Mizuho Issues Positive Forecast for Paycom Software (NYSE:PAYC) Stock Price

Paycom Software (NYSE:PAYC) had its target price increased by Mizuho from $190.00 to $210.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the software maker’s stock.

PAYC has been the topic of a number of other reports. Jefferies Financial Group boosted their price objective on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Piper Sandler boosted their price target on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. TD Cowen upped their price target on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research note on Monday, December 9th. BMO Capital Markets lifted their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Finally, Barclays increased their target price on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Paycom Software currently has an average rating of “Hold” and a consensus target price of $202.56.

Paycom Software Trading Down 2.3 %

Shares of NYSE PAYC opened at $234.50 on Friday. The stock has a fifty day simple moving average of $204.13 and a two-hundred day simple moving average of $173.15. Paycom Software has a 1-year low of $139.50 and a 1-year high of $242.74. The firm has a market cap of $13.52 billion, a price-to-earnings ratio of 28.22, a price-to-earnings-growth ratio of 3.20 and a beta of 1.11.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was Monday, November 25th. Paycom Software’s dividend payout ratio is currently 18.05%.

Insider Buying and Selling

In other news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $162.17, for a total value 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. This represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders sold 48,750 shares of company stock worth $8,771,880. Corporate insiders own 14.50% of the company’s stock.

Institutional Trading of Paycom Software

Institutional investors have recently added to or reduced their stakes in the business. Private Trust Co. NA grew its position in Paycom Software by 11.2% during the 3rd quarter. Private Trust Co. NA now owns 526 shares of the software maker’s stock worth $88,000 after acquiring an additional 53 shares during the last quarter. Wrapmanager Inc. grew its holdings in shares of Paycom Software by 2.6% in the third quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock worth $362,000 after purchasing an additional 56 shares during the last quarter. Andina Capital Management LLC raised its holdings in Paycom Software by 4.0% during the 3rd quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock valued at $275,000 after buying an additional 63 shares during the last quarter. Davis Investment Partners LLC boosted its holdings in shares of Paycom Software by 1.0% during the third quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock worth $1,067,000 after purchasing an additional 64 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Paycom Software by 26.7% in the third quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock worth $54,000 after purchasing an additional 68 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other 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.