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 published on Thursday, Benzinga reports.

A number of other brokerages have also recently weighed in on PAYC. JPMorgan Chase & Co. upped their price target on Paycom Software from $140.00 to $165.00 and gave the company a neutral rating in a research report on Thursday, February 8th. Citigroup dropped their target price on shares of Paycom Software from $205.00 to $198.00 and set a neutral rating for the company in a research report on Wednesday, January 31st. UBS Group boosted their price target on shares of Paycom Software from $235.00 to $250.00 and gave the company a buy rating in a research report on Wednesday, January 10th. BTIG Research assumed coverage on shares of Paycom Software in a report on Tuesday, February 6th. They set a neutral rating for the company. Finally, Piper Sandler boosted their target price on Paycom Software from $185.00 to $190.00 and gave the stock a neutral rating in a report on Thursday, February 8th. Sixteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Paycom Software currently has a consensus rating of Hold and a consensus target price of $247.25.

Paycom Software Stock Up 2.7 %

PAYC traded up $4.57 during trading on Thursday, reaching $171.29. 1,207,026 shares of the company’s stock were exchanged, compared to its average volume of 838,850. The company has a market capitalization of $9.86 billion, a P/E ratio of 20.86, a PEG ratio of 2.84 and a beta of 1.17. The business has a 50 day moving average price of $189.34 and a 200 day moving average price of $194.47. Paycom Software has a fifty-two week low of $146.15 and a fifty-two week high of $374.04.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.15. The firm had revenue of $434.60 million during the quarter, compared to analyst estimates of $422.50 million. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.38 earnings per share. As a group, research analysts forecast that Paycom Software will post 5.73 EPS for the current year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Tuesday, May 28th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Friday, May 24th. Paycom Software’s dividend payout ratio is presently 18.27%.

Institutional Investors Weigh In On Paycom Software

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Oak Family Advisors LLC bought a new position in shares of Paycom Software during the 4th quarter worth approximately $2,994,000. Nordea Investment Management AB raised its position in shares of Paycom Software by 8.8% in the third quarter. Nordea Investment Management AB now owns 261,428 shares of the software maker’s stock valued at $68,912,000 after purchasing an additional 21,095 shares during the period. Kornitzer Capital Management Inc. KS acquired a new stake in shares of Paycom Software during the 4th quarter worth about $6,615,000. US Bancorp DE boosted its holdings in shares of Paycom Software by 25.8% during the 3rd quarter. US Bancorp DE now owns 91,950 shares of the software maker’s stock worth $23,840,000 after buying an additional 18,857 shares during the period. Finally, Lecap Asset Management Ltd. acquired a new position in shares of Paycom Software in the fourth quarter valued at approximately $2,028,000. Institutional investors own 87.77% of the company’s stock.

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.