JPMorgan Chase & Co. Issues Positive Forecast for Paycom Software (NYSE:PAYC) Stock Price

Paycom Software (NYSE:PAYC) had its price objective lifted by JPMorgan Chase & Co. from $185.00 to $200.00 in a research report report published on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the software maker’s stock.

Several other research firms have also issued reports on PAYC. Citigroup cut their price target on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. BMO Capital Markets upped their target price on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Barclays decreased their price target on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Jefferies Financial Group boosted their price target on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Finally, TD Cowen upped their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a report on Monday, December 9th. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Paycom Software has a consensus rating of “Hold” and a consensus price target of $205.56.

Paycom Software Price Performance

Shares of NYSE PAYC opened at $212.23 on Thursday. Paycom Software has a 1-year low of $139.50 and a 1-year high of $242.74. The business has a fifty day moving average price of $211.23 and a 200 day moving average price of $191.38. The stock has a market capitalization of $12.24 billion, a P/E ratio of 25.54, a price-to-earnings-growth ratio of 2.81 and a beta of 1.15.

Paycom Software (NYSE:PAYC) last released 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%. As a group, equities research analysts anticipate that Paycom Software will post 6.88 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Monday, March 10th. Paycom Software’s payout ratio is 18.05%.

Hedge Funds Weigh In On Paycom Software

Several institutional investors and hedge funds have recently modified their holdings of the stock. Glass Jacobson Investment Advisors llc raised its position in Paycom Software by 746.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker’s stock valued at $26,000 after acquiring an additional 112 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Paycom Software in the 3rd quarter valued at $28,000. Pin Oak Investment Advisors Inc. increased its holdings in Paycom Software by 73.3% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after acquiring an additional 77 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Paycom Software during the fourth quarter worth $30,000. Finally, First Horizon Advisors Inc. raised its position in shares of Paycom Software by 821.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock worth $35,000 after purchasing an additional 189 shares during the last quarter. 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.