StockNews.com Downgrades Paycom Software (NYSE:PAYC) to Hold

StockNews.com lowered shares of Paycom Software (NYSE:PAYC – Get Rating) from a buy rating to a hold rating in a research report report published on Monday.

A number of other research analysts also recently issued reports on PAYC. DA Davidson upgraded shares of Paycom Software from a neutral rating to a buy rating and set a $350.00 price target for the company in a research note on Thursday, March 30th. They noted that the move was a valuation call. Mizuho decreased their target price on Paycom Software from $350.00 to $300.00 in a research note on Wednesday, May 3rd. Needham & Company LLC reaffirmed a buy rating and issued a $450.00 price target on shares of Paycom Software in a report on Tuesday, March 28th. KeyCorp cut their price objective on shares of Paycom Software from $432.00 to $405.00 in a report on Wednesday, May 3rd. Finally, BMO Capital Markets boosted their price objective on shares of Paycom Software from $289.00 to $302.00 in a research report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Paycom Software has an average rating of Moderate Buy and a consensus target price of $368.53.

Paycom Software Trading Down 0.6 %

PAYC opened at $279.02 on Monday. Paycom Software has a 12 month low of $255.82 and a 12 month high of $402.78. The stock has a market capitalization of $16.82 billion, a price-to-earnings ratio of 52.35, a PEG ratio of 1.84 and a beta of 1.41. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.19 and a quick ratio of 1.19. The business has a fifty day moving average price of $285.56 and a 200 day moving average price of $302.54.

Paycom Software (NYSE:PAYC – Get Rating) last issued its quarterly earnings results on Tuesday, May 2nd. The software maker reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.06. Paycom Software had a net margin of 20.96% and a return on equity of 26.29%. The company had revenue of $451.64 million during the quarter, compared to the consensus estimate of $444.23 million. Sell-side analysts expect that Paycom Software will post 6.17 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 12th. Stockholders of record on Tuesday, May 30th will be paid a dividend of $0.375 per share. The ex-dividend date is Friday, May 26th. This represents a $1.50 annualized dividend and a dividend yield of 0.54%.

Insider Transactions at Paycom Software

In other news, Director Jason D. Clark sold 1,070 shares of the company’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $278.33, for a total transaction of $297,813.10. Following the completion of the sale, the director now owns 4,741 shares in the company, valued at $1,319,562.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 14.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PAYC. FMR LLC raised its holdings in Paycom Software by 73.4% during the first quarter. FMR LLC now owns 1,629,628 shares of the software maker’s stock worth $495,423,000 after purchasing an additional 689,600 shares in the last quarter. Morgan Stanley grew its holdings in Paycom Software by 147.5% during the fourth quarter. Morgan Stanley now owns 1,084,991 shares of the software maker’s stock worth $336,684,000 after acquiring an additional 646,679 shares during the period. Alyeska Investment Group L.P. grew its holdings in Paycom Software by 1,241.2% during the first quarter. Alyeska Investment Group L.P. now owns 375,523 shares of the software maker’s stock worth $114,163,000 after acquiring an additional 347,523 shares during the period. American Century Companies Inc. grew its holdings in Paycom Software by 62.3% during the first quarter. American Century Companies Inc. now owns 871,239 shares of the software maker’s stock worth $258,129,000 after acquiring an additional 334,363 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in Paycom Software by 482.7% during the fourth quarter. Alliancebernstein L.P. now owns 383,310 shares of the software maker’s stock worth $118,945,000 after acquiring an additional 317,527 shares during the period. 88.58% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Company Profile

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Paycom Software, Inc engages in the provision of cloud-based human capital management (HCM) software solutions delivered as Software-as-a-Service. It offers functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. Its solutions include talent acquisition, time and labor management, payroll, talent management, and human resource management.