Brokerages Set Paycom Software, Inc. (NYSE:PAYC) Price Target at $202.56

Shares of Paycom Software, Inc. (NYSE:PAYC) have been assigned an average rating of “Hold” from the twelve analysts that are presently covering the company, Marketbeat.com 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 twelve-month price target among analysts that have updated their coverage on the stock in the last year is $202.56.

Several equities research analysts recently commented on PAYC shares. Piper Sandler increased their price objective on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Mizuho raised their price target on shares of Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Jefferies Financial Group lifted their price target on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. TD Cowen increased their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Finally, Barclays lifted their target price on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $162.17, for a total transaction of $316,231.50. Following the transaction, the chief executive officer now owns 2,780,160 shares of the company’s stock, valued at $450,858,547.20. The trade was a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 33,150 shares of company stock valued at $6,130,586. Company insiders own 14.50% of the company’s stock.

Institutional Trading of Paycom Software

Several institutional investors and hedge funds have recently modified their holdings of PAYC. Armstrong Advisory Group Inc. purchased a new stake in Paycom Software in the 3rd quarter worth $26,000. Brooklyn Investment Group bought a new position in shares of Paycom Software in the third quarter worth about $28,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Paycom Software during the second quarter worth about $25,000. Pin Oak Investment Advisors Inc. raised its stake in Paycom Software by 73.3% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock valued at $30,000 after purchasing an additional 77 shares during the period. Finally, First Horizon Advisors Inc. raised its stake in Paycom Software by 821.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock valued at $35,000 after purchasing an additional 189 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Stock Up 1.2 %

NYSE:PAYC opened at $203.86 on Friday. The stock has a market cap of $11.75 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 3.12 and a beta of 1.14. The company’s 50 day moving average price is $219.14 and its 200-day moving average price is $180.04. Paycom Software has a 52 week low of $139.50 and a 52 week high of $242.74.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, November 25th were issued a $0.375 dividend. The ex-dividend date was Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.74%. 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.