BMO Capital Markets Cuts Paycom Software (NYSE:PAYC) Price Target to $190.00

Paycom Software (NYSE:PAYC) had its target price reduced by BMO Capital Markets from $200.00 to $190.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a market perform rating on the software maker’s stock.

Other equities analysts have also issued research reports about the company. UBS Group raised their price objective on Paycom Software from $235.00 to $250.00 and gave the company a buy rating in a research report on Wednesday, January 10th. Piper Sandler boosted their price objective on shares of Paycom Software from $185.00 to $190.00 and gave the stock a neutral rating in a research note on Thursday, February 8th. Needham & Company LLC restated a hold rating on shares of Paycom Software in a report on Thursday. JPMorgan Chase & Co. lifted their target price on shares of Paycom Software from $140.00 to $165.00 and gave the company a neutral rating in a report on Thursday, February 8th. Finally, Jefferies Financial Group reissued a hold rating and issued a $195.00 price target on shares of Paycom Software in a research report on Friday, January 5th. Sixteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Paycom Software presently has an average rating of Hold and a consensus price target of $247.25.

Paycom Software Price Performance

PAYC stock opened at $171.29 on Thursday. Paycom Software has a 1 year low of $146.15 and a 1 year high of $374.04. The firm has a 50-day moving average of $189.34 and a 200 day moving average of $193.90. The company has a market cap of $9.86 billion, a P/E ratio of 20.86, a PEG ratio of 2.92 and a beta of 1.17.

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

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Tuesday, May 28th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $1.50 annualized dividend and a dividend yield of 0.88%. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

Institutional Trading of Paycom Software

Institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC lifted its position in Paycom Software by 17.2% during the third quarter. Commonwealth Equity Services LLC now owns 27,629 shares of the software maker’s stock valued at $7,164,000 after purchasing an additional 4,046 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Paycom Software by 12.0% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 13,951 shares of the software maker’s stock worth $3,617,000 after purchasing an additional 1,500 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in Paycom Software by 31.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 24,319 shares of the software maker’s stock valued at $6,305,000 after buying an additional 5,888 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Paycom Software by 18.4% during the 3rd quarter. Raymond James & Associates now owns 12,450 shares of the software maker’s stock valued at $3,228,000 after buying an additional 1,935 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of Paycom Software by 19.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 27,862 shares of the software maker’s stock worth $7,224,000 after buying an additional 4,495 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

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.