Paycom Software (NYSE:PAYC) Hits New 52-Week High – Time to Buy?

Paycom Software, Inc. (NYSE:PAYC)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $235.21 and last traded at $235.14, with a volume of 48705 shares traded. The stock had previously closed at $230.32.

Analyst Ratings Changes

A number of research analysts recently commented on PAYC shares. Barclays boosted their price target on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Piper Sandler boosted their target price on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Jefferies Financial Group raised their target price on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Finally, TD Cowen boosted their target price on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $193.67.

Paycom Software Stock Performance

The stock has a market cap of $13.55 billion, a PE ratio of 28.42, a PEG ratio of 3.12 and a beta of 1.14. The stock has a fifty day moving average price of $188.41 and a 200 day moving average price of $168.26.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is 18.05%.

Insider Activity

In other news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $160.35, for a total transaction of $312,682.50. Following the transaction, the chief executive officer now owns 2,947,658 shares of the company’s stock, valued at approximately $472,656,960.30. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 54,600 shares of company stock valued at $9,726,717. 12.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Paycom Software

Institutional investors and hedge funds have recently modified their holdings of the business. Ashton Thomas Private Wealth LLC purchased a new stake in Paycom Software in the 2nd quarter valued at about $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of Paycom Software in the second quarter valued at approximately $26,000. Armstrong Advisory Group Inc. bought a new position in Paycom Software in the third quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Paycom Software during the 2nd quarter worth $27,000. Finally, Brooklyn Investment Group bought a new stake in Paycom Software during the 3rd quarter valued at $28,000. 87.77% of the stock is owned by 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.