Paycom Software (NYSE:PAYC) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Paycom Software (NYSE:PAYC) in a research note published on Thursday, Benzinga reports.

PAYC has been the subject of a number of other reports. UBS Group increased their price objective on shares of Paycom Software from $235.00 to $250.00 and gave the stock a buy rating in a research note on Wednesday, January 10th. Piper Sandler upped their price objective on Paycom Software from $185.00 to $190.00 and gave the stock a neutral rating in a research note on Thursday, February 8th. Citigroup cut their target price on Paycom Software from $205.00 to $198.00 and set a neutral rating for the company in a research report on Wednesday, January 31st. JPMorgan Chase & Co. upped their price target on Paycom Software from $140.00 to $165.00 and gave the stock a neutral rating in a research note on Thursday, February 8th. Finally, BTIG Research initiated coverage on shares of Paycom Software in a research report on Tuesday, February 6th. They set a neutral rating on the stock. Sixteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently 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 midday trading on Thursday, hitting $171.29. 1,207,026 shares of the company’s stock traded hands, compared to its average volume of 838,850. The firm has a fifty day moving average of $189.34 and a 200 day moving average of $194.47. Paycom Software has a 1 year low of $146.15 and a 1 year high of $374.04. The stock has a market capitalization of $9.86 billion, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17.

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

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th will be paid 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 yield of 0.88%. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

Hedge Funds Weigh In On Paycom Software

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mather Group LLC. purchased a new stake in Paycom Software during the 1st quarter worth about $26,000. Hexagon Capital Partners LLC grew its holdings in shares of Paycom Software by 333.3% during the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Palisade Asset Management LLC acquired a new stake in shares of Paycom Software during the first quarter worth about $32,000. Cary Street Partners Investment Advisory LLC lifted its holdings 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 acquired a new stake in shares of Paycom Software in the 4th quarter valued at about $41,000. 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.