Shares of Paycom Software, Inc. (NYSE:PAYC – Get Free Report) have been given a consensus recommendation of “Hold” by the eleven brokerages that are covering the company, MarketBeat Ratings reports. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $226.90.
A number of brokerages recently issued reports on PAYC. KeyCorp upped their target price on Paycom Software from $245.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. BMO Capital Markets increased their price objective on Paycom Software from $215.00 to $244.00 and gave the company a “market perform” rating in a report on Thursday, May 8th. JPMorgan Chase & Co. raised their target price on shares of Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research report on Thursday, May 8th. Finally, Piper Sandler increased their price target on shares of Paycom Software from $224.00 to $246.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th.
Read Our Latest Research Report on PAYC
Paycom Software Trading Up 1.3%
Paycom Software (NYSE:PAYC – Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The firm had revenue of $530.50 million during the quarter, compared to analysts’ expectations of $522.92 million. During the same period in the previous year, the company earned $2.59 earnings per share. Paycom Software’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts predict that Paycom Software will post 7.15 EPS for the current fiscal year.
Paycom Software Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Tuesday, May 27th will be issued a dividend of $0.375 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.50 annualized dividend and a yield of 0.57%. Paycom Software’s dividend payout ratio is currently 21.40%.
Insider Activity at Paycom Software
In other news, CEO Chad R. Richison sold 26,426 shares of Paycom Software stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $255.52, for a total transaction of $6,752,371.52. Following the completion of the sale, the chief executive officer now directly owns 3,277,249 shares in the company, valued at approximately $837,402,664.48. This trade represents a 0.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $201.01, for a total value 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 149,426 shares of company stock worth $36,577,802 over the last 90 days. Company insiders own 10.90% of the company’s stock.
Institutional Trading of Paycom Software
Several large investors have recently modified their holdings of PAYC. Brooklyn Investment Group raised its stake in Paycom Software by 19.4% in the 1st quarter. Brooklyn Investment Group now owns 240 shares of the software maker’s stock valued at $52,000 after purchasing an additional 39 shares during the last quarter. Private Trust Co. NA raised its position in shares of Paycom Software by 9.3% in the fourth quarter. Private Trust Co. NA now owns 575 shares of the software maker’s stock valued at $118,000 after buying an additional 49 shares during the last quarter. Commerce Bank lifted its stake in shares of Paycom Software by 2.2% during the first quarter. Commerce Bank now owns 2,351 shares of the software maker’s stock valued at $514,000 after buying an additional 50 shares during the period. Oppenheimer & Co. Inc. lifted its stake in shares of Paycom Software by 1.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker’s stock valued at $602,000 after buying an additional 51 shares during the period. Finally, Allworth Financial LP boosted its position in Paycom Software by 12.9% during the first quarter. Allworth Financial LP now owns 464 shares of the software maker’s stock worth $105,000 after acquiring an additional 53 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.
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.
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