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

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

A number of other brokerages also recently issued reports on PAYC. Piper Sandler lifted their price target on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. TD Cowen lifted their target price on Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Jefferies Financial Group increased their price target on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. BMO Capital Markets lifted their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Finally, Citigroup lowered their target price on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Paycom Software presently has an average rating of “Hold” and a consensus target price of $209.22.

Paycom Software Trading Down 1.1 %

Shares of Paycom Software stock opened at $209.72 on Thursday. Paycom Software has a 12 month low of $139.50 and a 12 month high of $242.74. The stock’s fifty day moving average price is $210.30 and its 200-day moving average price is $192.02. The firm has a market cap of $12.09 billion, a P/E ratio of 25.24, a P/E/G ratio of 2.81 and a beta of 1.15.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, beating the consensus estimate of $1.99 by $0.03. Paycom Software had a net margin of 25.78% and a return on equity of 32.90%. Analysts forecast that Paycom Software will post 6.88 earnings per share for the current year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Monday, March 10th. Paycom Software’s payout ratio is 18.05%.

Hedge Funds Weigh In On Paycom Software

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC boosted its holdings in shares of Paycom Software by 51.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker’s stock valued at $444,000 after acquiring an additional 905 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Paycom Software by 14.5% in the third quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock valued at $54,305,000 after purchasing an additional 41,187 shares during the last quarter. Principal Financial Group Inc. grew its position in Paycom Software by 9.3% during the 3rd quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock worth $10,962,000 after purchasing an additional 5,574 shares during the period. FMR LLC raised its stake in shares of Paycom Software by 55.0% during the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock valued at $167,889,000 after buying an additional 357,723 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Paycom Software by 3.5% in the 4th quarter. Nordea Investment Management AB now owns 204,377 shares of the software maker’s stock valued at $41,952,000 after buying an additional 6,916 shares during the period. Institutional investors and hedge funds 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.