Paycom Software (NYSE:PAYC) Price Target Cut to $180.00 by Analysts at Mizuho

Paycom Software (NYSE:PAYC) had its target price cut by Mizuho from $220.00 to $180.00 in a report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the software maker’s stock.

PAYC has been the topic of several other reports. TD Cowen raised shares of Paycom Software from a “hold” rating to a “buy” rating and boosted their price objective for the company from $246.00 to $258.00 in a research report on Monday, September 22nd. Barclays dropped their price target on Paycom Software from $250.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. Guggenheim initiated coverage on Paycom Software in a report on Friday, September 26th. They set a “buy” rating and a $270.00 price objective for the company. Cantor Fitzgerald upgraded Paycom Software to a “hold” rating in a research note on Thursday, September 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Paycom Software in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $225.77.

Paycom Software Stock Performance

PAYC opened at $163.97 on Thursday. The firm’s fifty day moving average is $207.15 and its two-hundred day moving average is $226.49. The firm has a market cap of $9.49 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 2.03 and a beta of 0.88. Paycom Software has a twelve month low of $156.50 and a twelve month high of $267.76.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, November 5th. The software maker reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.02). The business had revenue of $493.30 million for the quarter, compared to the consensus estimate of $492.62 million. Paycom Software had a return on equity of 24.83% and a net margin of 22.65%.Paycom Software’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.67 earnings per share. Paycom Software has set its FY 2025 guidance at EPS. Equities analysts forecast that Paycom Software will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 8th. Stockholders of record on Monday, November 24th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, November 24th. Paycom Software’s dividend payout ratio is presently 20.30%.

Insider Activity at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $223.27, for a total value of $334,905.00. Following the completion of the transaction, the insider owned 24,533 shares of the company’s stock, valued at $5,477,482.91. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 10.90% of the company’s stock.

Hedge Funds Weigh In On Paycom Software

Several hedge funds and other institutional investors have recently made changes to their positions in PAYC. Baillie Gifford & Co. increased its stake in Paycom Software by 1,918.4% in the first quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker’s stock valued at $346,180,000 after acquiring an additional 1,505,990 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Paycom Software in the 1st quarter valued at $114,440,000. Allianz Asset Management GmbH raised its holdings in shares of Paycom Software by 10,106.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 486,957 shares of the software maker’s stock worth $101,355,000 after buying an additional 482,186 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of Paycom Software during the 2nd quarter worth $49,853,000. Finally, Vanguard Group Inc. boosted its stake in Paycom Software by 3.0% in the second quarter. Vanguard Group Inc. now owns 5,623,570 shares of the software maker’s stock valued at $1,301,294,000 after buying an additional 165,647 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

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.