Paycom Software (NYSE:PAYC) PT Raised to $172.00

Paycom Software (NYSE:PAYC) had its target price increased by Barclays from $167.00 to $172.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the software maker’s stock.

PAYC has been the topic of a number of other research reports. Citigroup lowered their price target on Paycom Software from $193.00 to $162.00 and set a neutral rating on the stock in a research report on Tuesday, June 18th. TD Cowen increased their price target on Paycom Software from $171.00 to $188.00 and gave the stock a hold rating in a research report on Monday, September 23rd. Needham & Company LLC reiterated a hold rating on shares of Paycom Software in a research report on Thursday, August 1st. StockNews.com downgraded Paycom Software from a buy rating to a hold rating in a research report on Monday, July 15th. Finally, Jefferies Financial Group lowered their price target on Paycom Software from $170.00 to $145.00 and set a hold rating on the stock in a research report on Monday, June 24th. Seventeen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $180.17.

Paycom Software Stock Down 0.9 %

Shares of PAYC opened at $162.50 on Friday. Paycom Software has a 52 week low of $139.50 and a 52 week high of $278.23. The company has a market capitalization of $9.44 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 2.31 and a beta of 1.17. The stock’s 50-day moving average price is $163.44 and its 200-day moving average price is $166.00.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, July 31st. The software maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.07. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. The firm had revenue of $437.51 million for the quarter, compared to the consensus estimate of $436.19 million. As a group, equities analysts anticipate that Paycom Software will post 6.67 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were issued a $0.375 dividend. The ex-dividend date was Monday, August 26th. This represents a $1.50 annualized dividend and a dividend yield of 0.92%. Paycom Software’s dividend payout ratio is presently 18.27%.

Insider Activity at Paycom Software

In related news, CFO Craig E. Boelte sold 11,882 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $155.98, for a total value of $1,853,354.36. Following the completion of the sale, the chief financial officer now owns 294,849 shares of the company’s stock, valued at approximately $45,990,547.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Paycom Software news, CFO Craig E. Boelte sold 11,882 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the completion of the sale, the chief financial officer now owns 294,849 shares of the company’s stock, valued at $45,990,547.02. 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 through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $160.11, for a total value of $312,214.50. Following the sale, the chief executive officer now directly owns 3,013,958 shares of the company’s stock, valued at approximately $482,564,815.38. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,956 shares of company stock valued at $11,342,924. 14.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Paycom Software

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Michael S. Ryan Inc. acquired a new stake in Paycom Software during the third quarter worth $454,000. Creative Planning increased its stake in Paycom Software by 27.5% during the third quarter. Creative Planning now owns 7,586 shares of the software maker’s stock worth $1,264,000 after acquiring an additional 1,635 shares during the last quarter. Wesbanco Bank Inc. purchased a new position in shares of Paycom Software during the third quarter worth $219,000. Grove Bank & Trust boosted its position in shares of Paycom Software by 13.0% during the third quarter. Grove Bank & Trust now owns 3,796 shares of the software maker’s stock worth $632,000 after buying an additional 436 shares during the period. Finally, ORG Wealth Partners LLC purchased a new position in shares of Paycom Software during the third quarter worth $172,000. Institutional investors and hedge funds 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.