Paycom Software (NYSE:PAYC) Downgraded to “Hold” at StockNews.com

StockNews.com cut shares of Paycom Software (NYSE:PAYC) from a buy rating to a hold rating in a research report released on Monday.

Several other brokerages have also recently commented on PAYC. JPMorgan Chase & Co. raised their target price on shares of Paycom Software from $165.00 to $175.00 and gave the stock a neutral rating in a report on Thursday, May 2nd. Needham & Company LLC reiterated a hold rating on shares of Paycom Software in a research report on Thursday, May 2nd. Citigroup lowered their price objective on Paycom Software from $196.00 to $193.00 and set a neutral rating for the company in a research report on Thursday, May 2nd. Piper Sandler raised their price target on shares of Paycom Software from $185.00 to $190.00 and gave the stock a neutral rating in a report on Thursday, February 8th. Finally, Mizuho reduced their price objective on shares of Paycom Software from $185.00 to $170.00 and set a neutral rating on the stock in a research note on Monday, May 6th. Seventeen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Paycom Software presently has a consensus rating of Hold and an average target price of $246.31.

Paycom Software Stock Down 3.5 %

NYSE:PAYC opened at $174.43 on Monday. Paycom Software has a twelve month low of $146.15 and a twelve month high of $374.04. The company has a market cap of $10.14 billion, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 2.82 and a beta of 1.17. The business has a 50 day moving average price of $187.75 and a two-hundred day moving average price of $188.89.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, May 1st. The software maker reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $2.29. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. The business had revenue of $499.88 million during the quarter, compared to the consensus estimate of $495.89 million. As a group, analysts anticipate that Paycom Software will post 6.16 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th will be given 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 of this dividend is Friday, May 24th. Paycom Software’s dividend payout ratio is presently 18.27%.

Insider Transactions at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $179.78, for a total value of $350,571.00. Following the transaction, the chief executive officer now directly owns 3,090,008 shares in the company, valued at $555,521,638.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 14.50% of the company’s stock.

Hedge Funds Weigh In On Paycom Software

Several institutional investors have recently bought and sold shares of PAYC. Raymond James & Associates increased its position in Paycom Software by 18.4% in the third quarter. Raymond James & Associates now owns 12,450 shares of the software maker’s stock worth $3,228,000 after buying an additional 1,935 shares during the last quarter. Panagora Asset Management Inc. grew its stake in shares of Paycom Software by 4.1% during the 3rd quarter. Panagora Asset Management Inc. now owns 2,356 shares of the software maker’s stock worth $611,000 after acquiring an additional 93 shares during the period. New Mexico Educational Retirement Board increased its holdings in Paycom Software by 8.5% in the 3rd quarter. New Mexico Educational Retirement Board now owns 2,550 shares of the software maker’s stock worth $661,000 after acquiring an additional 200 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Paycom Software by 1.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 5,282 shares of the software maker’s stock valued at $1,369,000 after acquiring an additional 91 shares during the period. Finally, Empirical Finance LLC lifted its holdings in Paycom Software by 11.5% during the third quarter. Empirical Finance LLC now owns 1,579 shares of the software maker’s stock valued at $409,000 after purchasing an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

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.