Paycom Software, Inc. (NYSE:PAYC) Receives $193.67 Average Target Price from Brokerages

Paycom Software, Inc. (NYSE:PAYC) has been given a consensus rating of “Hold” by the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $200.33.

Several brokerages recently issued reports on PAYC. Citigroup lifted their target price on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Mizuho lifted their target price on Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Barclays lifted their target price on Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Piper Sandler lifted their target price on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, BMO Capital Markets lifted their target price on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st.

Insider Activity

In other news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $229.09, for a total transaction of $446,725.50. Following the transaction, the chief executive officer now owns 2,731,410 shares of the company’s stock, valued at approximately $625,738,716.90. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 50,700 shares of company stock valued at $9,098,135. 12.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Paycom Software

Large investors have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC purchased a new position in Paycom Software during the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC purchased a new position in Paycom Software during the 2nd quarter valued at $26,000. Armstrong Advisory Group Inc. purchased a new position in Paycom Software during the 3rd quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Paycom Software during the 2nd quarter valued at $27,000. Finally, Brooklyn Investment Group purchased a new position in Paycom Software during the 3rd quarter valued at $28,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $235.66 on Wednesday. The stock has a market capitalization of $13.59 billion, a price-to-earnings ratio of 28.36, a PEG ratio of 3.15 and a beta of 1.11. The stock’s 50-day simple moving average is $201.19 and its two-hundred day simple moving average is $172.21. Paycom Software has a 52-week low of $139.50 and a 52-week high of $238.57.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Monday, November 25th. Paycom Software’s dividend payout ratio is currently 18.05%.

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.