Paycom Software (NYSE:PAYC – Free Report) had its price objective upped by JPMorgan Chase & Co. from $140.00 to $165.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the software maker’s stock.
PAYC has been the topic of a number of other research reports. TD Cowen lowered Paycom Software from an outperform rating to a market perform rating and dropped their target price for the company from $331.00 to $202.00 in a research report on Wednesday, November 1st. Jefferies Financial Group reissued a hold rating and issued a $195.00 target price on shares of Paycom Software in a research report on Friday, January 5th. Piper Sandler lifted their target price on Paycom Software from $185.00 to $190.00 and gave the company a neutral rating in a research report on Thursday. Oppenheimer reissued a market perform rating on shares of Paycom Software in a research report on Wednesday, November 1st. Finally, UBS Group lifted their target price on Paycom Software from $235.00 to $250.00 and gave the company a buy rating in a research report on Wednesday, January 10th. Seventeen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $262.33.
Paycom Software Stock Performance
Paycom Software (NYSE:PAYC – Get Free Report) last announced its earnings results on Wednesday, February 7th. The software maker reported $1.93 EPS for the quarter, topping the consensus estimate 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 20.12% and a return on equity of 24.60%. The business’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period last year, the company posted $1.38 EPS. On average, analysts expect that Paycom Software will post 6.25 earnings per share for the current fiscal year.
Paycom Software Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 18th. Shareholders of record on Monday, March 4th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Friday, March 1st. This represents a $1.50 annualized dividend and a dividend yield of 0.79%. Paycom Software’s dividend payout ratio is currently 25.42%.
Hedge Funds Weigh In On Paycom Software
Several institutional investors and hedge funds have recently modified their holdings of PAYC. Hexagon Capital Partners LLC grew its holdings in 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 in the last quarter. Fairfield Bush & CO. acquired a new position in Paycom Software in the 2nd quarter valued at $27,000. KB Financial Partners LLC acquired a new position in Paycom Software in the 1st quarter valued at $28,000. Clear Street Markets LLC grew its holdings in Paycom Software by 98.0% in the 1st quarter. Clear Street Markets LLC now owns 97 shares of the software maker’s stock valued at $29,000 after buying an additional 48 shares in the last quarter. Finally, Lindbrook Capital LLC grew its holdings in Paycom Software by 5,100.0% in the 2nd quarter. Lindbrook Capital LLC now owns 104 shares of the software maker’s stock valued at $33,000 after buying an additional 102 shares in the last quarter. 88.69% 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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