Paycom Software (NYSE:PAYC) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Paycom Software (NYSE:PAYC) from a hold rating to a buy rating in a report released on Friday morning.

Several other equities research analysts have also issued reports on the stock. BMO Capital Markets dropped their price objective on shares of Paycom Software from $200.00 to $190.00 and set a market perform rating for the company in a research report on Thursday. Barclays lowered their price objective on shares of Paycom Software from $193.00 to $184.00 and set an equal weight rating for the company in a research report on Thursday. UBS Group upped their target price on shares of Paycom Software from $235.00 to $250.00 and gave the company a buy rating in a research note on Wednesday, January 10th. Piper Sandler raised their price target on shares of Paycom Software from $185.00 to $190.00 and gave the company a neutral rating in a report on Thursday, February 8th. Finally, Jefferies Financial Group reiterated a hold rating and issued a $195.00 price objective on shares of Paycom Software in a report on Friday, January 5th. Sixteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Paycom Software currently has an average rating of Hold and an average price target of $247.25.

Paycom Software Price Performance

PAYC stock traded up $4.57 during trading on Friday, reaching $171.29. 1,207,026 shares of the stock traded hands, compared to its average volume of 838,850. The firm has a market capitalization of $9.86 billion, a PE ratio of 20.86, a P/E/G ratio of 2.84 and a beta of 1.17. The business’s 50 day moving average price is $189.34 and its 200-day moving average price is $194.47. Paycom Software has a 52-week low of $146.15 and a 52-week high of $374.04.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 32.84% and a net margin of 26.91%. The company’s revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.38 EPS. On average, equities research analysts predict that Paycom Software will post 5.73 earnings per share for the current year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Friday, May 24th. Paycom Software’s dividend payout ratio is presently 18.27%.

Hedge Funds Weigh In On Paycom Software

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new stake in shares of Paycom Software in the first quarter worth $26,000. Hexagon Capital Partners LLC grew its stake in Paycom Software by 333.3% during the 4th quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock valued at $27,000 after acquiring an additional 100 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its stake in Paycom Software by 83.5% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock valued at $40,000 after acquiring an additional 71 shares in the last quarter. Palisade Asset Management LLC acquired a new position in shares of Paycom Software in the 1st quarter valued at about $32,000. Finally, Transcendent Capital Group LLC purchased a new stake in shares of Paycom Software in the fourth quarter worth approximately $41,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

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.