Paycom Software (NYSE:PAYC) Stock Rating Reaffirmed by Needham & Company LLC

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

A number of other research firms also recently commented on PAYC. StockNews.com downgraded shares of Paycom Software from a buy rating to a hold rating in a research report on Monday, July 15th. Jefferies Financial Group lowered their target price on Paycom Software from $170.00 to $145.00 and set a hold rating for the company in a report on Monday, June 24th. BMO Capital Markets reduced their price target on Paycom Software from $200.00 to $190.00 and set a market perform rating for the company in a research report on Thursday, May 2nd. Barclays dropped their price objective on Paycom Software from $184.00 to $161.00 and set an equal weight rating on the stock in a research report on Tuesday, July 16th. Finally, Mizuho reduced their target price on shares of Paycom Software from $185.00 to $170.00 and set a neutral rating for the company in a report on Monday, May 6th. Seventeen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $178.33.

Paycom Software Stock Performance

PAYC stock traded down $6.39 during midday trading on Thursday, reaching $157.92. The company’s stock had a trading volume of 5,881 shares, compared to its average volume of 848,388. The firm has a market capitalization of $9.18 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 2.71 and a beta of 1.16. Paycom Software has a 1 year low of $139.50 and a 1 year high of $299.00. The stock has a fifty day simple moving average of $150.75 and a two-hundred day simple moving average of $174.93.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Monday, August 26th will be paid a dividend of $0.375 per share. The ex-dividend date is Monday, August 26th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.95%. Paycom Software’s payout ratio is 18.27%.

Insider Activity at Paycom Software

In other news, insider Jason D. Clark sold 906 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $143.61, for a total value of $130,110.66. Following the completion of the sale, the insider now directly owns 43,367 shares in the company, valued at $6,227,934.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jason D. Clark sold 906 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $143.61, for a total value of $130,110.66. Following the transaction, the insider now owns 43,367 shares in the company, valued at $6,227,934.87. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $140.20, for a total transaction of $273,390.00. Following the sale, the chief executive officer now directly owns 3,023,708 shares in the company, valued at approximately $423,923,861.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,887 shares of company stock worth $8,722,999. 14.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Paycom Software

Institutional investors have recently modified their holdings of the business. Raymond James & Associates increased its position in shares of Paycom Software by 25.4% in the 4th quarter. Raymond James & Associates now owns 15,614 shares of the software maker’s stock valued at $3,228,000 after purchasing an additional 3,164 shares during the last quarter. Fifth Third Bancorp increased its holdings in Paycom Software by 37.9% in the fourth quarter. Fifth Third Bancorp now owns 1,568 shares of the software maker’s stock valued at $324,000 after buying an additional 431 shares during the last quarter. Arizona State Retirement System raised its stake in Paycom Software by 5.2% in the fourth quarter. Arizona State Retirement System now owns 14,957 shares of the software maker’s stock valued at $3,092,000 after buying an additional 746 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in Paycom Software by 11.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 22,547 shares of the software maker’s stock worth $4,680,000 after buying an additional 2,307 shares during the last quarter. Finally, Boston Trust Walden Corp acquired a new position in shares of Paycom Software during the 4th quarter worth about $48,865,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

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.