Paycom Software (NYSE:PAYC) Given New $188.00 Price Target at TD Cowen

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

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

Paycom Software Trading Down 0.2 %

PAYC stock opened at $167.46 on Monday. Paycom Software has a 12-month low of $139.50 and a 12-month high of $279.96. The business’s 50-day moving average is $162.82 and its 200 day moving average is $168.07. The stock 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 (NYSE:PAYC) last released its earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.07. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. The business had revenue of $437.51 million for the quarter, compared to the consensus estimate of $436.19 million. As a group, equities analysts forecast that Paycom Software will post 6.67 EPS for the current fiscal year.

Paycom Software Dividend Announcement

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

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $170.41, for a total transaction of $332,299.50. Following the transaction, the chief executive officer now directly owns 2,801,160 shares in the company, valued at $477,345,675.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Paycom Software news, CFO Craig E. Boelte sold 11,882 shares of Paycom Software 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 completion of the transaction, the chief financial officer now directly owns 294,849 shares of the company’s stock, valued at approximately $45,990,547.02. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $170.41, for a total transaction 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 disclosure for this sale can be found here. In the last quarter, insiders sold 73,856 shares of company stock worth $11,697,103. Insiders own 14.50% of the company’s stock.

Institutional Investors Weigh In On Paycom Software

Several large investors have recently added to or reduced their stakes in PAYC. Vanguard Group Inc. grew its stake in shares of Paycom Software by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 5,936,910 shares of the software maker’s stock worth $1,227,278,000 after acquiring an additional 137,583 shares in the last quarter. Sylebra Capital LLC grew its stake in Paycom Software by 53.9% during the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock worth $279,996,000 after purchasing an additional 685,190 shares in the last quarter. Brown Capital Management LLC grew its stake in Paycom Software by 10.1% during the 4th quarter. Brown Capital Management LLC now owns 1,106,045 shares of the software maker’s stock worth $228,642,000 after purchasing an additional 101,744 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in Paycom Software by 9.4% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker’s stock worth $152,925,000 after purchasing an additional 92,049 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Paycom Software by 14.5% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 626,646 shares of the software maker’s stock valued at $124,709,000 after purchasing an additional 79,299 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

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.