Paycom Software (NYSE:PAYC) Reaches New 12-Month High – Here’s Why

Paycom Software, Inc. (NYSE:PAYC) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $238.18 and last traded at $237.89, with a volume of 49548 shares trading hands. The stock had previously closed at $231.81.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PAYC. TD Cowen boosted their target price on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Citigroup upped their price objective on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Barclays upped their target price on Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Jefferies Financial Group upped their target price on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Finally, Mizuho upped their target price on Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Paycom Software has a consensus rating of “Hold” and a consensus target price of $193.67.

Paycom Software Trading Up 2.2 %

The company has a 50-day simple moving average of $197.05 and a 200 day simple moving average of $171.06. The firm has a market cap of $13.66 billion, a PE ratio of 27.91, a price-to-earnings-growth ratio of 3.06 and a beta of 1.11.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be given a dividend of $0.375 per share. The ex-dividend date is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.63%. Paycom Software’s dividend payout ratio (DPR) is 18.05%.

Insider Activity at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $167.31, for a total transaction of $326,254.50. Following the completion of the transaction, the chief executive officer now directly owns 2,935,958 shares in the company, valued at $491,215,132.98. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders sold 52,650 shares of company stock valued at $9,414,035. 14.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Paycom Software

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Paycom Software during the 2nd quarter worth about $25,000. MFA Wealth Advisors LLC acquired a new position in Paycom Software during the second quarter worth approximately $26,000. Armstrong Advisory Group Inc. acquired a new position in Paycom Software during the third quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Paycom Software during the second quarter worth approximately $27,000. Finally, Brooklyn Investment Group acquired a new position in Paycom Software during the third quarter worth approximately $28,000. 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.