UBS Group Cuts Paycom Software (NYSE:PAYC) Price Target to $285.00

Key Points

• UBS Group has lowered its price target for Paycom Software from $310.00 to $285.00, maintaining a "buy" rating, which suggests a potential upside of 32.69% from the last close.
• Several analysts have adjusted their price targets for Paycom Software, with estimates now ranging from $244.00 to $290.00, while the stock currently has a consensus rating of "Hold."
• Paycom reported $2.06 earnings per share for the last quarter, exceeding expectations and reflecting a 10.5% year-over-year revenue growth.

Paycom Software (NYSE:PAYC - Free Report) had its price objective lowered by UBS Group from $310.00 to $285.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the software maker's stock.

A number of other analysts have also recently commented on PAYC. JPMorgan Chase & Co. increased their price target on shares of Paycom Software from $215.00 to $235.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. BMO Capital Markets increased their price target on shares of Paycom Software from $244.00 to $258.00 and gave the company a "market perform" rating in a research note on Thursday, August 7th. KeyCorp increased their price target on shares of Paycom Software from $285.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Cantor Fitzgerald upgraded shares of Paycom Software to a "hold" rating in a research note on Thursday, September 11th. Finally, Barclays raised their target price on shares of Paycom Software from $240.00 to $250.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat, Paycom Software has a consensus rating of "Hold" and a consensus price target of $238.58.

Paycom Software Price Performance

PAYC stock traded up $1.91 during trading hours on Wednesday, reaching $216.64. The stock had a trading volume of 626,554 shares, compared to its average volume of 553,018. The stock has a market capitalization of $12.54 billion, a PE ratio of 29.32, a price-to-earnings-growth ratio of 2.36 and a beta of 0.81. The stock has a 50-day simple moving average of $225.76 and a 200 day simple moving average of $229.48. Paycom Software has a fifty-two week low of $158.03 and a fifty-two week high of $267.76.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.06 EPS for the quarter, beating analysts' consensus estimates of $1.78 by $0.28. The firm had revenue of $483.60 million during the quarter, compared to analysts' expectations of $472.00 million. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The company's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.62 earnings per share. On average, sell-side analysts forecast that Paycom Software will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 25th were paid a $0.375 dividend. The ex-dividend date was Monday, August 25th. This represents a $1.50 annualized dividend and a yield of 0.7%. Paycom Software's payout ratio is 20.30%.

Insiders Place Their Bets

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $223.27, for a total value of $334,905.00. Following the completion of the sale, the insider owned 24,533 shares in the company, valued at $5,477,482.91. The trade was a 5.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.90% of the stock is owned by company insiders.

Institutional Trading of Paycom Software

Several hedge funds and other institutional investors have recently bought and sold shares of PAYC. Brooklyn Investment Group grew its holdings in Paycom Software by 19.4% during the 1st quarter. Brooklyn Investment Group now owns 240 shares of the software maker's stock worth $52,000 after acquiring an additional 39 shares during the last quarter. Commerce Bank grew its holdings in Paycom Software by 2.2% during the 1st quarter. Commerce Bank now owns 2,351 shares of the software maker's stock worth $514,000 after acquiring an additional 50 shares during the last quarter. Allworth Financial LP grew its holdings in Paycom Software by 12.9% during the 1st quarter. Allworth Financial LP now owns 464 shares of the software maker's stock worth $105,000 after acquiring an additional 53 shares during the last quarter. US Bancorp DE grew its holdings in Paycom Software by 0.5% during the 1st quarter. US Bancorp DE now owns 10,421 shares of the software maker's stock worth $2,277,000 after acquiring an additional 57 shares during the last quarter. Finally, Salvus Wealth Management LLC grew its holdings in Paycom Software by 4.9% during the 1st quarter. Salvus Wealth Management LLC now owns 1,238 shares of the software maker's stock worth $270,000 after acquiring an additional 58 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

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.