JPMorgan Chase & Co. Issues Positive Forecast for Paycom Software (NYSE:PAYC) Stock Price

Paycom Software (NYSE:PAYC) had its price target hoisted by JPMorgan Chase & Co. from $185.00 to $200.00 in a report issued on Thursday,Benzinga reports. They currently have a neutral rating on the software maker’s stock.

PAYC has been the subject of a number of other research reports. Citigroup lowered their price target on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Piper Sandler raised their price objective on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Stifel Nicolaus cut their target price on Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a research report on Thursday. StockNews.com upgraded Paycom Software from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. Finally, TD Cowen boosted their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $205.56.

Paycom Software Price Performance

Paycom Software stock 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’s 50 day moving average price is $211.23 and its 200-day moving average price is $191.38. The stock has a market cap of $12.24 billion, a P/E ratio of 25.54, a PEG ratio of 2.81 and a beta of 1.15.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a net margin of 25.78% and a return on equity of 32.90%. As a group, equities analysts expect that Paycom Software will post 6.88 EPS for the current year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders 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 yield of 0.71%. Paycom Software’s dividend payout ratio (DPR) is 18.05%.

Hedge Funds Weigh In On Paycom Software

A number of institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its holdings in Paycom Software by 51.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker’s stock worth $444,000 after purchasing an additional 905 shares during the period. JPMorgan Chase & Co. grew its position in shares of Paycom Software by 14.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock worth $54,305,000 after buying an additional 41,187 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Paycom Software by 9.3% during the third quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock valued at $10,962,000 after buying an additional 5,574 shares during the period. FMR LLC raised its holdings in shares of Paycom Software by 55.0% in the third quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock valued at $167,889,000 after acquiring an additional 357,723 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in Paycom Software by 3.5% in the fourth quarter. Nordea Investment Management AB now owns 204,377 shares of the software maker’s stock worth $41,952,000 after acquiring an additional 6,916 shares during the period. 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.