Paycom Software (NYSE:PAYC) PT Lowered to $170.00 at Mizuho

Paycom Software (NYSE:PAYC) had its price target reduced by Mizuho from $185.00 to $170.00 in a research note released on Monday, Benzinga reports. They currently have a neutral rating on the software maker’s stock.

PAYC has been the subject of several other research reports. Needham & Company LLC restated a hold rating on shares of Paycom Software in a research note on Thursday, May 2nd. Barclays reduced their price objective on shares of Paycom Software from $193.00 to $184.00 and set an equal weight rating for the company in a research report on Thursday, May 2nd. William Blair reaffirmed a market perform rating on shares of Paycom Software in a research report on Thursday, May 2nd. JPMorgan Chase & Co. lifted their price target on shares of Paycom Software from $165.00 to $175.00 and gave the stock a neutral rating in a research note on Thursday, May 2nd. Finally, BMO Capital Markets decreased their price objective on shares of Paycom Software from $200.00 to $190.00 and set a market perform rating for the company in a research note on Thursday, May 2nd. Sixteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $246.31.

Paycom Software Trading Down 2.4 %

Shares of NYSE:PAYC opened at $172.26 on Monday. Paycom Software has a 52 week low of $146.15 and a 52 week high of $374.04. The company’s 50 day moving average is $188.87 and its two-hundred day moving average is $192.02. The company has a market cap of $10.01 billion, a PE ratio of 20.98, a P/E/G ratio of 2.84 and a beta of 1.17.

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, beating analysts’ consensus estimates of $1.78 by $0.15. The company had revenue of $434.60 million for 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%. Paycom Software’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period last year, the firm earned $1.38 earnings per share. As a group, equities research analysts expect that Paycom Software will post 5.82 EPS for the current year.

Paycom Software Dividend Announcement

The company also recently announced 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 0.87%. The ex-dividend date is Friday, May 24th. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Mather Group LLC. purchased a new stake in Paycom Software in the 1st quarter valued at approximately $26,000. Hexagon Capital Partners LLC lifted its holdings in shares of Paycom Software by 333.3% in 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 during the period. Palisade Asset Management LLC purchased a new stake in shares of Paycom Software in the first quarter valued at approximately $32,000. Cary Street Partners Investment Advisory LLC grew its holdings 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 acquiring an additional 71 shares during the period. Finally, Transcendent Capital Group LLC purchased a new position in Paycom Software in the fourth quarter worth $41,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

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.