Paycom Software (NYSE:PAYC) Trading Down 5.5% – Here’s What Happened

Paycom Software, Inc. (NYSE:PAYCGet Free Report)’s share price traded down 5.5% on Wednesday . The stock traded as low as $220.21 and last traded at $220.21. 309,796 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 785,373 shares. The stock had previously closed at $232.97.

Analysts Set New Price Targets

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

Read Our Latest Research Report on Paycom Software

Paycom Software Trading Down 10.1 %

The business has a 50-day moving average of $208.28 and a 200 day moving average of $174.85. The firm has a market capitalization of $12.08 billion, a P/E ratio of 25.21, a price-to-earnings-growth ratio of 3.12 and a beta of 1.11.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 25th were paid a dividend of $0.375 per share. The ex-dividend date was Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.72%. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Insider Transactions at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $229.09, for a total transaction of $446,725.50. Following the completion of the transaction, the chief executive officer now directly owns 2,731,410 shares of the company’s stock, valued at $625,738,716.90. This represents a 0.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 44,850 shares of company stock valued at $8,107,983 over the last three months. Corporate insiders own 14.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Sylebra Capital LLC boosted its holdings 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 worth $279,996,000 after purchasing an additional 685,190 shares in the last quarter. Federated Hermes Inc. grew its position in Paycom Software by 1,011.2% during the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock worth $83,244,000 after acquiring an additional 529,591 shares during the last quarter. FMR LLC increased its stake in Paycom Software by 55.0% in the 3rd 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 during the period. International Assets Investment Management LLC raised its holdings in Paycom Software by 9,997.5% during the 3rd quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock valued at $46,859,000 after buying an additional 278,529 shares during the last quarter. Finally, Confluence Investment Management LLC boosted its position in Paycom Software by 147.3% during the 3rd quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock valued at $62,943,000 after buying an additional 225,081 shares during the period. Institutional investors own 87.77% of the company’s stock.

Paycom Software Company Profile

(Get Free Report)

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.

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