TD Cowen Cuts Paycom Software (NYSE:PAYC) Price Target to $147.00

Paycom Software (NYSE:PAYCFree Report) had its price target cut by TD Cowen from $170.00 to $147.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a hold rating on the software maker’s stock.

A number of other equities research analysts have also weighed in on the stock. William Blair restated a market perform rating on shares of Paycom Software in a report on Thursday, May 2nd. Mizuho cut their price objective on shares of Paycom Software from $185.00 to $170.00 and set a neutral rating on the stock in a report on Monday, May 6th. Needham & Company LLC reiterated a hold rating on shares of Paycom Software in a report on Thursday, May 2nd. Barclays cut their price target on shares of Paycom Software from $193.00 to $184.00 and set an equal weight rating on the stock in a report on Thursday, May 2nd. Finally, BMO Capital Markets dropped their target price on shares of Paycom Software from $200.00 to $190.00 and set a market perform rating on the stock in a research report on Thursday, May 2nd. Sixteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $240.94.

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Paycom Software Trading Up 1.2 %

PAYC opened at $147.40 on Thursday. The company has a market cap of $8.57 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 2.25 and a beta of 1.17. The company has a fifty day moving average price of $167.91 and a two-hundred day moving average price of $185.05. Paycom Software has a 1-year low of $140.12 and a 1-year high of $374.04.

Paycom Software (NYSE:PAYCGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The software maker reported $4.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $2.29. The business had revenue of $499.88 million for the quarter, compared to analyst estimates of $495.89 million. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. On average, research analysts forecast that Paycom Software will post 6.26 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Tuesday, May 28th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Friday, May 24th. Paycom Software’s dividend payout ratio is currently 18.27%.

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $179.78, for a total value of $350,571.00. Following the completion of the transaction, the chief executive officer now owns 3,090,008 shares in the company, valued at $555,521,638.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $179.78, for a total transaction of $350,571.00. Following the sale, the chief executive officer now owns 3,090,008 shares in the company, valued at $555,521,638.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Amy Vickroy sold 1,381 shares of Paycom Software stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $143.39, for a total value of $198,021.59. Following the completion of the transaction, the executive vice president now owns 19,962 shares of the company’s stock, valued at $2,862,351.18. The disclosure for this sale can be found here. Insiders have sold a total of 21,787 shares of company stock valued at $3,430,426 over the last three months. 14.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Paycom Software

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Rafferty Asset Management LLC increased its holdings in shares of Paycom Software by 5.4% in the third quarter. Rafferty Asset Management LLC now owns 5,992 shares of the software maker’s stock worth $1,554,000 after purchasing an additional 308 shares during the period. QRG Capital Management Inc. bought a new position in Paycom Software in the 3rd quarter worth about $474,000. Envestnet Asset Management Inc. raised its holdings in shares of Paycom Software by 42.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 222,863 shares of the software maker’s stock valued at $57,782,000 after acquiring an additional 65,924 shares in the last quarter. Invesco Ltd. boosted its position in shares of Paycom Software by 22.7% during the 3rd quarter. Invesco Ltd. now owns 485,267 shares of the software maker’s stock valued at $125,815,000 after acquiring an additional 89,734 shares during the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in shares of Paycom Software during the third quarter worth about $162,000. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Company Profile

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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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Analyst Recommendations for Paycom Software (NYSE:PAYC)

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