Paycom Software (NYSE:PAYC) Shares Up 3.5% – Still a Buy?

Shares of Paycom Software, Inc. (NYSE:PAYC) shot up 3.5% during trading on Monday . The stock traded as high as $171.64 and last traded at $171.64. 456,293 shares traded hands during trading, a decline of 44% from the average session volume of 814,786 shares. The stock had previously closed at $165.89.

Analysts Set New Price Targets

Several research firms have recently weighed in on PAYC. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Barclays raised their target price on Paycom Software from $167.00 to $172.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. TD Cowen upped their price target on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Finally, Jefferies Financial Group cut their price target on Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Seventeen analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $180.17.

Paycom Software Trading Up 1.2 %

The firm has a market capitalization of $9.75 billion, a P/E ratio of 20.95, a P/E/G ratio of 2.33 and a beta of 1.17. The stock’s 50-day simple moving average is $164.19 and its 200-day simple moving average is $164.59.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, July 31st. The software maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.07. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. The business had revenue of $437.51 million for the quarter, compared to analyst estimates of $436.19 million. On average, equities research analysts expect that Paycom Software, Inc. will post 6.67 EPS for the current year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.50 dividend on an annualized basis and a yield of 0.89%. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $171.30, for a total transaction of $334,035.00. Following the completion of the sale, the chief executive officer now owns 2,805,060 shares in the company, valued at $480,506,778. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Bradley Scott Smith sold 1,524 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total transaction of $240,212.88. Following the completion of the transaction, the insider now owns 14,769 shares in the company, valued at approximately $2,327,889.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $171.30, for a total value of $334,035.00. Following the completion of the sale, the chief executive officer now owns 2,805,060 shares in the company, valued at $480,506,778. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,906 shares of company stock worth $11,697,727 over the last three months. 14.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Paycom Software

Several large investors have recently modified their holdings of PAYC. Ashton Thomas Private Wealth LLC bought a new position in Paycom Software in the 2nd quarter worth approximately $25,000. Mather Group LLC. bought a new position in shares of Paycom Software in the first quarter worth $26,000. MFA Wealth Advisors LLC bought a new position in shares of Paycom Software in the second quarter worth $26,000. Armstrong Advisory Group Inc. purchased a new position in shares of Paycom Software in the third quarter valued at $26,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Paycom Software during the 2nd quarter valued at $27,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

About Paycom Software

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.