JPMorgan Chase & Co. Raises Paycom Software (NYSE:PAYC) Price Target to $175.00

Paycom Software (NYSE:PAYC) had its price objective upped by JPMorgan Chase & Co. from $165.00 to $175.00 in a research report sent to investors on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the software maker’s stock.

A number of other research firms also recently commented on PAYC. BTIG Research started coverage on shares of Paycom Software in a report on Tuesday, February 6th. They set a neutral rating for the company. Piper Sandler lifted their price objective on Paycom Software from $185.00 to $190.00 and gave the company a neutral rating in a report on Thursday, February 8th. BMO Capital Markets dropped their target price on Paycom Software from $200.00 to $190.00 and set a market perform rating for the company in a report on Thursday. Needham & Company LLC restated a hold rating on shares of Paycom Software in a research report on Thursday. Finally, Jefferies Financial Group reiterated 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 given a buy rating to the stock. Based on data from MarketBeat, Paycom Software presently has a consensus rating of Hold and a consensus price target of $247.25.

Paycom Software Stock Up 2.7 %

Shares of PAYC opened at $171.29 on Thursday. The stock’s 50-day moving average price is $189.34 and its 200 day moving average price is $193.90. The firm has a market capitalization of $9.86 billion, a price-to-earnings ratio of 20.86, a P/E/G ratio of 2.92 and a beta of 1.17. Paycom Software has a 12-month low of $146.15 and a 12-month high of $374.04.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. The business had revenue of $434.60 million for the quarter, compared to analysts’ expectations of $422.50 million. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. Paycom Software’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.38 earnings per share. Equities research analysts expect that Paycom Software will post 5.82 EPS for the current year.

Paycom Software Dividend Announcement

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

Institutional Inflows and Outflows

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