Brokerages Set Paycom Software, Inc. (NYSE:PAYC) PT at $243.69

Paycom Software, Inc. (NYSE:PAYC) has earned an average rating of “Hold” from the sixteen brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $243.6923.

PAYC has been the subject of several recent analyst reports. TD Cowen upgraded shares of Paycom Software from a “hold” rating to a “buy” rating and upped their target price for the stock from $246.00 to $258.00 in a research report on Monday, September 22nd. KeyCorp upped their target price on shares of Paycom Software from $285.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Weiss Ratings restated a “hold (c)” rating on shares of Paycom Software in a research report on Wednesday, October 8th. BMO Capital Markets upped their target price on shares of Paycom Software from $244.00 to $258.00 and gave the stock a “market perform” rating in a research report on Thursday, August 7th. Finally, UBS Group decreased their target price on shares of Paycom Software from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, September 17th.

Paycom Software Stock Up 0.4%

PAYC opened at $200.24 on Friday. The firm has a market cap of $11.59 billion, a price-to-earnings ratio of 27.10, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82. Paycom Software has a fifty-two week low of $165.18 and a fifty-two week high of $267.76. The company’s 50-day moving average price is $214.19 and its 200 day moving average price is $228.36.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, August 6th. The software maker reported $2.06 EPS for the quarter, topping the consensus estimate of $1.78 by $0.28. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The firm had revenue of $483.60 million during the quarter, compared to analysts’ expectations of $472.00 million. During the same quarter in the prior year, the firm earned $1.62 EPS. Paycom Software’s quarterly revenue was up 10.5% on a year-over-year basis. Research analysts anticipate that Paycom Software will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 25th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, August 25th. Paycom Software’s dividend payout ratio (DPR) is currently 20.30%.

Insider Activity at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $223.27, for a total transaction of $334,905.00. Following the transaction, the insider owned 24,533 shares in the company, valued at $5,477,482.91. This trade represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc boosted its holdings in Paycom Software by 240.6% during the third quarter. Versant Capital Management Inc now owns 906 shares of the software maker’s stock worth $189,000 after buying an additional 640 shares in the last quarter. Stephens Inc. AR boosted its holdings in Paycom Software by 38.7% during the third quarter. Stephens Inc. AR now owns 11,499 shares of the software maker’s stock worth $2,393,000 after buying an additional 3,207 shares in the last quarter. Bogart Wealth LLC boosted its holdings in Paycom Software by 100.0% during the third quarter. Bogart Wealth LLC now owns 200 shares of the software maker’s stock worth $42,000 after buying an additional 100 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Paycom Software by 5.5% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,417 shares of the software maker’s stock worth $503,000 after buying an additional 127 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in Paycom Software by 0.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 106,682 shares of the software maker’s stock worth $22,205,000 after buying an additional 303 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

About Paycom Software

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.