Wall Street Zen upgraded shares of Paycom Software (NYSE:PAYC – Free Report) from a hold rating to a buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.
PAYC has been the topic of several other reports. TD Cowen boosted their target price on Paycom Software from $244.00 to $286.00 and gave the stock a “buy” rating in a report on Friday, October 2nd. Barclays upped their price target on Paycom Software from $210.00 to $250.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 13th. Guggenheim increased their price target on Paycom Software from $225.00 to $300.00 and gave the company a “buy” rating in a report on Friday, October 23rd. Citigroup reduced their price objective on Paycom Software from $279.00 to $264.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Bank of America initiated coverage on Paycom Software in a research note on Tuesday, September 29th. They set an “underperform” rating and a $200.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Paycom Software has an average rating of “Hold” and an average price target of $255.36.
View Our Latest Report on PAYC
Paycom Software Price Performance
Shares of NYSE PAYC opened at $236.00 on Friday. The firm has a 50-day simple moving average of $238.23 and a 200-day simple moving average of $167.17. The stock has a market capitalization of $10.64 billion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 1.43 and a beta of 0.75. 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 has a 52 week low of $104.90 and a 52 week high of $275.22.
Paycom Software (NYSE:PAYC – Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The software maker reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.56. Paycom Software had a net margin of 23.28% and a return on equity of 47.97%. The firm had revenue of $543.80 million for the quarter, compared to analyst estimates of $535.26 million. During the same period in the previous year, the business posted $1.94 earnings per share. Paycom Software’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts predict that Paycom Software will post 10.92 earnings per share for the current fiscal year.
Paycom Software Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Monday, November 23rd will be given a dividend of $0.3750 per share. The ex-dividend date of this dividend is Monday, November 23rd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.6%. Paycom Software’s dividend payout ratio (DPR) is presently 14.37%.
Insider Buying and Selling at Paycom Software
In related news, insider Shane Hadlock sold 2,577 shares of Paycom Software stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $237.60, for a total value of $612,295.20. Following the completion of the sale, the insider owned 70,152 shares in the company, valued at approximately $16,668,115.20. This trade represents a 3.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 13.20% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Paycom Software in the 2nd quarter valued at $632,460,000. Bank of New York Mellon Corp purchased a new position in Paycom Software during the 2nd quarter valued at about $42,858,000. Equity Investment Corp purchased a new position in Paycom Software during the 2nd quarter valued at about $37,085,000. Bank of America Corp DE purchased a new position in Paycom Software during the 2nd quarter valued at about $34,146,000. Finally, Reinhart Partners LLC. grew its position in Paycom Software by 20.1% in the 2nd quarter. Reinhart Partners LLC. now owns 1,219,906 shares of the software maker’s stock valued at $153,320,000 after acquiring an additional 204,191 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.
About Paycom Software
Paycom Software, Inc provides cloud-based human capital management (HCM) software that helps employers manage payroll and related workforce processes through a unified platform. Its services support organizations throughout the employee life cycle, from hiring and onboarding to payroll, benefits administration, time and labor management, and talent management.
The company’s platform includes employee self-service tools and Beti, a feature that enables employees to review and complete their own payroll.
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