Paycom Software (NYSE:PAYC) Price Target Lowered to $193.00 at Citigroup

Paycom Software (NYSE:PAYC) had its price target reduced by Citigroup from $196.00 to $193.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a neutral rating on the software maker’s stock.

Several other research firms also recently commented on PAYC. Barclays cut 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 report on Thursday. Needham & Company LLC reiterated a hold rating on shares of Paycom Software in a research report on Thursday. Jefferies Financial Group reiterated a hold rating and issued a $195.00 price objective on shares of Paycom Software in a report on Friday, January 5th. UBS Group raised their price objective on Paycom Software from $235.00 to $250.00 and gave the company a buy rating in a report on Wednesday, January 10th. Finally, BTIG Research started 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $247.25.

Paycom Software Stock Up 2.7 %

NYSE PAYC traded up $4.57 on Thursday, reaching $171.29. The company had a trading volume of 1,207,026 shares, compared to its average volume of 838,850. The stock has a market capitalization of $9.86 billion, a P/E ratio of 20.86, a P/E/G ratio of 2.84 and a beta of 1.17. The company’s fifty day moving average is $189.34 and its 200 day moving average 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, beating 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 company had revenue of $434.60 million during the quarter, compared to analyst estimates of $422.50 million. During the same quarter in the prior year, the business earned $1.38 earnings per share. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, research analysts expect that Paycom Software will post 5.73 EPS for the current year.

Paycom Software Announces Dividend

The firm 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 dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $1.50 annualized dividend and a dividend yield of 0.88%. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

Institutional Trading of Paycom Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its holdings in Paycom Software by 16,173.6% in the 4th quarter. International Assets Investment Management LLC now owns 787,803 shares of the software maker’s stock worth $162,855,000 after purchasing an additional 782,962 shares in the last quarter. ValueAct Holdings L.P. bought a new stake in Paycom Software during the 4th quarter valued at about $125,686,000. Meritage Group LP purchased a new position in Paycom Software in the third quarter worth about $103,800,000. Boston Trust Walden Corp bought a new position in shares of Paycom Software in the fourth quarter worth approximately $48,865,000. Finally, DSM Capital Partners LLC purchased a new stake in shares of Paycom Software during the third quarter valued at approximately $60,077,000. 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.