Paycom Software (NYSE:PAYC) Reaches New 52-Week High Following Analyst Upgrade

Shares of Paycom Software, Inc. (NYSE:PAYC) reached a new 52-week high on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $140.00 to $264.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Paycom Software traded as high as $233.10 and last traded at $231.7620, with a volume of 20370 shares. The stock had previously closed at $229.62.

PAYC has been the topic of several other research reports. BMO Capital Markets raised their price target on shares of Paycom Software from $145.00 to $208.00 and gave the company a “market perform” rating in a research note on Thursday, August 6th. Mizuho boosted their price objective on Paycom Software from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. BTIG Research raised their target price on Paycom Software from $160.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Stifel Nicolaus lifted their target price on Paycom Software from $120.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings upgraded Paycom Software from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $208.08.

Institutional Investors Weigh In On Paycom Software

Several hedge funds have recently modified their holdings of PAYC. Brown Brothers Harriman & Co. boosted its position in shares of Paycom Software by 190.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 154 shares of the software maker’s stock valued at $25,000 after purchasing an additional 101 shares during the period. Clearstead Advisors LLC lifted its stake in Paycom Software by 140.3% during the fourth quarter. Clearstead Advisors LLC now owns 161 shares of the software maker’s stock valued at $26,000 after buying an additional 94 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new stake in Paycom Software during the second quarter valued at about $29,000. Caitlin John LLC acquired a new position in shares of Paycom Software in the second quarter worth about $31,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Paycom Software in the second quarter worth about $33,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Stock Performance

The firm’s 50-day moving average price is $162.48 and its two-hundred day moving average price is $140.64. The firm has a market capitalization of $10.46 billion, a PE ratio of 24.67, a P/E/G ratio of 1.29 and a beta of 0.75. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.57.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.40. The business had revenue of $531.20 million for the quarter, compared to analyst estimates of $513.12 million. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.06 earnings per share. As a group, research analysts predict that Paycom Software, Inc. will post 10.48 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, August 24th. Paycom Software’s payout ratio is 15.94%.

About Paycom Software

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.