Paycom Software (NYSE:PAYC) Price Target Raised to $196.00

Paycom Software (NYSE:PAYC) had its target price upped by Citigroup from $172.00 to $196.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the software maker’s stock.

A number of other research firms also recently weighed in on PAYC. BMO Capital Markets raised their price target on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday. TD Cowen upped their price target on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Barclays upped their target price on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Twelve investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Paycom Software presently has a consensus rating of “Hold” and an average target price of $191.44.

Paycom Software Stock Performance

Paycom Software stock opened at $210.65 on Thursday. Paycom Software has a 52 week low of $139.50 and a 52 week high of $222.30. The stock has a market capitalization of $12.10 billion, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 2.97 and a beta of 1.13. The stock has a fifty day moving average of $167.57 and a 200-day moving average of $163.00.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Insider Buying and Selling

In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $155.63, for a total value of $303,478.50. Following the completion of the transaction, the chief executive officer now directly owns 2,978,858 shares of the company’s stock, valued at approximately $463,599,670.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $155.63, for a total transaction of $303,478.50. Following the transaction, the chief executive officer now directly owns 2,978,858 shares of the company’s stock, valued at $463,599,670.54. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bradley Scott Smith sold 1,524 shares of Paycom Software stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $157.62, for a total transaction of $240,212.88. Following the completion of the sale, the insider now directly owns 14,769 shares of the company’s stock, valued at approximately $2,327,889.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,956 shares of company stock valued at $11,418,682 over the last quarter. Insiders own 14.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Sylebra Capital LLC boosted its stake in Paycom Software by 53.9% during the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock valued at $279,996,000 after purchasing an additional 685,190 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in Paycom Software by 9.4% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker’s stock worth $152,925,000 after buying an additional 92,049 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Paycom Software by 14.5% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 626,646 shares of the software maker’s stock valued at $124,709,000 after buying an additional 79,299 shares during the last quarter. Federated Hermes Inc. lifted its stake in Paycom Software by 1,011.2% during the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock valued at $83,244,000 after acquiring an additional 529,591 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Paycom Software by 6.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 455,271 shares of the software maker’s stock worth $65,122,000 after acquiring an additional 26,934 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

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.