Paycom Software (NYSE:PAYC – Free Report) had its target price cut by Jefferies Financial Group from $170.00 to $145.00 in a research report report published on Monday morning, Benzinga reports. They currently have a hold rating on the software maker’s stock.
A number of other research analysts also recently weighed in on PAYC. William Blair restated a market perform rating on shares of Paycom Software in a research note on Thursday, May 2nd. BMO Capital Markets lowered their target price on shares of Paycom Software from $200.00 to $190.00 and set a market perform rating on the stock in a report on Thursday, May 2nd. Needham & Company LLC reaffirmed a hold rating on shares of Paycom Software in a research report on Thursday, May 2nd. Citigroup decreased their price objective on shares of Paycom Software from $193.00 to $162.00 and set a neutral rating for the company in a research report on Tuesday, June 18th. Finally, Barclays dropped their target price on shares of Paycom Software from $193.00 to $184.00 and set an equal weight rating on the stock in a report on Thursday, May 2nd. Sixteen research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Paycom Software has an average rating of Hold and a consensus target price of $237.81.
Get Our Latest Report on Paycom Software
Paycom Software Stock Down 1.6 %
Paycom Software (NYSE:PAYC – Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The software maker reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $2.29. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. The firm had revenue of $499.88 million for the quarter, compared to analyst estimates of $495.89 million. As a group, sell-side analysts expect that Paycom Software will post 6.26 EPS for the current year.
Paycom Software Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Friday, May 24th. Paycom Software’s dividend payout ratio is currently 18.27%.
Insider Activity
In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $180.82, for a total transaction of $352,599.00. Following the transaction, the chief executive officer now directly owns 3,091,958 shares of the company’s stock, valued at $559,087,845.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $180.82, for a total value of $352,599.00. Following the completion of the sale, the chief executive officer now directly owns 3,091,958 shares in the company, valued at $559,087,845.56. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jason D. Clark sold 906 shares of Paycom Software stock in a transaction on Friday, June 14th. The shares were sold at an average price of $143.61, for a total value of $130,110.66. Following the completion of the transaction, the insider now directly owns 43,367 shares of the company’s stock, valued at $6,227,934.87. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,737 shares of company stock valued at $3,711,577. 14.50% of the stock is owned by company insiders.
Institutional Investors Weigh In On Paycom Software
Large investors have recently bought and sold shares of the company. Mather Group LLC. acquired a new stake in shares of Paycom Software in the 1st quarter valued at $26,000. Hexagon Capital Partners LLC lifted its position in shares of Paycom Software by 333.3% during the 4th quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock worth $27,000 after buying an additional 100 shares during the last quarter. Palisade Asset Management LLC acquired a new stake in Paycom Software in the first quarter valued at about $32,000. Cary Street Partners Investment Advisory LLC grew its position in Paycom Software by 83.5% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock valued at $40,000 after acquiring an additional 71 shares during the last quarter. Finally, Transcendent Capital Group LLC acquired a new position in Paycom Software during the fourth quarter worth about $41,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.
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.
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