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

Paycom Software (NYSE:PAYC) had its price target raised by Citigroup from $172.00 to $196.00 in a report released on Thursday, Benzinga reports. Citigroup currently has a neutral rating on the software maker’s stock.

Other equities research analysts have also recently issued research reports about the company. Barclays raised their target price on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research note on Thursday. BMO Capital Markets boosted their price target 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. TD Cowen increased their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Jefferies Financial Group upped their price target on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday. Finally, StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Seventeen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Paycom Software presently has a consensus rating of “Hold” and a consensus price target of $186.92.

Paycom Software Price Performance

Paycom Software stock traded down $0.72 during midday trading on Thursday, reaching $208.31. The company had a trading volume of 163,217 shares, compared to its average volume of 813,959. Paycom Software has a 12-month low of $139.50 and a 12-month high of $222.30. The firm’s fifty day simple moving average is $166.62 and its 200-day simple moving average is $163.23. The company has a market capitalization of $11.96 billion, a P/E ratio of 25.15, a P/E/G ratio of 2.45 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, July 31st. The software maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.13 by $0.07. The firm had revenue of $437.51 million during the quarter, compared to analysts’ expectations of $436.19 million. Paycom Software had a return on equity of 33.34% and a net margin of 25.78%. On average, analysts expect that Paycom Software will post 6.64 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.72%. The ex-dividend date is Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Insiders Place Their Bets

In related news, insider Bradley Scott Smith sold 1,524 shares of Paycom Software stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $157.62, for a total transaction of $240,212.88. Following the sale, the insider now directly owns 14,769 shares in the company, valued at $2,327,889.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Bradley Scott Smith sold 1,524 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $157.62, for a total transaction of $240,212.88. Following the transaction, the insider now directly owns 14,769 shares in the company, valued at approximately $2,327,889.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 owns 2,750,910 shares of the company’s stock, valued at approximately $474,339,411.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,906 shares of company stock valued at $11,731,540 in the last ninety days. Insiders own 14.50% of the company’s stock.

Institutional Investors Weigh In On Paycom Software

Several hedge funds have recently modified their holdings of PAYC. Sylebra Capital LLC purchased a new position in shares of Paycom Software during the 1st quarter worth approximately $253,196,000. Federated Hermes Inc. raised its position in Paycom Software by 1,011.2% in the second 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 in the last quarter. International Assets Investment Management LLC lifted its holdings in Paycom Software by 9,997.5% in the third quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock valued at $46,859,000 after acquiring an additional 278,529 shares during the period. Confluence Investment Management LLC boosted its position in shares of Paycom Software by 147.3% during the 3rd quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock worth $62,943,000 after purchasing an additional 225,081 shares in the last quarter. Finally, Raymond James & Associates grew its stake in shares of Paycom Software by 769.2% during the 2nd quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock worth $28,803,000 after purchasing an additional 178,198 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

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.