Paycom Software (NYSE:PAYC) Price Target Raised to $280.00

Paycom Software (NYSE:PAYC) had its price objective increased by KeyCorp from $270.00 to $280.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the software maker’s stock.

Several other equities research analysts also recently weighed in on PAYC. Barclays increased their price target on Paycom Software from $154.00 to $210.00 and gave the stock an “equal weight” rating in a report 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 report on Thursday, August 6th. UBS Group increased their target price on Paycom Software from $205.00 to $285.00 and gave the stock a “buy” rating in a research note on Tuesday, September 1st. Cantor Fitzgerald lifted their target price on Paycom Software from $135.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Finally, BMO Capital Markets boosted their target price on shares of Paycom Software from $145.00 to $208.00 and gave the company a “market perform” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Paycom Software currently has an average rating of “Hold” and an average target price of $215.00.

Paycom Software Price Performance

PAYC stock opened at $222.19 on Monday. The stock has a market cap of $10.01 billion, a PE ratio of 23.61, a P/E/G ratio of 1.25 and a beta of 0.78. Paycom Software has a 12 month low of $104.90 and a 12 month high of $244.98. The company has a 50-day moving average price of $204.41 and a 200 day moving average price of $156.60. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.57.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 earnings per share 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 company had revenue of $531.20 million for the quarter, compared to analyst estimates of $513.12 million. During the same period in the prior year, the company posted $2.06 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities research analysts anticipate that Paycom Software will post 10.64 earnings per share for the current year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 24th were paid a $0.375 dividend. The ex-dividend date of this dividend was Monday, August 24th. This represents a $1.50 annualized dividend and a yield of 0.7%. Paycom Software’s dividend payout ratio is 15.94%.

Insider Buying and Selling

In other Paycom Software news, insider Shane Hadlock sold 2,577 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $237.60, for a total transaction of $612,295.20. Following the transaction, the insider directly owned 70,152 shares in the company, valued at $16,668,115.20. This trade represents a 3.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 13.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Paycom Software

Several hedge funds have recently made changes to their positions in PAYC. Clearstead Advisors LLC raised its holdings in shares of Paycom Software by 140.3% in the fourth quarter. Clearstead Advisors LLC now owns 161 shares of the software maker’s stock valued at $26,000 after acquiring an additional 94 shares in the last quarter. Caitlin John LLC purchased a new stake in Paycom Software in the second quarter worth about $31,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Paycom Software during the 2nd quarter worth about $33,000. EFG International AG bought a new position in Paycom Software during the 2nd quarter worth about $36,000. Finally, Trust Co. of Vermont purchased a new position in Paycom Software during the 2nd quarter valued at about $40,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Company Profile

Paycom Software, Inc is a provider of cloud-based payroll and human capital management (HCM) software for businesses. Its platform is designed to help organizations manage employee data and payroll processes through a unified system, serving small, midsize and larger employers primarily in the United States.

The company’s products and services include payroll processing, tax management, time and labor management, talent acquisition, onboarding, employee learning, performance management, compensation planning, benefits administration, expense management and compliance tools.