Paycom Software (NYSE:PAYC) Price Target Raised to $197.00

Paycom Software (NYSE:PAYC) had its target price upped by BMO Capital Markets from $183.00 to $197.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a market perform rating on the software maker’s stock.

Several other equities research analysts have also weighed in on the stock. TD Cowen increased their target price on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Piper Sandler raised their price objective on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Jefferies Financial Group raised their price target on Paycom Software from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Paycom Software currently has a consensus rating of “Hold” and an average price target of $191.44.

Paycom Software Price Performance

Shares of PAYC stock opened at $210.65 on Thursday. The stock has a market cap of $12.10 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 2.97 and a beta of 1.13. The stock has a 50-day moving average of $167.57 and a 200-day moving average of $163.00. Paycom Software has a one year low of $139.50 and a one year high of $222.30.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.71%. The ex-dividend date is Monday, November 25th. Paycom Software’s payout ratio is 18.05%.

Insider Activity at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $172.43, for a total transaction of $336,238.50. Following the completion of the transaction, the chief executive officer now directly owns 2,750,910 shares in the company, valued at $474,339,411.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $172.43, for a total transaction of $336,238.50. Following the sale, the chief executive officer now owns 2,750,910 shares in the company, valued at approximately $474,339,411.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bradley Scott Smith sold 1,524 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $157.62, for a total value of $240,212.88. Following the completion of the transaction, the insider now owns 14,769 shares of the company’s stock, valued at approximately $2,327,889.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,956 shares of company stock valued at $11,418,682. Corporate insiders own 14.50% of the company’s stock.

Institutional Trading of Paycom Software

Several institutional investors and hedge funds have recently added to or reduced their stakes in PAYC. Covestor Ltd grew its position in shares of Paycom Software by 35.2% in the 3rd quarter. Covestor Ltd now owns 1,144 shares of the software maker’s stock valued at $190,000 after acquiring an additional 298 shares during the period. Atria Investments Inc lifted its stake in Paycom Software by 36.2% in the 3rd quarter. Atria Investments Inc now owns 17,327 shares of the software maker’s stock valued at $2,886,000 after purchasing an additional 4,601 shares during the last quarter. Verdence Capital Advisors LLC grew its holdings in Paycom Software by 90.1% during the third quarter. Verdence Capital Advisors LLC now owns 7,414 shares of the software maker’s stock worth $1,235,000 after purchasing an additional 3,514 shares during the period. SpiderRock Advisors LLC acquired a new position in Paycom Software during the third quarter worth approximately $555,000. Finally, CWA Asset Management Group LLC bought a new stake in Paycom Software in the third quarter valued at approximately $219,000. 87.77% of the stock is owned by institutional investors.

Paycom Software Company Profile

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.