Needham & Company LLC Reaffirms “Hold” Rating for Paycom Software (NYSE:PAYC)

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

A number of other research analysts have also weighed in on PAYC. Barclays decreased their target price on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Citigroup decreased their price target on Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Jefferies Financial Group boosted their price target on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Mizuho boosted their target price on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Finally, Piper Sandler increased their price objective 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. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Paycom Software presently has an average rating of “Hold” and an average price target of $209.22.

Paycom Software Stock Down 1.1 %

PAYC opened at $209.72 on Thursday. The firm’s fifty day simple moving average is $210.30 and its two-hundred day simple moving average is $192.02. Paycom Software has a 52-week low of $139.50 and a 52-week high of $242.74. The company has a market cap of $12.09 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 2.81 and a beta of 1.15.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.03. Paycom Software had a return on equity of 32.90% and a net margin of 25.78%. On average, research analysts forecast that Paycom Software will post 6.88 EPS for the current year.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Monday, March 10th. Paycom Software’s dividend payout ratio is currently 18.05%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PAYC. Glass Jacobson Investment Advisors llc grew its holdings in shares of Paycom Software by 746.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker’s stock worth $26,000 after buying an additional 112 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in shares of Paycom Software during the fourth quarter worth about $30,000. Brooklyn Investment Group purchased a new position in shares of Paycom Software during the 3rd quarter worth approximately $28,000. Pin Oak Investment Advisors Inc. lifted its holdings in Paycom Software by 73.3% in the third quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock valued at $30,000 after acquiring an additional 77 shares during the period. Finally, IFP Advisors Inc lifted its stake in shares of Paycom Software by 635.7% in the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock valued at $43,000 after purchasing an additional 178 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

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.