Citigroup Cuts Paycom Software (NYSE:PAYC) Price Target to $193.00

Paycom Software (NYSE:PAYC) had its price objective reduced by Citigroup from $196.00 to $193.00 in a report published on Thursday, Benzinga reports. They currently have a neutral rating on the software maker’s stock.

PAYC has been the subject of several other research reports. BTIG Research initiated coverage on Paycom Software in a research note on Tuesday, February 6th. They set a neutral rating for the company. Needham & Company LLC reissued a hold rating on shares of Paycom Software in a research report on Thursday. UBS Group upped their price objective on shares of Paycom Software from $235.00 to $250.00 and gave the stock a buy rating in a report on Wednesday, January 10th. Barclays dropped their target price on shares of Paycom Software from $193.00 to $184.00 and set an equal weight rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. upped their price target on shares of Paycom Software from $165.00 to $175.00 and gave the company a neutral rating in a report on Thursday. Sixteen analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Paycom Software currently has a consensus rating of Hold and a consensus price target of $246.31.

Paycom Software Price Performance

NYSE:PAYC traded up $3.15 during mid-day trading on Thursday, reaching $174.44. The stock had a trading volume of 732,487 shares, compared to its average volume of 868,447. The stock has a market cap of $10.14 billion, a P/E ratio of 21.16, a PEG ratio of 2.84 and a beta of 1.17. The business’s 50 day moving average is $189.34 and its 200 day moving average is $193.38. Paycom Software has a fifty-two week low of $146.15 and a fifty-two week high of $374.04.

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

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Friday, May 24th. This represents a $1.50 annualized dividend and a dividend yield of 0.86%. Paycom Software’s dividend payout ratio is currently 18.27%.

Institutional Trading of Paycom Software

Several large investors have recently made changes to their positions in PAYC. Vanguard Group Inc. lifted its position in Paycom Software by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 5,936,910 shares of the software maker’s stock worth $1,227,278,000 after buying an additional 137,583 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Paycom Software by 18.8% during the third quarter. American Century Companies Inc. now owns 1,139,511 shares of the software maker’s stock valued at $295,441,000 after purchasing an additional 180,202 shares during the last quarter. Brown Capital Management LLC increased its holdings in shares of Paycom Software by 10.1% in the fourth quarter. Brown Capital Management LLC now owns 1,106,045 shares of the software maker’s stock valued at $228,642,000 after purchasing an additional 101,744 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in Paycom Software by 7.9% in the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 977,055 shares of the software maker’s stock worth $182,426,000 after purchasing an additional 71,272 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in Paycom Software by 16,173.6% during the 4th quarter. International Assets Investment Management LLC now owns 787,803 shares of the software maker’s stock worth $162,855,000 after buying an additional 782,962 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

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.