 EPS for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were issued a $0.375 dividend. The ex-dividend date was Monday, August 26th. This represents a $1.50 annualized dividend and a yield of 0.90%. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $170.41, for a total value of $332,299.50. Following the sale, the chief executive officer now owns 2,801,160 shares in the company, valued at $477,345,675.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Craig E. Boelte sold 11,882 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $155.98, for a total value of $1,853,354.36. Following the sale, the chief financial officer now owns 294,849 shares in the company, valued at $45,990,547.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $170.41, for a total value of $332,299.50. Following the sale, the chief executive officer now directly owns 2,801,160 shares in the company, valued at $477,345,675.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,856 shares of company stock valued at $11,697,103. 14.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Paycom Software

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new position in shares of Paycom Software in the 2nd quarter valued at $856,000. KPP Advisory Services LLC increased its holdings in Paycom Software by 31.5% in the second quarter. KPP Advisory Services LLC now owns 3,482 shares of the software maker’s stock valued at $498,000 after buying an additional 834 shares in the last quarter. Aurora Investment Counsel raised its position in shares of Paycom Software by 7.0% in the second quarter. Aurora Investment Counsel now owns 13,209 shares of the software maker’s stock worth $1,889,000 after acquiring an additional 865 shares during the period. Cetera Investment Advisers boosted its stake in shares of Paycom Software by 49.0% during the 2nd quarter. Cetera Investment Advisers now owns 26,878 shares of the software maker’s stock worth $3,845,000 after acquiring an additional 8,836 shares in the last quarter. Finally, Truist Financial Corp grew its position in shares of Paycom Software by 43.8% during the 2nd quarter. Truist Financial Corp now owns 93,353 shares of the software maker’s stock valued at $13,353,000 after acquiring an additional 28,426 shares during the period. 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.