Paycom Software (NYSE:PAYC) Price Target Raised to $270.00

Paycom Software (NYSE:PAYC) had its price target upped by KeyCorp from $245.00 to $270.00 in a research note issued to investors on Thursday,Benzinga reports. KeyCorp currently has an overweight rating on the software maker’s stock.

Other equities analysts have also recently issued research reports about the company. Piper Sandler boosted their price target on Paycom Software from $224.00 to $246.00 and gave the stock a “neutral” rating in a report on Thursday. Stifel Nicolaus boosted their target price on Paycom Software from $187.00 to $215.00 and gave the stock a “hold” rating in a research note on Thursday. Barclays decreased their price target on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Citigroup lowered their price objective on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $226.90.

Paycom Software Trading Up 1.4 %

Shares of NYSE PAYC opened at $252.95 on Thursday. Paycom Software has a 1-year low of $139.50 and a 1-year high of $255.12. The firm has a market cap of $14.63 billion, a P/E ratio of 28.42, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80. The business’s 50 day moving average is $217.84 and its 200-day moving average is $214.97.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.18. The firm had revenue of $530.50 million during the quarter, compared to analysts’ expectations of $522.92 million. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.59 EPS. Analysts forecast that Paycom Software will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Tuesday, May 27th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.50 dividend on an annualized basis and a yield of 0.59%. Paycom Software’s payout ratio is 16.85%.

Insider Buying and Selling

In related news, COO Randall Peck sold 3,600 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $212.19, for a total value of $763,884.00. Following the transaction, the chief operating officer now owns 50,665 shares in the company, valued at $10,750,606.35. The trade was a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bradley Scott Smith sold 3,000 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $201.01, for a total transaction of $603,030.00. Following the sale, the insider now directly owns 28,733 shares in the company, valued at $5,775,620.33. This trade represents a 9.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,100 shares of company stock valued at $30,698,424 in the last three months. Insiders own 10.90% of the company’s stock.

Institutional Investors Weigh In On Paycom Software

Institutional investors and hedge funds have recently made changes to their positions in the business. Proficio Capital Partners LLC bought a new position in Paycom Software during the fourth quarter worth $7,142,000. Glenview Trust co raised its holdings in shares of Paycom Software by 27.1% in the 4th quarter. Glenview Trust co now owns 12,294 shares of the software maker’s stock worth $2,520,000 after acquiring an additional 2,625 shares during the last quarter. Friedenthal Financial bought a new position in Paycom Software in the 4th quarter valued at about $776,000. Nisa Investment Advisors LLC boosted its stake in Paycom Software by 175.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,351 shares of the software maker’s stock valued at $1,507,000 after purchasing an additional 4,685 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Paycom Software by 43.0% during the 4th quarter. American Century Companies Inc. now owns 52,755 shares of the software maker’s stock worth $10,813,000 after purchasing an additional 15,852 shares in the last quarter. Institutional investors 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.