Paycom Software (NYSE:PAYC) Price Target Increased to $175.00 by Analysts at JPMorgan Chase & Co.

Paycom Software (NYSE:PAYC) had its price target boosted by JPMorgan Chase & Co. from $165.00 to $175.00 in a report issued on Thursday, Benzinga reports. They currently have a neutral rating on the software maker’s stock.

PAYC has been the subject of several other reports. UBS Group boosted their target price on shares of Paycom Software from $235.00 to $250.00 and gave the company a buy rating in a research report on Wednesday, January 10th. BTIG Research initiated coverage on Paycom Software in a research note on Tuesday, February 6th. They set a neutral rating for the company. Citigroup decreased their price target on Paycom Software from $205.00 to $198.00 and set a neutral rating on the stock in a research note on Wednesday, January 31st. Jefferies Financial Group restated a hold rating and set a $195.00 price objective on shares of Paycom Software in a research report on Friday, January 5th. Finally, Needham & Company LLC reiterated a hold rating on shares of Paycom Software in a research report on Thursday. Sixteen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $247.25.

Paycom Software Price Performance

Shares of NYSE:PAYC opened at $171.29 on Thursday. The business’s 50 day simple moving average is $189.34 and its 200 day simple moving average is $193.90. Paycom Software has a 1 year low of $146.15 and a 1 year high of $374.04. The company has a market capitalization of $9.86 billion, a P/E ratio of 20.86, a P/E/G ratio of 2.92 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. The firm had revenue of $434.60 million during the quarter, compared to the consensus estimate of $422.50 million. During the same period in the prior year, the company posted $1.38 EPS. The company’s revenue was up 17.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Paycom Software will post 5.82 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th will be issued a dividend of $0.375 per share. The ex-dividend date is Friday, May 24th. This represents a $1.50 annualized dividend and a yield of 0.88%. Paycom Software’s payout ratio is 18.27%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Mather Group LLC. acquired a new position in shares of Paycom Software in the 1st quarter valued at about $26,000. Hexagon Capital Partners LLC lifted its stake in Paycom Software by 333.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock valued at $27,000 after buying an additional 100 shares during the period. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Paycom Software by 83.5% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock worth $40,000 after buying an additional 71 shares in the last quarter. Palisade Asset Management LLC acquired a new stake in shares of Paycom Software during the 1st quarter worth approximately $32,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of Paycom Software in the 4th quarter valued at $41,000. 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.