Paycom Software (NYSE:PAYC) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Paycom Software (NYSE:PAYC) in a research note issued to investors on Thursday,Benzinga reports.

PAYC has been the topic of a number of other research reports. Piper Sandler upped their price target on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. StockNews.com upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a report on Friday, January 31st. TD Cowen lifted their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Barclays reduced their target price on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Finally, BMO Capital Markets lifted their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $205.56.

Paycom Software Trading Up 2.5 %

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 firm has a market cap 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. The business’s 50 day moving average is $211.23 and its 200-day moving average is $191.38.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, topping 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%. Analysts forecast that Paycom Software will post 6.88 EPS for the current year.

Paycom Software Announces Dividend

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

Hedge Funds Weigh In On Paycom Software

Institutional investors and hedge funds have recently made changes to their positions in the business. Glass Jacobson Investment Advisors llc grew its position in Paycom Software by 746.7% in the 4th 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 during the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in shares of Paycom Software in the 4th quarter valued at $30,000. Brooklyn Investment Group bought a new position in Paycom Software in the third quarter worth about $28,000. Pin Oak Investment Advisors Inc. raised its stake in shares of Paycom Software by 73.3% during 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. Finally, IFP Advisors Inc boosted its position in shares of Paycom Software by 635.7% in the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock worth $43,000 after purchasing an additional 178 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

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.