Paycom Software (NYSE:PAYC) Given New $181.00 Price Target at Barclays

01 Nov 2024, 11:26 by Amy Steele · The Cerbat Gem

Paycom Software (NYSE:PAYC – Free Report) had its target price lifted by Barclays from $172.00 to $181.00 in a research report sent to investors on Thursday, Benzinga reports. Barclays currently has an equal weight rating on the software maker’s stock.

Several other research firms have also recently commented on PAYC. Piper Sandler boosted their price target on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Jefferies Financial Group boosted their price objective on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Finally, BMO Capital Markets raised their price target on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a report on Thursday. Seventeen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $186.92.

Check Out Our Latest Report on Paycom Software

Paycom Software Trading Up 0.1 %

Shares of PAYC traded up $0.16 during mid-day trading on Thursday, reaching $209.19. The company had a trading volume of 235,412 shares, compared to its average volume of 814,477. The firm has a fifty day simple moving average of $166.62 and a 200-day simple moving average of $163.23. Paycom Software has a fifty-two week low of $139.50 and a fifty-two week high of $222.30. The stock has a market cap of $12.01 billion, a price-to-earnings ratio of 25.15, a price-to-earnings-growth ratio of 2.45 and a beta of 1.17.

Paycom Software (NYSE:PAYC – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The software maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.13 by $0.07. Paycom Software had a return on equity of 33.34% and a net margin of 25.78%. The company had revenue of $437.51 million for the quarter, compared to analyst estimates of $436.19 million. As a group, equities analysts predict that Paycom Software will post 6.64 EPS for the current fiscal year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is currently 18.05%.

Insider Transactions at Paycom Software

In other Paycom Software news, CFO Craig E. Boelte sold 11,882 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $155.98, for a total value of $1,853,354.36. Following the completion of the sale, the chief financial officer now owns 294,849 shares of the company’s stock, valued at $45,990,547.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Paycom Software news, CFO Craig E. Boelte sold 11,882 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the completion of the transaction, the chief financial officer now owns 294,849 shares of the company’s stock, valued at $45,990,547.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $158.31, for a total value of $308,704.50. Following the transaction, the chief executive officer now directly owns 2,984,708 shares of the company’s stock, valued at $472,509,123.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,906 shares of company stock valued at $11,731,540 in the last three months. Corporate insiders own 14.50% of the company’s stock.

Institutional Trading of Paycom Software

A number of hedge funds have recently bought and sold shares of PAYC. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Paycom Software by 29.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock worth $12,848,000 after purchasing an additional 14,670 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Paycom Software by 17.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 59,242 shares of the software maker’s stock worth $11,790,000 after acquiring an additional 8,927 shares during the last quarter. Sylebra Capital LLC acquired a new stake in Paycom Software in the first quarter worth about $253,196,000. Profund Advisors LLC bought a new position in shares of Paycom Software in the 2nd quarter valued at about $589,000. Finally, BOKF NA grew its position in shares of Paycom Software by 453.0% during the 1st quarter. BOKF NA now owns 9,219 shares of the software maker’s stock worth $1,828,000 after buying an additional 7,552 shares during the period. 87.77% of the stock is owned by institutional investors.

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