Paycom Software (NYSE:PAYC) Price Target Lowered to $250.00 at KeyCorp

Paycom Software (NYSE:PAYC) had its price objective cut by KeyCorp from $290.00 to $250.00 in a research report released on Thursday,Benzinga reports. They currently have an overweight rating on the software maker’s stock.

Several other research firms have also recently issued reports on PAYC. Mizuho lowered their price objective on Paycom Software from $220.00 to $180.00 and set a “neutral” rating on the stock in a research report on Thursday. Jefferies Financial Group lowered their price target on Paycom Software from $250.00 to $225.00 and set a “hold” rating on the stock in a report on Monday, October 13th. Barclays reduced their price objective on Paycom Software from $250.00 to $225.00 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. JPMorgan Chase & Co. upped their target price on shares of Paycom Software from $215.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Paycom Software in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Paycom Software has an average rating of “Hold” and a consensus target price of $225.77.

Paycom Software Trading Down 1.0%

Shares of NYSE PAYC traded down $1.57 during mid-day trading on Thursday, hitting $162.44. The company had a trading volume of 944,859 shares, compared to its average volume of 656,172. Paycom Software has a 1 year low of $156.50 and a 1 year high of $267.76. The stock’s 50-day moving average price is $205.86 and its 200-day moving average price is $226.18. The company has a market capitalization of $9.40 billion, a price-to-earnings ratio of 21.93, a P/E/G ratio of 1.81 and a beta of 0.88.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, November 5th. The software maker reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.96 by ($0.02). The company had revenue of $493.30 million for the quarter, compared to the consensus estimate of $492.62 million. Paycom Software had a net margin of 22.65% and a return on equity of 24.79%. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.67 earnings per share. Paycom Software has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast 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 will be paid on Monday, December 8th. Stockholders of record on Monday, November 24th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Monday, November 24th. This represents a $1.50 annualized dividend and a dividend yield of 0.9%. Paycom Software’s dividend payout ratio (DPR) is 20.30%.

Insider Activity

In related news, insider Bradley Scott Smith sold 1,500 shares of the company’s stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Paycom Software

Several hedge funds and other institutional investors have recently modified their holdings of PAYC. Baillie Gifford & Co. grew its stake in Paycom Software by 1,918.4% during the 1st quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker’s stock worth $346,180,000 after buying an additional 1,505,990 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Paycom Software during the first quarter worth about $114,440,000. Allianz Asset Management GmbH increased its holdings in shares of Paycom Software by 10,106.6% during the third quarter. Allianz Asset Management GmbH now owns 486,957 shares of the software maker’s stock valued at $101,355,000 after acquiring an additional 482,186 shares in the last quarter. Jennison Associates LLC purchased a new position in shares of Paycom Software in the 2nd quarter valued at approximately $49,853,000. Finally, Vanguard Group Inc. raised its position in shares of Paycom Software by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 5,802,788 shares of the software maker’s stock valued at $1,207,792,000 after purchasing an additional 179,218 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

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.