Paycom Software (NYSE:PAYC) Stock Price Expected to Rise, Mizuho Analyst Says

Paycom Software (NYSE:PAYC) had its target price boosted by Mizuho from $170.00 to $190.00 in a report issued on Monday morning, Benzinga reports. They currently have a neutral rating on the software maker’s stock.

PAYC has been the topic of a number of other research reports. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Piper Sandler upped their price target on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. BMO Capital Markets lifted their price target on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. TD Cowen upped 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. Finally, Barclays boosted their target price on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $193.67.

Paycom Software Stock Performance

Paycom Software stock traded up $4.46 during mid-day trading on Monday, hitting $215.92. 140,622 shares of the company traded hands, compared to its average volume of 815,466. The stock has a fifty day moving average price of $168.50 and a 200-day moving average price of $163.19. The stock has a market cap of $12.40 billion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 2.91 and a beta of 1.14. Paycom Software has a one year low of $139.50 and a one year high of $222.30.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.69%. The ex-dividend date is Monday, November 25th. Paycom Software’s dividend payout ratio is presently 18.05%.

Insider Buying and Selling

In other news, insider Bradley Scott Smith sold 1,524 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $157.62, for a total value of $240,212.88. Following the completion of the sale, the insider now owns 14,769 shares in the company, valued at approximately $2,327,889.78. This trade 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 the SEC website. In other Paycom Software news, insider Bradley Scott Smith sold 1,524 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total value of $240,212.88. Following the completion of the sale, the insider now directly owns 14,769 shares in the company, valued at approximately $2,327,889.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $158.27, for a total transaction of $308,626.50. Following the transaction, the chief executive officer now owns 2,980,808 shares in the company, valued at approximately $471,772,482.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,906 shares of company stock worth $11,827,441. Insiders own 12.60% of the company’s stock.

Hedge Funds Weigh In On Paycom Software

Several hedge funds and other institutional investors have recently modified their holdings of PAYC. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Paycom Software by 29.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock worth $12,848,000 after purchasing an additional 14,670 shares during the period. Janney Montgomery Scott LLC increased its holdings in Paycom Software by 17.7% in the first quarter. Janney Montgomery Scott LLC now owns 59,242 shares of the software maker’s stock valued at $11,790,000 after buying an additional 8,927 shares in the last quarter. Sylebra Capital LLC acquired a new position in Paycom Software in the 1st quarter worth about $253,196,000. Profund Advisors LLC acquired a new position in shares of Paycom Software during the 2nd quarter worth approximately $589,000. Finally, BOKF NA lifted its holdings in Paycom Software by 453.0% during 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 in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

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.