Paycom Software (NYSE:PAYC) Price Target Raised to $175.00

Paycom Software (NYSE:PAYC) had its price target upped by Jefferies Financial Group from $170.00 to $175.00 in a research note issued to investors on Thursday morning, Benzinga reports. Jefferies Financial Group currently has a hold rating on the software maker’s stock.

A number of other brokerages have also weighed in on PAYC. StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Piper Sandler upped their price target on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday. Barclays raised their price objective on shares of Paycom Software from $167.00 to $172.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. BMO Capital Markets upped their target price on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $191.44.

Paycom Software Stock Up 0.8 %

Shares of Paycom Software stock opened at $210.65 on Thursday. Paycom Software has a 52-week low of $139.50 and a 52-week high of $222.30. The company’s 50-day simple moving average is $167.57 and its 200-day simple moving average is $163.17. The firm has a market cap of $12.10 billion, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 2.97 and a beta of 1.13.

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

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.71%. Paycom Software’s dividend payout ratio is currently 18.05%.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $160.44, for a total transaction of $312,858.00. Following the completion of the transaction, the chief executive officer now owns 2,988,608 shares of the company’s stock, valued at approximately $479,492,267.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $160.44, for a total transaction of $312,858.00. Following the sale, the chief executive officer now owns 2,988,608 shares of the company’s stock, valued at $479,492,267.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bradley Scott Smith sold 1,524 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were 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 directly owns 14,769 shares of the company’s stock, valued at $2,327,889.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,906 shares of company stock worth $11,731,540. 14.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Paycom Software

Several institutional investors and hedge funds have recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Paycom Software by 29.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock worth $12,848,000 after acquiring an additional 14,670 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Paycom Software by 17.7% during the first quarter. Janney Montgomery Scott LLC now owns 59,242 shares of the software maker’s stock worth $11,790,000 after purchasing an additional 8,927 shares during the last quarter. Sylebra Capital LLC acquired a new stake in shares of Paycom Software during the first quarter worth $253,196,000. Profund Advisors LLC purchased a new stake in shares of Paycom Software in the second quarter valued at $589,000. Finally, BOKF NA increased its stake in Paycom Software by 453.0% in the first quarter. BOKF NA now owns 9,219 shares of the software maker’s stock valued at $1,828,000 after purchasing an additional 7,552 shares during the last quarter. 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.