Paycom Software, Inc. (NYSE:PAYC) Stock Has Consensus Target Price of $216.93

Paycom Software, Inc. (NYSE:PAYC) has received a consensus rating of “Hold” from the sixteen brokerages that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $219.79.

Several brokerages have weighed in on PAYC. BTIG Research lifted their target price on Paycom Software from $160.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Zacks Research cut Paycom Software from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Barclays increased their price target on Paycom Software from $210.00 to $250.00 and gave the stock an “equal weight” rating in a report on Tuesday. JPMorgan Chase & Co. increased their price target on Paycom Software from $140.00 to $264.00 and gave the stock a “neutral” rating in a report on Tuesday, August 25th. Finally, UBS Group lifted their price objective on shares of Paycom Software from $205.00 to $285.00 and gave the company a “buy” rating in a research report on Tuesday, September 1st.

Insider Activity at Paycom Software

In other news, insider Shane Hadlock sold 241 shares of the firm’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $240.07, for a total value of $57,856.87. Following the completion of the sale, the insider owned 69,911 shares in the company, valued at approximately $16,783,533.77. This trade represents a 0.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 13.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. TD Waterhouse Canada Inc. acquired a new stake in Paycom Software in the third quarter valued at about $25,000. Cyndeo Wealth Partners LLC acquired a new position in Paycom Software during the 3rd quarter worth approximately $232,000. Fortitude Family Office LLC raised its stake in shares of Paycom Software by 10,933.3% during the 3rd quarter. Fortitude Family Office LLC now owns 331 shares of the software maker’s stock worth $72,000 after buying an additional 328 shares in the last quarter. Focus Financial Network Inc. purchased a new position in shares of Paycom Software during the 3rd quarter worth approximately $238,000. Finally, Krilogy Financial LLC purchased a new position in shares of Paycom Software during the 3rd quarter worth approximately $436,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Stock Performance

NYSE PAYC traded down $1.26 during trading on Friday, reaching $251.61. The company’s stock had a trading volume of 646,570 shares, compared to its average volume of 661,108. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $11.34 billion, a price-to-earnings ratio of 26.74, a P/E/G ratio of 1.37 and a beta of 0.82. Paycom Software has a twelve month low of $104.90 and a twelve month high of $256.60. The business’s fifty day moving average price is $226.79 and its 200-day moving average price is $168.62.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.40. The business had revenue of $531.20 million during the quarter, compared to the consensus estimate of $513.12 million. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.06 earnings per share. As a group, analysts anticipate that Paycom Software will post 10.64 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th were given a dividend of $0.3750 per share. The ex-dividend date was Monday, August 24th. This represents a $1.50 dividend on an annualized basis and a yield of 0.6%. Paycom Software’s dividend payout ratio is presently 15.94%.

About Paycom Software

Paycom Software, Inc develops and provides cloud-based human capital management (HCM) software for businesses. Its platform is designed to help employers manage payroll and other workforce processes through a unified system, reducing the need for separate applications and manual data entry.

The company’s products and services include payroll processing, tax management, time and labor management, talent acquisition, onboarding, talent management, employee benefits administration, expense management, and workforce analytics.