Barclays Cuts Paycom Software (NYSE:PAYC) Price Target to $210.00

Paycom Software (NYSE:PAYC) had its price objective cut by Barclays from $225.00 to $210.00 in a report released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the software maker’s stock.

Several other research firms also recently commented on PAYC. Zacks Research downgraded shares of Paycom Software from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. BMO Capital Markets boosted their price target on shares of Paycom Software from $244.00 to $258.00 and gave the stock a “market perform” rating in a research note on Thursday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Paycom Software in a report on Wednesday, October 8th. Cantor Fitzgerald raised Paycom Software to a “hold” rating in a report on Thursday, September 11th. Finally, Guggenheim began coverage on Paycom Software in a research report on Friday, September 26th. They issued a “buy” rating and a $270.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Paycom Software currently has a consensus rating of “Hold” and a consensus target price of $225.77.

Paycom Software Trading Down 1.0%

NYSE:PAYC opened at $162.44 on Thursday. The stock has a 50-day moving average price of $205.86 and a 200 day moving average price of $226.28. The stock has a market capitalization of $9.40 billion, a P/E ratio of 20.20, a P/E/G ratio of 1.79 and a beta of 0.88. Paycom Software has a 12-month low of $156.50 and a 12-month high of $267.76.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, November 5th. The software maker reported $1.94 EPS for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.02). Paycom Software had a return on equity of 24.79% and a net margin of 22.65%.The business had revenue of $493.30 million during the quarter, compared to analysts’ expectations of $492.62 million. During the same period in the prior year, the firm posted $1.67 earnings per share. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. Paycom Software has set its FY 2025 guidance at EPS. On average, research analysts predict that Paycom Software will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Monday, November 24th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, November 24th. Paycom Software’s dividend payout ratio (DPR) is 18.66%.

Insider Activity

In other news, insider Bradley Scott Smith sold 1,500 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $223.27, for a total value of $334,905.00. Following the completion of the transaction, the insider directly owned 24,533 shares of the company’s stock, valued at approximately $5,477,482.91. The trade was a 5.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 PAYC. Vanguard Group Inc. increased 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 acquiring an additional 179,218 shares during the period. State Street Corp grew its position in Paycom Software by 8.4% during the second quarter. State Street Corp now owns 2,097,910 shares of the software maker’s stock valued at $485,456,000 after buying an additional 162,477 shares during the period. Baillie Gifford & Co. increased its stake in shares of Paycom Software by 10.3% in the 3rd quarter. Baillie Gifford & Co. now owns 1,708,662 shares of the software maker’s stock valued at $355,641,000 after purchasing an additional 158,967 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Paycom Software by 5.3% during the 2nd quarter. Geode Capital Management LLC now owns 1,661,685 shares of the software maker’s stock valued at $383,265,000 after buying an additional 83,154 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Paycom Software by 5.0% in the 1st quarter. Invesco Ltd. now owns 1,233,057 shares of the software maker’s stock valued at $269,398,000 after acquiring an additional 58,176 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

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.