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

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

PAYC has been the subject of a number of other reports. Piper Sandler upped their price objective on shares of Paycom Software from $185.00 to $190.00 and gave the stock a neutral rating in a research report on Thursday, February 8th. BTIG Research began coverage on Paycom Software in a research note on Tuesday, February 6th. They issued a neutral rating for the company. JPMorgan Chase & Co. raised their target price on Paycom Software from $140.00 to $165.00 and gave the company a neutral rating in a research report 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 report on Friday, January 5th. Finally, Needham & Company LLC restated a hold rating on shares of Paycom Software in a report on Thursday. Sixteen research 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.com, the company presently has a consensus rating of Hold and an average price target of $247.25.

Paycom Software Stock Up 2.7 %

PAYC traded up $4.57 during midday trading on Thursday, hitting $171.29. The company had a trading volume of 1,207,026 shares, compared to its average volume of 838,850. The company has a market capitalization of $9.86 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 2.84 and a beta of 1.17. The stock’s 50 day moving average price is $189.34 and its 200 day moving average price is $194.47. Paycom Software has a 52 week low of $146.15 and a 52 week high of $374.04.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. The business had revenue of $434.60 million for the quarter, compared to the consensus estimate of $422.50 million. During the same period in the prior year, the business earned $1.38 EPS. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. Research analysts predict that Paycom Software will post 5.73 EPS for the current year.

Paycom Software Announces Dividend

The business also recently declared 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. 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 dividend payout ratio is presently 18.27%.

Hedge Funds Weigh In On Paycom Software

Large investors have recently modified their holdings of the company. Mather Group LLC. purchased a new stake in Paycom Software in the 1st quarter worth approximately $26,000. Hexagon Capital Partners LLC boosted its stake in Paycom Software by 333.3% during the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock valued at $27,000 after buying an additional 100 shares during the period. Cary Street Partners Investment Advisory LLC grew its position in Paycom Software by 83.5% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock worth $40,000 after buying an additional 71 shares in the last quarter. Palisade Asset Management LLC bought a new position in Paycom Software in the 1st quarter worth about $32,000. Finally, Transcendent Capital Group LLC bought a new position in Paycom Software in the 4th quarter worth about $41,000. 87.77% of the stock is currently owned by institutional investors.

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.