Paycom Software (NYSE:PAYC) Cut to Hold at StockNews.com

StockNews.com lowered shares of Paycom Software (NYSE:PAYC) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Several other analysts have also commented on PAYC. Needham & Company LLC reissued a hold rating on shares of Paycom Software in a research note on Thursday, May 2nd. Piper Sandler raised their price objective on Paycom Software from $185.00 to $190.00 and gave the stock a neutral rating in a research note on Thursday, February 8th. Citigroup reduced their target price on Paycom Software from $196.00 to $193.00 and set a neutral rating for the company in a report on Thursday, May 2nd. Barclays dropped their price target on Paycom Software from $193.00 to $184.00 and set an equal weight rating on the stock in a research report on Thursday, May 2nd. Finally, BMO Capital Markets reduced their price objective on Paycom Software from $200.00 to $190.00 and set a market perform rating for the company in a research report on Thursday, May 2nd. Seventeen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $246.31.

Paycom Software Stock Up 0.2 %

NYSE:PAYC opened at $174.51 on Friday. The business’s 50-day moving average price is $188.40 and its 200 day moving average price is $189.45. Paycom Software has a 52-week low of $146.15 and a 52-week high of $374.04. The firm has a market cap of $10.14 billion, a P/E ratio of 21.26, a PEG ratio of 2.72 and a beta of 1.17.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, May 24th. Paycom Software’s dividend payout ratio is presently 18.27%.

Institutional Trading of Paycom Software

Hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James & Associates lifted its position in Paycom Software by 18.4% in the 3rd quarter. Raymond James & Associates now owns 12,450 shares of the software maker’s stock valued at $3,228,000 after acquiring an additional 1,935 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Paycom Software by 5.1% in the 3rd quarter. Mackenzie Financial Corp now owns 4,377 shares of the software maker’s stock worth $1,145,000 after buying an additional 214 shares during the last quarter. Advisor Partners II LLC increased its stake in shares of Paycom Software by 37.8% during the 3rd quarter. Advisor Partners II LLC now owns 1,182 shares of the software maker’s stock worth $306,000 after purchasing an additional 324 shares during the last quarter. Park Avenue Securities LLC bought a new stake in shares of Paycom Software in the third quarter valued at $1,322,000. Finally, Assetmark Inc. lifted its holdings in Paycom Software by 4.9% during the third quarter. Assetmark Inc. now owns 17,288 shares of the software maker’s stock valued at $4,482,000 after purchasing an additional 807 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

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.