Paycom Software (NYSE:PAYC) Price Target Lowered to $135.00 at Cantor Fitzgerald

Paycom Software (NYSE:PAYC) had its target price cut by Cantor Fitzgerald from $170.00 to $135.00 in a research report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the software maker’s stock.

Several other brokerages also recently weighed in on PAYC. Zacks Research downgraded Paycom Software from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. TD Cowen decreased their price target on Paycom Software from $200.00 to $184.00 and set a “buy” rating for the company in a report on Thursday, January 8th. BMO Capital Markets reaffirmed a “market perform” rating and set a $175.00 price objective on shares of Paycom Software in a research note on Friday, January 16th. JPMorgan Chase & Co. cut their target price on shares of Paycom Software from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Finally, KeyCorp lowered their price target on shares of Paycom Software from $290.00 to $250.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $202.86.

Paycom Software Trading Down 3.8%

NYSE PAYC opened at $134.37 on Thursday. Paycom Software has a 12 month low of $132.13 and a 12 month high of $267.76. The stock has a market cap of $7.56 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 1.47 and a beta of 0.82. The company’s 50 day moving average is $157.93 and its two-hundred day moving average is $191.95.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, November 5th. The software maker reported $1.94 EPS for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.02). Paycom Software had a net margin of 22.65% and a return on equity of 24.79%. The firm had revenue of $493.30 million for the quarter, compared to the consensus estimate of $492.62 million. During the same period in the previous year, the company posted $1.67 earnings per share. Paycom Software’s quarterly revenue was up 9.2% on a year-over-year basis. Sell-side analysts forecast that Paycom Software will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 8th. Investors of record on Monday, November 24th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, November 24th. Paycom Software’s dividend payout ratio is 18.66%.

Insider Activity

In other news, CFO Robert D. Foster sold 1,300 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $162.66, for a total value of $211,458.00. Following the completion of the sale, the chief financial officer directly owned 14,747 shares in the company, valued at $2,398,747.02. This represents a 8.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 10.90% of the stock is owned by insiders.

Institutional Trading of Paycom Software

A number of hedge funds have recently bought and sold shares of PAYC. Vanguard Group Inc. grew 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 valued at $1,207,792,000 after purchasing an additional 179,218 shares in the last quarter. State Street Corp raised its holdings in shares of Paycom Software by 2.8% during the 3rd quarter. State Street Corp now owns 2,157,127 shares of the software maker’s stock worth $448,984,000 after acquiring an additional 59,217 shares during the period. Baillie Gifford & Co. boosted its position in shares of Paycom Software by 10.3% during the 3rd quarter. Baillie Gifford & Co. now owns 1,708,662 shares of the software maker’s stock valued at $355,641,000 after acquiring an additional 158,967 shares during the last quarter. Geode Capital Management LLC raised its stake in Paycom Software by 5.3% during the second quarter. Geode Capital Management LLC now owns 1,661,685 shares of the software maker’s stock worth $383,265,000 after purchasing an additional 83,154 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Paycom Software by 9.3% during the 3rd quarter. Invesco Ltd. now owns 1,216,188 shares of the software maker’s stock worth $253,137,000 after buying an additional 103,801 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

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.