Paycom Software, Inc. (NYSE:PAYC) Receives $202.56 Average Target Price from Analysts

Paycom Software, Inc. (NYSE:PAYC) has been assigned a consensus recommendation of “Hold” from the twelve ratings firms that are presently covering the company, MarketBeat reports. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $202.56.

Several analysts recently weighed in on PAYC shares. StockNews.com raised Paycom Software from a “hold” rating to a “buy” rating in a report on Monday, December 16th. TD Cowen boosted their target price on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Barclays lifted their price target on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Piper Sandler increased their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group lifted their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, October 31st.

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $162.17, for a total transaction of $316,231.50. Following the completion of the sale, the chief executive officer now owns 2,780,160 shares of the company’s stock, valued at approximately $450,858,547.20. The trade was a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 33,150 shares of company stock worth $6,130,586 over the last 90 days. 14.50% of the stock is owned by insiders.

Institutional Trading of Paycom Software

Several hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its holdings in Paycom Software by 51.4% in the third quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker’s stock valued at $444,000 after acquiring an additional 905 shares during the period. Profund Advisors LLC acquired a new stake in shares of Paycom Software during the 2nd quarter valued at about $589,000. Sylebra Capital LLC increased its stake in shares of Paycom Software by 53.9% in the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock valued at $279,996,000 after purchasing an additional 685,190 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Paycom Software by 9.3% in the 3rd quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock worth $10,962,000 after purchasing an additional 5,574 shares during the period. Finally, FMR LLC boosted its position in Paycom Software by 55.0% during the third quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after purchasing an additional 357,723 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Stock Performance

PAYC opened at $201.40 on Friday. Paycom Software has a 52-week low of $139.50 and a 52-week high of $242.74. The business’s 50-day simple moving average is $218.36 and its 200 day simple moving average is $179.62. The firm has a market capitalization of $11.61 billion, a PE ratio of 24.24, a PEG ratio of 3.12 and a beta of 1.11.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 25th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

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.