Paycom Software (NYSE:PAYC) Price Target Cut to $187.00 by Analysts at Stifel Nicolaus

Paycom Software (NYSE:PAYC) had its target price lowered by Stifel Nicolaus from $215.00 to $187.00 in a report released on Thursday,Benzinga reports. The firm currently has a hold rating on the software maker’s stock.

Other research analysts have also recently issued research reports about the company. TD Cowen raised their price target on Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Barclays decreased their price objective on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. BMO Capital Markets increased their price objective on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Piper Sandler increased their price objective on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, StockNews.com raised Paycom Software from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $205.56.

Paycom Software Stock Up 2.5 %

Shares of PAYC stock opened at $212.23 on Thursday. Paycom Software has a fifty-two week low of $139.50 and a fifty-two week high of $242.74. The stock has a market cap of $12.24 billion, a P/E ratio of 25.54, a P/E/G ratio of 2.81 and a beta of 1.15. The business has a fifty day simple moving average of $211.23 and a 200-day simple moving average of $191.38.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share 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, sell-side analysts anticipate that Paycom Software will post 6.88 earnings per share for the current year.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Monday, March 10th. Paycom Software’s payout ratio is 18.05%.

Institutional Trading of Paycom Software

A number of hedge funds have recently added to or reduced their stakes in the business. GKV Capital Management Co. Inc. acquired a new stake in Paycom Software in the 4th quarter worth about $328,000. Farringdon Capital Ltd. acquired a new position in shares of Paycom Software in the 4th quarter valued at about $396,000. Lafayette Investments Inc. lifted its stake in shares of Paycom Software by 1.1% in the 4th quarter. Lafayette Investments Inc. now owns 27,842 shares of the software maker’s stock valued at $5,707,000 after purchasing an additional 303 shares in the last quarter. Guggenheim Capital LLC lifted its stake in shares of Paycom Software by 48.0% in the 4th quarter. Guggenheim Capital LLC now owns 5,577 shares of the software maker’s stock valued at $1,143,000 after purchasing an additional 1,808 shares in the last quarter. Finally, Aware Super Pty Ltd as trustee of Aware Super acquired a new position in shares of Paycom Software in the 4th quarter valued at about $19,478,000. 87.77% of the stock is owned by institutional investors and hedge funds.

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.