TD Cowen Raises Paycom Software (NYSE:PAYC) Price Target to $171.00

Paycom Software (NYSE:PAYC) had its price objective boosted by TD Cowen from $147.00 to $171.00 in a research report released on Thursday, Benzinga reports. TD Cowen currently has a hold rating on the software maker’s stock.

PAYC has been the subject of several other research reports. BMO Capital Markets cut their price target on shares of Paycom Software from $200.00 to $190.00 and set a market perform rating for the company in a report on Thursday, May 2nd. StockNews.com cut shares of Paycom Software from a buy rating to a hold rating in a research report on Monday, July 15th. Barclays increased their target price on shares of Paycom Software from $161.00 to $167.00 and gave the stock an equal weight rating in a research note on Thursday. Needham & Company LLC reissued a hold rating on shares of Paycom Software in a research report on Thursday. Finally, William Blair reissued a market perform rating on shares of Paycom Software in a research report on Thursday, May 2nd. Seventeen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $178.33.

Paycom Software Stock Down 2.9 %

PAYC stock traded down $4.72 during trading on Thursday, hitting $159.59. The company had a trading volume of 110,906 shares, compared to its average volume of 849,093. The firm has a market capitalization of $9.27 billion, a P/E ratio of 20.01, a PEG ratio of 2.71 and a beta of 1.16. The company has a 50 day simple moving average of $150.75 and a 200-day simple moving average of $174.93. Paycom Software has a 52-week low of $139.50 and a 52-week high of $299.00.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Monday, August 26th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Monday, August 26th. Paycom Software’s dividend payout ratio is 18.27%.

Insider Activity

In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $180.82, for a total value of $352,599.00. Following the completion of the sale, the chief executive officer now directly owns 3,091,958 shares of the company’s stock, valued at approximately $559,087,845.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Amy Vickroy sold 1,381 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $143.39, for a total transaction of $198,021.59. Following the completion of the sale, the executive vice president now directly owns 19,962 shares of the company’s stock, valued at approximately $2,862,351.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $180.82, for a total value of $352,599.00. Following the transaction, the chief executive officer now directly owns 3,091,958 shares in the company, valued at approximately $559,087,845.56. The disclosure for this sale can be found here. Insiders sold a total of 56,887 shares of company stock valued at $8,722,999 over the last three months. Insiders own 14.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. HBK Sorce Advisory LLC grew its holdings in Paycom Software by 5.9% in the 4th quarter. HBK Sorce Advisory LLC now owns 986 shares of the software maker’s stock valued at $204,000 after buying an additional 55 shares during the last quarter. Empirical Finance LLC lifted its position in shares of Paycom Software by 3.9% in the 1st quarter. Empirical Finance LLC now owns 1,580 shares of the software maker’s stock worth $314,000 after acquiring an additional 60 shares during the period. Optas LLC lifted its position in shares of Paycom Software by 6.1% in the 1st quarter. Optas LLC now owns 1,059 shares of the software maker’s stock worth $211,000 after acquiring an additional 61 shares during the period. Wahed Invest LLC lifted its position in shares of Paycom Software by 7.9% in the 4th quarter. Wahed Invest LLC now owns 877 shares of the software maker’s stock worth $181,000 after acquiring an additional 64 shares during the period. Finally, Court Place Advisors LLC lifted its position in shares of Paycom Software by 3.3% in the 4th quarter. Court Place Advisors LLC now owns 2,065 shares of the software maker’s stock worth $427,000 after acquiring an additional 65 shares during the period. 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.