Analysts Set Paycom Software, Inc. (NYSE:PAYC) Price Target at $246.31

Paycom Software, Inc. (NYSE:PAYC) has earned a consensus recommendation of “Hold” from the nineteen brokerages that are covering the company, Marketbeat Ratings reports. Sixteen analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $246.31.

PAYC has been the subject of a number of research analyst reports. Barclays lowered their price target on Paycom Software from $193.00 to $184.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. William Blair reiterated a “market perform” rating on shares of Paycom Software in a report on Thursday, May 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, May 2nd. BMO Capital Markets reduced their price objective on Paycom Software from $200.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd. Finally, StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, May 20th.

Insider Transactions at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $180.82, for a total transaction of $352,599.00. Following the sale, the chief executive officer now directly owns 3,091,958 shares of the company’s stock, valued at $559,087,845.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 5,850 shares of company stock valued at $1,048,223 over the last three months. Company insiders own 14.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Paycom Software by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 5,936,910 shares of the software maker’s stock valued at $1,227,278,000 after buying an additional 137,583 shares during the period. Sylebra Capital LLC acquired a new position in Paycom Software during the first quarter valued at $253,196,000. American Century Companies Inc. raised its position in Paycom Software by 18.8% during the third quarter. American Century Companies Inc. now owns 1,139,511 shares of the software maker’s stock valued at $295,441,000 after buying an additional 180,202 shares during the period. Brown Capital Management LLC increased its position in Paycom Software by 10.1% in 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 during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in Paycom Software by 7.9% in the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 977,055 shares of the software maker’s stock worth $182,426,000 after purchasing an additional 71,272 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Stock Down 1.9 %

PAYC stock opened at $170.68 on Friday. Paycom Software has a 52-week low of $146.15 and a 52-week high of $374.04. The stock’s 50 day moving average is $187.37 and its two-hundred day moving average is $188.96. The company has a market capitalization of $9.92 billion, a PE ratio of 20.79, a P/E/G ratio of 2.83 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last issued its quarterly 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 return on equity of 32.84% and a net margin of 26.91%. The business had revenue of $499.88 million during the quarter, compared to the consensus estimate of $495.89 million. As a group, sell-side analysts anticipate that Paycom Software will post 6.16 EPS for the current year.

Paycom Software Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Friday, May 24th. Paycom Software’s dividend payout ratio (DPR) is presently 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.