Paycom Software, Inc. (NYSE:PAYC) Given Consensus Rating of “Hold” by Brokerages

Paycom Software, Inc. (NYSE:PAYC) has earned an average rating of “Hold” from the nineteen analysts that are presently covering the stock, Marketbeat reports. Sixteen investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $257.18.

Several research firms have commented on PAYC. UBS Group boosted their target price on Paycom Software from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. JPMorgan Chase & Co. raised their target price on shares of Paycom Software from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Piper Sandler boosted their price target on shares of Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Citigroup decreased their price objective on Paycom Software from $205.00 to $198.00 and set a “neutral” rating for the company in a report on Wednesday, January 31st. Finally, BTIG Research initiated coverage on Paycom Software in a research report on Tuesday, February 6th. They issued a “neutral” rating on the stock.

Hedge Funds Weigh In On Paycom Software

Several institutional investors and hedge funds have recently made changes to their positions in PAYC. UMB Bank n.a. lifted its holdings in shares of Paycom Software by 11,200.0% during the first quarter. UMB Bank n.a. now owns 452 shares of the software maker’s stock worth $90,000 after buying an additional 448 shares in the last quarter. Riverbridge Partners LLC increased its position in Paycom Software by 31.7% during the first quarter. Riverbridge Partners LLC now owns 618,570 shares of the software maker’s stock worth $123,102,000 after acquiring an additional 148,962 shares during the period. YHB Investment Advisors Inc. acquired a new stake in Paycom Software in the 1st quarter worth about $80,000. SYSTM Wealth Solutions LLC boosted its holdings in Paycom Software by 75.8% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 225 shares of the software maker’s stock valued at $45,000 after purchasing an additional 97 shares during the period. Finally, Mendota Financial Group LLC acquired a new position in shares of Paycom Software during the 1st quarter worth approximately $188,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Price Performance

Shares of Paycom Software stock opened at $188.89 on Tuesday. The company has a market capitalization of $10.87 billion, a P/E ratio of 32.02, a price-to-earnings-growth ratio of 3.18 and a beta of 1.17. The business has a 50-day moving average of $189.82 and a two-hundred day moving average of $197.06. Paycom Software has a 1 year low of $146.15 and a 1 year high of $374.04.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. The business had revenue of $434.60 million for the quarter, compared to analyst estimates of $422.50 million. Paycom Software had a net margin of 20.12% and a return on equity of 24.60%. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period last year, the business posted $1.38 earnings per share. On average, equities analysts anticipate that Paycom Software will post 5.73 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Friday, March 1st. Paycom Software’s payout ratio is 25.42%.

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.