Analysts Set Paycom Software, Inc. (NYSE:PAYC) PT at $262.33

Paycom Software, Inc. (NYSE:PAYC - Get Free Report) has earned a consensus rating of "Hold" from the twenty ratings firms that are currently covering the stock, MarketBeat Ratings reports. Sixteen analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $262.33.

Several equities analysts recently commented on the stock. Piper Sandler increased their target price 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. JPMorgan Chase & Co. increased their target price on shares of Paycom Software from $140.00 to $165.00 and gave the company a "neutral" rating in a report on Thursday, February 8th. Citigroup reduced their target price on shares of Paycom Software from $205.00 to $198.00 and set a "neutral" rating on the stock in a report on Wednesday, January 31st. UBS Group increased their target price on shares of Paycom Software from $235.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, January 10th. Finally, BTIG Research began coverage on shares of Paycom Software in a report on Tuesday, February 6th. They issued a "neutral" rating on the stock.

Paycom Software Stock Performance

NYSE PAYC traded up $1.79 on Friday, hitting $199.01. The stock had a trading volume of 750,657 shares, compared to its average volume of 785,076. The firm has a 50-day moving average of $189.61 and a 200-day moving average of $207.72. The company has a market capitalization of $11.45 billion, a price-to-earnings ratio of 33.73, a price-to-earnings-growth ratio of 3.36 and a beta of 1.16. Paycom Software has a 52-week low of $146.15 and a 52-week high of $374.04.

Paycom Software (NYSE:PAYC - Get Free Report) last posted 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 firm had revenue of $434.60 million for the quarter, compared to analysts' expectations of $422.50 million. Paycom Software had a net margin of 20.12% and a return on equity of 24.60%. The business's quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the company posted $1.38 EPS. As a group, research analysts anticipate that Paycom Software will post 5.73 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were issued a dividend of $0.375 per share. The ex-dividend date was Friday, March 1st. This represents a $1.50 annualized dividend and a dividend yield of 0.75%. Paycom Software's payout ratio is 25.42%.

Institutional Trading of Paycom Software

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB increased its holdings in Paycom Software by 8.8% during the third quarter. Nordea Investment Management AB now owns 261,428 shares of the software maker's stock valued at $68,912,000 after buying an additional 21,095 shares during the last quarter. US Bancorp DE increased its stake in shares of Paycom Software by 25.8% in the third quarter. US Bancorp DE now owns 91,950 shares of the software maker's stock worth $23,840,000 after purchasing an additional 18,857 shares in the last quarter. Barclays PLC increased its stake in shares of Paycom Software by 12.6% in the third quarter. Barclays PLC now owns 125,514 shares of the software maker's stock worth $32,543,000 after purchasing an additional 14,053 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of Paycom Software by 19.8% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 854,904 shares of the software maker's stock worth $221,651,000 after purchasing an additional 141,464 shares in the last quarter. Finally, DSM Capital Partners LLC purchased a new stake in shares of Paycom Software in the third quarter worth $60,077,000. 87.77% of the stock is 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.