Paycom Software (NYSE:PAYC) Price Target Raised to $250.00

Paycom Software (NYSE:PAYC) had its price target hoisted by Barclays from $210.00 to $250.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the software maker’s stock.

A number of other research analysts have also commented on PAYC. KeyCorp upped their price target on Paycom Software from $270.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, September 21st. UBS Group raised their price objective on shares of Paycom Software from $205.00 to $285.00 and gave the stock a “buy” rating in a research note on Tuesday, September 1st. Citigroup boosted their target price on shares of Paycom Software from $136.00 to $194.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Stifel Nicolaus upped their target price on shares of Paycom Software from $120.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, August 6th. Finally, BTIG Research upped their target price on shares of Paycom Software from $160.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $219.79.

Paycom Software Trading Up 5.4%

Paycom Software stock opened at $251.94 on Tuesday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.07 and a current ratio of 1.07. The business’s 50-day simple moving average is $226.04 and its 200-day simple moving average is $168.04. The firm has a market capitalization of $11.35 billion, a PE ratio of 27.57, a PEG ratio of 1.30 and a beta of 0.82. Paycom Software has a 52 week low of $104.90 and a 52 week high of $252.87.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.40. The business had revenue of $531.20 million during the quarter, compared to analysts’ expectations of $513.12 million. Paycom Software had a return on equity of 37.06% and a net margin of 22.78%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.06 EPS. Equities research analysts forecast that Paycom Software will post 10.64 earnings per share for the current year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th were given a $0.3750 dividend. The ex-dividend date was Monday, August 24th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.6%. Paycom Software’s dividend payout ratio (DPR) is currently 15.94%.

Insider Buying and Selling at Paycom Software

In other news, insider Shane Hadlock sold 241 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $240.07, for a total transaction of $57,856.87. Following the sale, the insider directly owned 69,911 shares in the company, valued at approximately $16,783,533.77. The trade was a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 13.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PAYC. Caitlin John LLC bought a new stake in Paycom Software in the 2nd quarter valued at $31,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Paycom Software during the 2nd quarter worth about $33,000. EFG International AG bought a new position in shares of Paycom Software during the 2nd quarter worth about $36,000. Trust Co. of Vermont acquired a new stake in shares of Paycom Software during the 2nd quarter valued at about $40,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of Paycom Software during the 2nd quarter valued at about $43,000. 87.77% of the stock is owned by institutional investors.

About Paycom Software

Paycom Software, Inc develops and provides cloud-based human capital management (HCM) software for businesses. Its platform is designed to help employers manage payroll and other workforce processes through a unified system, reducing the need for separate applications and manual data entry.

The company’s products and services include payroll processing, tax management, time and labor management, talent acquisition, onboarding, talent management, employee benefits administration, expense management, and workforce analytics.