Paycom Software (NYSE:PAYC) Price Target Raised to $181.00

Paycom Software (NYSE:PAYC) had its target price increased by Barclays from $172.00 to $181.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has an equal weight rating on the software maker’s stock.

Several other research firms have also recently commented on PAYC. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. BMO Capital Markets boosted their target price on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday. StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Jefferies Financial Group boosted their price target on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday. Finally, Piper Sandler increased their price objective on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Paycom Software presently has a consensus rating of “Hold” and an average target price of $191.44.

Paycom Software Price Performance

NYSE:PAYC opened at $210.65 on Thursday. The stock’s 50-day moving average is $167.57 and its two-hundred day moving average is $163.17. 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. Paycom Software has a fifty-two week low of $139.50 and a fifty-two week high of $222.30.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, July 31st. The software maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. Paycom Software had a net margin of 25.78% and a return on equity of 32.90%. The firm had revenue of $437.51 million for the quarter, compared to the consensus estimate of $436.19 million. On average, equities research analysts anticipate that Paycom Software will post 6.64 earnings per share for the current year.

Paycom Software Announces Dividend

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

Insider Activity

In related news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 2,750,910 shares of the company’s stock, valued at approximately $474,339,411.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $172.43, for a total value of $336,238.50. Following the transaction, the chief executive officer now directly owns 2,750,910 shares in the company, valued at approximately $474,339,411.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Craig E. Boelte sold 11,882 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $155.98, for a total value of $1,853,354.36. Following the sale, the chief financial officer now owns 294,849 shares of the company’s stock, valued at approximately $45,990,547.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,906 shares of company stock valued at $11,731,540 over the last 90 days. 14.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Paycom Software

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