Paycom Software’s (PAYC) Hold Rating Reiterated at Needham & Company LLC

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

A number of other brokerages also recently issued reports on PAYC. JPMorgan Chase & Co. raised their price target on shares of Paycom Software from $140.00 to $165.00 and gave the company a neutral rating in a report on Thursday, February 8th. Citigroup dropped their price target on shares of Paycom Software from $205.00 to $198.00 and set a neutral rating on the stock in a report on Wednesday, January 31st. UBS Group raised their price target on shares of Paycom Software from $235.00 to $250.00 and gave the company a buy rating in a report on Wednesday, January 10th. Jefferies Financial Group reaffirmed a hold rating and set a $195.00 price target on shares of Paycom Software in a report on Friday, January 5th. Finally, Piper Sandler increased their price objective 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. Sixteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Paycom Software currently has an average rating of Hold and a consensus target price of $247.25.

Paycom Software Stock Performance

Shares of PAYC stock opened at $171.29 on Thursday. Paycom Software has a one year low of $146.15 and a one year high of $374.04. The company’s 50-day moving average is $189.34 and its 200 day moving average is $193.38. The company has a market capitalization of $9.95 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 announced its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. The firm had revenue of $434.60 million for the quarter, compared to the consensus estimate of $422.50 million. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.38 EPS. As a group, research analysts predict that Paycom Software will post 5.82 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced 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. This represents a $1.50 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Friday, May 24th. Paycom Software’s payout ratio is 18.27%.

Institutional Investors Weigh In On Paycom Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mather Group LLC. bought a new stake in Paycom Software during the 1st quarter worth approximately $26,000. Hexagon Capital Partners LLC grew its holdings in Paycom Software by 333.3% during the 4th 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 in the last quarter. Palisade Asset Management LLC purchased a new stake in Paycom Software during the 1st quarter valued at approximately $32,000. Cary Street Partners Investment Advisory LLC grew its holdings in Paycom Software by 83.5% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock valued at $40,000 after buying an additional 71 shares in the last quarter. Finally, Transcendent Capital Group LLC purchased a new stake in Paycom Software during the 4th quarter valued at approximately $41,000. 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.