Paycom Software (NYSE:PAYC) Given New $286.00 Price Target at TD Cowen

Paycom Software (NYSE:PAYC) had its target price lifted by TD Cowen from $244.00 to $286.00 in a research note released on Friday morning,Benzinga reports. They currently have a buy rating on the software maker’s stock.

A number of other equities analysts have also weighed in on the stock. KeyCorp boosted their price objective on shares of Paycom Software from $270.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, September 21st. BMO Capital Markets increased their target price on Paycom Software from $145.00 to $208.00 and gave the company a “market perform” rating in a research note on Thursday, August 6th. Barclays lifted their target price on Paycom Software from $154.00 to $210.00 and gave the stock an “equal weight” rating in a report on Thursday, August 6th. Wall Street Zen cut Paycom Software from a “buy” rating to a “hold” rating in a research note on Sunday, September 6th. Finally, Guggenheim upped their price target on Paycom Software from $180.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $216.93.

Paycom Software Stock Up 0.2%

Paycom Software stock traded up $0.46 during mid-day trading on Friday, reaching $221.45. The stock had a trading volume of 115,101 shares, compared to its average volume of 1,219,833. The company has a market capitalization of $9.98 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 1.20 and a beta of 0.82. The company has a 50-day moving average price of $215.01 and a two-hundred day moving average price of $161.05. Paycom Software has a one year low of $104.90 and a one year high of $244.98. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.07 and a quick ratio of 1.07.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.40. The business had revenue of $531.20 million during 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%. Paycom Software’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business earned $2.06 EPS. On average, analysts expect that Paycom Software will post 10.64 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th were paid a $0.3750 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, August 24th. Paycom Software’s dividend payout ratio is 15.94%.

Insider Buying and Selling

In related news, insider Shane Hadlock sold 2,577 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $237.60, for a total value of $612,295.20. Following the transaction, the insider directly owned 70,152 shares of the company’s stock, valued at approximately $16,668,115.20. This trade represents a 3.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 13.20% of the company’s stock.

Institutional Trading of Paycom Software

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Archford Capital Strategies LLC raised its stake in shares of Paycom Software by 1.1% during the second quarter. Archford Capital Strategies LLC now owns 4,684 shares of the software maker’s stock valued at $589,000 after acquiring an additional 49 shares in the last quarter. CX Institutional grew its stake in Paycom Software by 4.7% in the third quarter. CX Institutional now owns 1,399 shares of the software maker’s stock worth $304,000 after purchasing an additional 63 shares in the last quarter. Versant Capital Management Inc grew its stake in Paycom Software by 2.6% in the third quarter. Versant Capital Management Inc now owns 2,689 shares of the software maker’s stock worth $585,000 after purchasing an additional 69 shares in the last quarter. Lido Advisors LLC increased its holdings in Paycom Software by 1.4% during the 4th quarter. Lido Advisors LLC now owns 6,286 shares of the software maker’s stock worth $1,081,000 after purchasing an additional 87 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in Paycom Software by 32.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 424 shares of the software maker’s stock worth $52,000 after purchasing an additional 103 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Company Profile

Paycom Software, Inc develops and provides cloud-based human capital management (HCM) software for businesses. Its platform is designed to help employers manage payroll and other workforce processes through a unified system, reducing the need for separate applications and manual data entry.

The company’s products and services include payroll processing, tax management, time and labor management, talent acquisition, onboarding, talent management, employee benefits administration, expense management, and workforce analytics.