UBS Group Cuts Paycom Software (NYSE:PAYC) Price Target to $245.00

Paycom Software (NYSE:PAYC) had its price objective trimmed by UBS Group from $285.00 to $245.00 in a report published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

PAYC has been the subject of a number of other research reports. Jefferies Financial Group cut their target price on shares of Paycom Software from $250.00 to $225.00 and set a “hold” rating for the company in a research report on Monday, October 13th. TD Cowen dropped their price objective on shares of Paycom Software from $258.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday. JPMorgan Chase & Co. upped their target price on Paycom Software from $215.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. KeyCorp dropped their price target on Paycom Software from $290.00 to $250.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Barclays cut their price target on Paycom Software from $225.00 to $210.00 and set an “equal weight” rating for the company in a report on Thursday. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $225.77.

Paycom Software Stock Performance

Shares of PAYC stock opened at $162.44 on Thursday. The stock has a fifty day moving average price of $205.86 and a 200 day moving average price of $226.28. The stock has a market cap of $9.40 billion, a PE ratio of 20.20, a P/E/G ratio of 1.79 and a beta of 0.88. Paycom Software has a 1 year low of $156.50 and a 1 year high of $267.76.

Paycom Software (NYSE:PAYC) last announced its quarterly 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 during the quarter, compared to analysts’ expectations of $492.62 million. Paycom Software had a net margin of 22.65% and a return on equity of 24.79%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.67 EPS. Paycom Software has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Paycom Software will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 8th. Stockholders of record on Monday, November 24th will be issued a dividend of $0.375 per share. The ex-dividend date 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 18.66%.

Insider Activity at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of the company’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 in the company, valued at approximately $5,477,482.91. This represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 10.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Paycom Software by 3.2% in the third quarter. Vanguard Group Inc. now owns 5,802,788 shares of the software maker’s stock worth $1,207,792,000 after acquiring an additional 179,218 shares during the last quarter. State Street Corp increased 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 worth $485,456,000 after purchasing an additional 162,477 shares during the last quarter. Baillie Gifford & Co. raised its stake in Paycom Software by 10.3% during the third quarter. Baillie Gifford & Co. now owns 1,708,662 shares of the software maker’s stock worth $355,641,000 after purchasing an additional 158,967 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Paycom Software by 5.3% in 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 purchasing an additional 83,154 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Paycom Software by 5.0% during the 1st quarter. Invesco Ltd. now owns 1,233,057 shares of the software maker’s stock valued at $269,398,000 after buying an additional 58,176 shares during the period. 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.