Paycom Software (NYSE:PAYC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Paycom Software (NYSE:PAYC) from a hold rating to a buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Several other equities research analysts also recently weighed in on PAYC. Barclays increased their target price on shares of Paycom Software from $154.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 6th. Guggenheim upped their price objective on Paycom Software from $180.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Citigroup upped their price objective on shares of Paycom Software from $136.00 to $194.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Mizuho increased their target price on Paycom Software from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings upgraded shares of Paycom Software from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $208.08.

Paycom Software Trading Up 0.2%

NYSE:PAYC opened at $239.06 on Friday. The company has a market capitalization of $10.77 billion, a PE ratio of 25.40, a P/E/G ratio of 1.32 and a beta of 0.75. Paycom Software has a 52-week low of $104.90 and a 52-week high of $242.50. The stock’s 50 day moving average price is $173.53 and its 200 day moving average price is $144.39. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.57.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.40. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The business had revenue of $531.20 million for the quarter, compared to analyst estimates of $513.12 million. During the same period last year, the firm posted $2.06 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, research analysts anticipate that Paycom Software will post 10.65 EPS for the current year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 24th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.50 annualized dividend and a yield of 0.6%. Paycom Software’s payout ratio is presently 15.94%.

Insider Buying and Selling at Paycom Software

In related news, insider Terrell Shane Hadlock sold 2,577 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $237.60, for a total transaction of $612,295.20. Following the transaction, the insider owned 70,152 shares of the company’s stock, valued at approximately $16,668,115.20. This represents a 3.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 13.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Paycom Software

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Corient Private Wealth LP lifted its position in Paycom Software by 372.7% during the second quarter. Corient Private Wealth LP now owns 86,007 shares of the software maker’s stock worth $10,809,000 after buying an additional 67,811 shares during the period. HighTower Advisors LLC increased its stake in shares of Paycom Software by 16.4% during the 2nd quarter. HighTower Advisors LLC now owns 5,960 shares of the software maker’s stock valued at $749,000 after acquiring an additional 839 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Paycom Software during the 2nd quarter worth about $4,411,000. California State Teachers Retirement System boosted its position in shares of Paycom Software by 9,363.4% in the second quarter. California State Teachers Retirement System now owns 5,681,993 shares of the software maker’s stock worth $714,113,000 after acquiring an additional 5,621,951 shares during the last quarter. Finally, AlphaGrep UK Ltd purchased a new stake in Paycom Software in the second quarter valued at approximately $266,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

About Paycom Software

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.