Paycom Software, Inc. (NYSE:PAYC) Receives Consensus Recommendation of "Hold" from Brokerages

Paycom Software, Inc. (NYSE:PAYC - Get Free Report) has been given a consensus recommendation of "Hold" by the eleven ratings firms that are covering the firm, MarketBeat.com reports. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $226.90.

A number of research analysts have recently weighed in on the company. KeyCorp increased their price target on Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. BMO Capital Markets increased their target price on Paycom Software from $215.00 to $244.00 and gave the stock a "market perform" rating in a report on Thursday, May 8th. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a report on Thursday, May 8th. Wall Street Zen cut Paycom Software from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Finally, Piper Sandler raised their price objective on Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a report on Thursday, May 8th.

Insiders Place Their Bets

In other news, COO Randall Peck sold 890 shares of Paycom Software stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total value of $234,256.90. Following the completion of the sale, the chief operating officer now directly owns 49,394 shares in the company, valued at approximately $13,000,994.74. The trade was a 1.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Chad R. Richison sold 120,000 shares of Paycom Software stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $243.52, for a total transaction of $29,222,400.00. Following the completion of the transaction, the chief executive officer now directly owns 3,307,249 shares in the company, valued at $805,381,276.48. This trade represents a 3.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 172,016 shares of company stock worth $42,736,608 over the last three months. Insiders own 10.90% of the company's stock.

Institutional Trading of Paycom Software

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sylebra Capital LLC grew its stake in shares of Paycom Software by 63.8% during the fourth quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker's stock worth $658,996,000 after buying an additional 1,252,617 shares during the last quarter. FMR LLC increased its position 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 worth $491,201,000 after acquiring an additional 1,388,533 shares in the last quarter. Baillie Gifford & Co. grew its position in 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 purchasing an additional 1,505,990 shares in the last quarter. Geode Capital Management LLC grew its position in Paycom Software by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 1,516,768 shares of the software maker's stock worth $310,245,000 after purchasing an additional 89,848 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Paycom Software by 5.0% during the 1st quarter. Invesco Ltd. now owns 1,233,057 shares of the software maker's stock valued at $269,398,000 after acquiring an additional 58,176 shares during the period. Institutional investors own 87.77% of the company's stock.

Paycom Software Stock Performance

NYSE:PAYC opened at $231.84 on Friday. The stock's fifty day moving average price is $242.95 and its two-hundred day moving average price is $223.04. Paycom Software has a 52-week low of $139.50 and a 52-week high of $267.76. The company has a market cap of $13.41 billion, a price-to-earnings ratio of 33.07, a P/E/G ratio of 2.56 and a beta of 0.81.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.18. Paycom Software had a return on equity of 25.53% and a net margin of 20.60%. The firm had revenue of $530.50 million for the quarter, compared to the consensus estimate of $522.92 million. During the same quarter in the prior year, the business earned $2.59 EPS. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts predict that Paycom Software will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were given a dividend of $0.375 per share. The ex-dividend date was Tuesday, May 27th. This represents a $1.50 annualized dividend and a yield of 0.65%. Paycom Software's dividend payout ratio (DPR) is presently 21.40%.

Paycom Software Company Profile

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.

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