Paycom Software, Inc. (NYSE:PAYC) Receives Average Rating of “Hold” from Analysts

Shares of Paycom Software, Inc. (NYSE:PAYC) have been given a consensus recommendation of “Hold” by the seventeen brokerages that are currently covering the stock, Marketbeat Ratings reports. Sixteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $179.75.

A number of analysts have recently weighed in on the stock. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Citigroup decreased their target price on Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. Barclays upped their price target on Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. TD Cowen lifted their price objective on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday. Finally, Jefferies Financial Group dropped their price objective on Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, June 24th.

Insider Transactions at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $140.20, for a total transaction of $273,390.00. Following the completion of the sale, the chief executive officer now owns 3,023,708 shares of the company’s stock, valued at $423,923,861.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $140.20, for a total transaction of $273,390.00. Following the completion of the sale, the chief executive officer now owns 3,023,708 shares of the company’s stock, valued at $423,923,861.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bradley Scott Smith sold 1,524 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $157.62, for a total transaction of $240,212.88. Following the sale, the insider now directly owns 14,769 shares of the company’s stock, valued at approximately $2,327,889.78. The disclosure for this sale can be found here. Insiders sold a total of 73,856 shares of company stock valued at $11,641,723 in the last three months. 14.50% of the stock is currently owned by company insiders.

Institutional Trading of Paycom Software

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new position in Paycom Software during the second quarter worth about $856,000. KPP Advisory Services LLC boosted its position in shares of Paycom Software by 31.5% during the 2nd quarter. KPP Advisory Services LLC now owns 3,482 shares of the software maker’s stock worth $498,000 after purchasing an additional 834 shares during the period. Aurora Investment Counsel boosted its position in shares of Paycom Software by 7.0% during the 2nd quarter. Aurora Investment Counsel now owns 13,209 shares of the software maker’s stock worth $1,889,000 after purchasing an additional 865 shares during the period. Cetera Investment Advisers increased its holdings in Paycom Software by 49.0% in the 2nd quarter. Cetera Investment Advisers now owns 26,878 shares of the software maker’s stock valued at $3,845,000 after purchasing an additional 8,836 shares during the last quarter. Finally, Truist Financial Corp raised its position in Paycom Software by 43.8% in the second quarter. Truist Financial Corp now owns 93,353 shares of the software maker’s stock valued at $13,353,000 after purchasing an additional 28,426 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $173.72 on Friday. Paycom Software has a 1-year low of $139.50 and a 1-year high of $279.96. The stock has a market capitalization of $10.09 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 2.39 and a beta of 1.17. The company has a 50 day moving average price of $162.68 and a 200 day moving average price of $168.07.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, July 31st. The software maker reported $1.20 earnings per share (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 the consensus estimate of $436.19 million. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. On average, sell-side analysts expect that Paycom Software will post 6.67 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 26th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.86%. The ex-dividend date was Monday, August 26th. Paycom Software’s payout ratio is currently 18.27%.

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.