Paycom Software, Inc. (NYSE:PAYC) Receives $212.80 Average PT from Analysts

Paycom Software, Inc. (NYSE:PAYC - Get Free Report) has earned a consensus rating of "Hold" from the eleven brokerages that are covering the stock, MarketBeat.com reports. Ten investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $219.70.

A number of brokerages have weighed in on PAYC. Citigroup decreased their target price on shares of Paycom Software from $234.00 to $221.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a research report on Thursday. Piper Sandler raised their target price on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research report on Thursday. Stifel Nicolaus boosted their price target on Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research note on Thursday. Finally, KeyCorp upgraded shares of Paycom Software from a "sector weight" rating to an "overweight" rating and set a $245.00 price objective on the stock in a research note on Monday, March 10th.

Insider Buying and Selling

In other news, Director J C. Watts, Jr. sold 500 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $218.22, for a total transaction of $109,110.00. Following the completion of the transaction, the director now directly owns 7,730 shares in the company, valued at approximately $1,686,840.60. This represents a 6.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $201.01, for a total transaction of $603,030.00. Following the completion of the sale, the insider now owns 28,733 shares in the company, valued at approximately $5,775,620.33. This trade represents a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,100 shares of company stock valued at $1,476,024. Corporate insiders own 10.90% of the company's stock.

Institutional Trading of Paycom Software

A number of institutional investors have recently bought and sold shares of the stock. Baillie Gifford & Co. lifted its holdings in shares of Paycom Software by 1,918.4% in the 1st quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker's stock worth $346,180,000 after acquiring an additional 1,505,990 shares during the last quarter. FMR LLC grew its stake in shares of Paycom Software by 137.8% during the fourth quarter. FMR LLC now owns 2,396,452 shares of the software maker's stock valued at $491,201,000 after buying an additional 1,388,533 shares during the last quarter. Sylebra Capital LLC lifted its stake in shares of Paycom Software by 63.8% during the 4th quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker's stock worth $658,996,000 after acquiring an additional 1,252,617 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Paycom Software by 1,153.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker's stock worth $82,375,000 after purchasing an additional 369,825 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Paycom Software during the 4th quarter worth $63,923,000. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Price Performance

Shares of Paycom Software stock traded up $15.26 during trading on Friday, hitting $243.93. 284,673 shares of the company's stock traded hands, compared to its average volume of 694,737. Paycom Software has a 1 year low of $139.50 and a 1 year high of $247.06. The business has a 50-day simple moving average of $216.54 and a 200-day simple moving average of $213.46. The stock has a market capitalization of $14.11 billion, a P/E ratio of 27.41, a PEG ratio of 2.40 and a beta of 0.80.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.62 by $0.18. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The firm had revenue of $530.50 million for the quarter, compared to the consensus estimate of $522.92 million. During the same quarter last year, the firm posted $2.59 EPS. The business's quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities analysts predict that Paycom Software will post 7.15 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 9th. Investors of record on Tuesday, May 27th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Tuesday, May 27th. Paycom Software's dividend payout ratio is currently 16.85%.

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.