Paycom Software (NYSE:PAYC) Price Target Raised to $244.00

Paycom Software (NYSE:PAYC - Free Report) had its price target raised by BMO Capital Markets from $215.00 to $244.00 in a research report report published on Thursday, Marketbeat.com reports. The firm currently has a market perform rating on the software maker's stock.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus dropped their target price on shares of Paycom Software from $215.00 to $187.00 and set a "hold" rating on the stock in a research report on Thursday, February 13th. Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a research report on Thursday, February 13th. StockNews.com cut Paycom Software from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. increased their price objective on Paycom Software from $185.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Finally, Barclays decreased their target price on Paycom Software from $229.00 to $221.00 and set an "equal weight" rating for the company in a report on Thursday, January 23rd. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $226.90.

Paycom Software Stock Up 1.4 %

Shares of NYSE PAYC traded up $3.60 during midday trading on Thursday, reaching $252.95. 730,359 shares of the company's stock traded hands, compared to its average volume of 701,815. The company has a market cap of $14.63 billion, a price-to-earnings ratio of 28.42, a P/E/G ratio of 2.40 and a beta of 0.80. Paycom Software has a one year low of $139.50 and a one year high of $255.12. The stock's 50 day simple moving average is $217.84 and its 200-day simple moving average is $214.97.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, beating the consensus estimate of $2.62 by $0.18. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The business had revenue of $530.50 million during the quarter, compared to analyst estimates of $522.92 million. During the same period in the prior year, the firm posted $2.59 earnings per share. The company's quarterly revenue was up 6.1% on a year-over-year basis. Equities analysts predict that Paycom Software will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.59%. Paycom Software's payout ratio is 16.85%.

Insider Activity at Paycom Software

In related news, insider Bradley Scott Smith sold 3,000 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $201.01, for a total value of $603,030.00. Following the completion of the transaction, the insider now owns 28,733 shares of the company's stock, valued at approximately $5,775,620.33. This represents a 9.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Chad R. Richison sold 120,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $243.52, for a total value of $29,222,400.00. Following the completion of the sale, the chief executive officer now directly owns 3,307,249 shares in the company, valued at approximately $805,381,276.48. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,100 shares of company stock worth $30,698,424 in the last three months. Company insiders own 10.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Private Trust Co. NA lifted its holdings in Paycom Software by 9.3% during the fourth quarter. Private Trust Co. NA now owns 575 shares of the software maker's stock valued at $118,000 after purchasing an additional 49 shares in the last quarter. Commerce Bank boosted its holdings in Paycom Software by 2.2% in the 1st quarter. Commerce Bank now owns 2,351 shares of the software maker's stock worth $514,000 after buying an additional 50 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Paycom Software by 1.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker's stock worth $602,000 after buying an additional 51 shares during the last quarter. Allworth Financial LP increased its stake 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 buying an additional 53 shares in the last quarter. Finally, US Bancorp DE raised its holdings in shares of Paycom Software by 0.5% during the first quarter. US Bancorp DE now owns 10,421 shares of the software maker's stock valued at $2,277,000 after acquiring an additional 57 shares during the last quarter. Hedge funds and other institutional investors 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.