Paycom Software’s (PAYC) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Paycom Software (NYSE:PAYC) in a report issued on Thursday morning, Benzinga reports.

A number of other brokerages have also recently issued reports on PAYC. UBS Group lifted their price objective on shares of Paycom Software from $235.00 to $250.00 and gave the company a buy rating in a report on Wednesday, January 10th. BTIG Research initiated coverage on shares of Paycom Software in a research report on Tuesday, February 6th. They set a neutral rating for the company. Piper Sandler boosted their target price on shares of Paycom Software from $185.00 to $190.00 and gave the stock a neutral rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. boosted their target price on shares of Paycom Software from $140.00 to $165.00 and gave the stock a neutral rating in a research report on Thursday, February 8th. Finally, Jefferies Financial Group reissued a hold rating and set a $195.00 target price on shares of Paycom Software in a research report on Friday, January 5th. Sixteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Paycom Software currently has a consensus rating of Hold and a consensus price target of $247.25.

Paycom Software Stock Performance

Shares of PAYC opened at $171.29 on Thursday. Paycom Software has a 52-week low of $146.15 and a 52-week high of $374.04. The business’s 50 day moving average price is $189.34 and its two-hundred day moving average price is $193.38. The firm has a market cap of $9.95 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.15. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. The firm had revenue of $434.60 million for the quarter, compared to analyst estimates of $422.50 million. During the same period in the previous year, the firm earned $1.38 earnings per share. The company’s revenue was up 17.3% compared to the same quarter last year. Research analysts predict that Paycom Software will post 5.82 EPS for the current fiscal year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Friday, May 24th. Paycom Software’s payout ratio is 18.27%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mather Group LLC. purchased a new stake in shares of Paycom Software during the 1st quarter valued at approximately $26,000. Hexagon Capital Partners LLC lifted its position in shares of Paycom Software by 333.3% during the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock worth $27,000 after acquiring an additional 100 shares in the last quarter. Palisade Asset Management LLC purchased a new stake in shares of Paycom Software during the first quarter worth $32,000. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Paycom Software by 83.5% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock worth $40,000 after acquiring an additional 71 shares during the period. Finally, Transcendent Capital Group LLC purchased a new position in shares of Paycom Software in the fourth quarter valued at $41,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

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.