Paycom Software (NYSE:PAYC) Given New $190.00 Price Target at Jefferies Financial Group

Paycom Software (NYSE:PAYC) had its price target reduced by Jefferies Financial Group from $225.00 to $190.00 in a report issued on Thursday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the software maker’s stock.

Several other brokerages also recently weighed in on PAYC. Barclays decreased their target price on Paycom Software from $225.00 to $210.00 and set an “equal weight” rating for the company in a research note on Thursday. JPMorgan Chase & Co. upped their price target on Paycom Software from $215.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. TD Cowen lowered their price objective on shares of Paycom Software from $258.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday. Zacks Research lowered shares of Paycom Software from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Paycom Software in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $225.77.

Paycom Software Price Performance

NYSE:PAYC traded down $1.57 during midday trading on Thursday, reaching $162.44. The stock had a trading volume of 944,859 shares, compared to its average volume of 645,793. The stock has a market capitalization of $9.40 billion, a P/E ratio of 20.20, a PEG ratio of 2.03 and a beta of 0.88. Paycom Software has a 1-year low of $156.50 and a 1-year high of $267.76. The firm’s fifty day simple moving average is $205.86 and its 200-day simple moving average is $226.18.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, November 5th. The software maker reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.02). The firm had revenue of $493.30 million for the quarter, compared to analyst estimates of $492.62 million. Paycom Software had a return on equity of 24.83% and a net margin of 22.65%.The firm’s revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.67 EPS. Paycom Software has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Paycom Software will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Monday, November 24th will be paid a dividend of $0.375 per share. The ex-dividend date is Monday, November 24th. This represents a $1.50 dividend on an annualized basis and a yield of 0.9%. Paycom Software’s payout ratio is currently 20.30%.

Insider Activity

In other news, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $223.27, for a total value of $334,905.00. Following the completion of the transaction, the insider owned 24,533 shares in the company, valued at approximately $5,477,482.91. This represents a 5.76% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 10.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. SouthState Corp acquired a new stake in Paycom Software during the first quarter valued at approximately $27,000. CYBER HORNET ETFs LLC bought a new position in shares of Paycom Software during the 2nd quarter worth approximately $29,000. MUFG Securities EMEA plc acquired a new stake in Paycom Software in the 2nd quarter valued at $33,000. Steigerwald Gordon & Koch Inc. bought a new stake in Paycom Software in the third quarter valued at $31,000. Finally, S Bank Fund Management Ltd bought a new stake in Paycom Software in the first quarter valued at $37,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Company Profile

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.