Jefferies Financial Group Cuts Paycom Software (NYSE:PAYC) Price Target to $145.00

Paycom Software (NYSE:PAYC) had its price objective reduced by Jefferies Financial Group from $170.00 to $145.00 in a research report report published on Monday, Benzinga reports. Jefferies Financial Group currently has a hold rating on the software maker’s stock.

A number of other research analysts have also recently issued reports on PAYC. StockNews.com upgraded shares of Paycom Software from a hold rating to a buy rating in a research note on Tuesday, May 28th. William Blair restated a market perform rating on shares of Paycom Software in a research report on Thursday, May 2nd. Needham & Company LLC reissued a hold rating on shares of Paycom Software in a research note on Thursday, May 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Paycom Software from $165.00 to $175.00 and gave the stock a neutral rating in a research report on Thursday, May 2nd. Finally, TD Cowen decreased their price objective on Paycom Software from $170.00 to $147.00 and set a hold rating on the stock in a research report on Thursday, June 20th. Sixteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Paycom Software presently has an average rating of Hold and a consensus target price of $237.81.

Paycom Software Trading Up 0.5 %

PAYC opened at $141.74 on Monday. The stock’s 50 day simple moving average is $164.20 and its 200-day simple moving average is $183.85. The stock has a market cap of $8.24 billion, a PE ratio of 17.26, a P/E/G ratio of 2.15 and a beta of 1.17. Paycom Software has a 1 year low of $139.69 and a 1 year high of $374.04.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, May 1st. The software maker reported $4.25 earnings per share 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 business had revenue of $499.88 million for the quarter, compared to analyst estimates of $495.89 million. Equities analysts forecast that Paycom Software will post 6.37 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Tuesday, May 28th were paid a $0.375 dividend. The ex-dividend date was Friday, May 24th. This represents a $1.50 annualized dividend and a yield of 1.06%. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

Insider Transactions at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $140.46, for a total value of $273,897.00. Following the completion of the sale, the chief executive officer now owns 3,041,258 shares of the company’s stock, valued at approximately $427,175,098.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Paycom Software news, EVP Amy Vickroy sold 1,381 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $143.39, for a total transaction of $198,021.59. Following the sale, the executive vice president now directly owns 19,962 shares in the company, valued at $2,862,351.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $140.46, for a total transaction of $273,897.00. Following the completion of the transaction, the chief executive officer now directly owns 3,041,258 shares in the company, valued at $427,175,098.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,637 shares of company stock valued at $4,269,160. 14.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Paycom Software

Hedge funds and other institutional investors have recently modified their holdings of the business. LPL Financial LLC boosted its position in Paycom Software by 27.7% in the third quarter. LPL Financial LLC now owns 29,542 shares of the software maker’s stock valued at $7,659,000 after buying an additional 6,405 shares in the last quarter. Mariner LLC boosted its holdings in shares of Paycom Software by 8.6% during the 3rd quarter. Mariner LLC now owns 4,945 shares of the software maker’s stock valued at $1,282,000 after acquiring an additional 393 shares in the last quarter. Northern Trust Corp grew its position in Paycom Software by 3.8% during the 3rd quarter. Northern Trust Corp now owns 538,282 shares of the software maker’s stock worth $139,560,000 after acquiring an additional 19,900 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in Paycom Software by 83.5% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock worth $40,000 after purchasing an additional 71 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its position in Paycom Software by 49.0% in the third quarter. Parkside Financial Bank & Trust now owns 860 shares of the software maker’s stock valued at $223,000 after purchasing an additional 283 shares during the last quarter. Institutional investors 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.