Paycom Software, Inc. (NYSE:PAYC) Given Average Recommendation of “Hold” by Brokerages

Paycom Software, Inc. (NYSE:PAYC) has received an average rating of “Hold” from the twelve research firms that are presently covering the company, Marketbeat.com reports. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $193.67.

A number of research analysts have recently issued reports on PAYC shares. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Piper Sandler increased their target price on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Barclays lifted their price target on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Citigroup increased their price objective on shares of Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group boosted their target price on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st.

Paycom Software Trading Down 2.1 %

Paycom Software stock opened at $219.88 on Friday. The stock has a 50-day moving average price of $178.94 and a two-hundred day moving average price of $165.73. Paycom Software has a 12 month low of $139.50 and a 12 month high of $233.69. The company has a market capitalization of $12.68 billion, a PE ratio of 26.46, a P/E/G ratio of 3.05 and a beta of 1.14.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Monday, November 25th. Paycom Software’s dividend payout ratio is presently 18.05%.

Insider Activity at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $162.27, for a total value of $316,426.50. Following the completion of the transaction, the chief executive officer now directly owns 2,961,308 shares of the company’s stock, valued at approximately $480,531,449.16. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 60,450 shares of company stock worth $10,672,818. Insiders own 14.50% of the company’s stock.

Institutional Investors Weigh In On Paycom Software

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sylebra Capital LLC boosted its holdings in Paycom Software by 0.3% in the 3rd quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker’s stock valued at $326,888,000 after purchasing an additional 5,000 shares during the period. M&T Bank Corp raised its position in shares of Paycom Software by 27.0% in the third quarter. M&T Bank Corp now owns 3,534 shares of the software maker’s stock worth $589,000 after buying an additional 751 shares in the last quarter. Barclays PLC boosted its stake in Paycom Software by 0.6% during the third quarter. Barclays PLC now owns 109,636 shares of the software maker’s stock valued at $18,261,000 after buying an additional 617 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in Paycom Software by 1.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 14,955 shares of the software maker’s stock valued at $2,491,000 after buying an additional 141 shares during the period. Finally, Main Management ETF Advisors LLC purchased a new position in Paycom Software during the third quarter worth about $905,000. 87.77% of the stock is currently 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.