Mizuho Cuts Paycom Software (NYSE:PAYC) Price Target to $170.00

Paycom Software (NYSE:PAYC) had its price target trimmed by Mizuho from $185.00 to $170.00 in a report released on Monday, Benzinga reports. The firm currently has a neutral rating on the software maker’s stock.

Several other analysts also recently commented on PAYC. Citigroup reduced their price target on shares of Paycom Software from $196.00 to $193.00 and set a neutral rating for the company in a research report on Thursday, May 2nd. JPMorgan Chase & Co. raised their price target on Paycom Software from $165.00 to $175.00 and gave the stock a neutral rating in a report on Thursday, May 2nd. UBS Group upped their price objective on Paycom Software from $235.00 to $250.00 and gave the company a buy rating in a research note on Wednesday, January 10th. BTIG Research began coverage on Paycom Software in a research note on Tuesday, February 6th. They issued a neutral rating on the stock. Finally, StockNews.com upgraded Paycom Software from a hold rating to a buy rating in a research note on Friday, May 3rd. Sixteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $246.31.

Paycom Software Stock Performance

Paycom Software stock opened at $173.58 on Monday. The company has a market capitalization of $10.09 billion, a P/E ratio of 21.14, a PEG ratio of 2.84 and a beta of 1.17. Paycom Software has a fifty-two week low of $146.15 and a fifty-two week high of $374.04. The stock has a 50-day simple moving average of $188.69 and a 200-day simple moving average of $191.89.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. The company had revenue of $434.60 million during 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%. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.38 earnings per share. As a group, analysts forecast that Paycom Software will post 5.82 earnings per share for the current year.

Paycom Software Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Paycom Software by 1.2% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,500 shares of the software maker’s stock valued at $1,167,000 after buying an additional 52 shares during the last quarter. HBK Sorce Advisory LLC boosted its stake in shares of Paycom Software by 5.9% during the fourth quarter. HBK Sorce Advisory LLC now owns 986 shares of the software maker’s stock valued at $204,000 after acquiring an additional 55 shares during the last quarter. Empirical Finance LLC increased its position in Paycom Software by 3.9% during the 1st quarter. Empirical Finance LLC now owns 1,580 shares of the software maker’s stock worth $314,000 after purchasing an additional 60 shares in the last quarter. Renaissance Group LLC raised its stake in Paycom Software by 1.1% in the 3rd quarter. Renaissance Group LLC now owns 5,391 shares of the software maker’s stock valued at $1,398,000 after purchasing an additional 61 shares during the last quarter. Finally, Optas LLC lifted its holdings in Paycom Software by 6.1% in the 1st quarter. Optas LLC now owns 1,059 shares of the software maker’s stock valued at $211,000 after purchasing an additional 61 shares in 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.