Paycom Software (NYSE:PAYC) Given New $175.00 Price Target at JPMorgan Chase & Co.

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

Several other brokerages have also recently issued reports on PAYC. Needham & Company LLC reissued a hold rating on shares of Paycom Software in a report on Thursday. UBS Group boosted their price target on Paycom Software from $235.00 to $250.00 and gave the company a buy rating in a report on Wednesday, January 10th. Piper Sandler increased their target price 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. Jefferies Financial Group reissued a hold rating and issued a $195.00 price target on shares of Paycom Software in a research note on Friday, January 5th. Finally, BTIG Research started coverage on shares of Paycom Software in a report on Tuesday, February 6th. They set a neutral rating on the stock. 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, the stock presently has a consensus rating of Hold and a consensus price target of $247.25.

Paycom Software Stock Performance

Shares of NYSE PAYC traded up $4.57 during mid-day trading on Thursday, hitting $171.29. The stock had a trading volume of 1,207,026 shares, compared to its average volume of 838,850. The firm has a market cap of $9.86 billion, a PE ratio of 20.86, a PEG ratio of 2.84 and a beta of 1.17. The company has a 50 day moving average of $189.34 and a two-hundred day moving average of $194.47. Paycom Software has a twelve month low of $146.15 and a twelve month high of $374.04.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data 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. 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 during the quarter, compared to analysts’ expectations of $422.50 million. During the same period last year, the business posted $1.38 earnings per share. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. Equities research analysts predict that Paycom Software will post 5.73 EPS for the current fiscal year.

Paycom Software Announces Dividend

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. This represents a $1.50 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, May 24th. Paycom Software’s payout ratio is currently 18.27%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Mather Group LLC. purchased a new position in shares of Paycom Software in the 1st quarter valued at about $26,000. Hexagon Capital Partners LLC lifted its stake in Paycom Software by 333.3% in 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 during the last quarter. Palisade Asset Management LLC acquired a new position in Paycom Software during the 1st quarter worth approximately $32,000. Cary Street Partners Investment Advisory LLC increased its position in shares of Paycom Software by 83.5% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock valued at $40,000 after purchasing an additional 71 shares during the last quarter. Finally, Transcendent Capital Group LLC purchased a new stake in shares of Paycom Software during the 4th quarter worth $41,000. 87.77% of the stock is owned by institutional investors and hedge funds.

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.