Paycom Software (NYSE:PAYC) Reaches New 52-Week High – What’s Next?

Shares of Paycom Software, Inc. (NYSE:PAYC) reached a new 52-week high on Friday . The stock traded as high as $238.18 and last traded at $237.89, with a volume of 49548 shares changing hands. The stock had previously closed at $231.81.

Analyst Ratings Changes

Several research firms recently commented on PAYC. Mizuho raised their target price on Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Barclays lifted their price objective on Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Piper Sandler increased their target price on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Citigroup lifted their price target on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, BMO Capital Markets upped their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $193.67.

Paycom Software Price Performance

The firm has a market capitalization of $13.64 billion, a P/E ratio of 28.46, a PEG ratio of 3.09 and a beta of 1.11. The company’s 50 day moving average price is $198.43 and its 200 day moving average price is $171.39.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.63%. Paycom Software’s dividend payout ratio (DPR) is currently 18.05%.

Insider Activity at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $229.09, for a total transaction of $446,725.50. Following the completion of the transaction, the chief executive officer now directly owns 2,731,410 shares in the company, valued at approximately $625,738,716.90. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 52,650 shares of company stock worth $9,414,035 over the last 90 days. Insiders own 14.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PAYC. Peapack Gladstone Financial Corp boosted its holdings in shares of Paycom Software by 71.7% in the third quarter. Peapack Gladstone Financial Corp now owns 2,488 shares of the software maker’s stock valued at $414,000 after buying an additional 1,039 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Paycom Software during the 3rd quarter worth about $79,000. Sanctuary Advisors LLC raised its stake in shares of Paycom Software by 42.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 8,501 shares of the software maker’s stock valued at $1,416,000 after purchasing an additional 2,517 shares during the period. Pine Valley Investments Ltd Liability Co lifted its holdings in shares of Paycom Software by 26.5% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 14,053 shares of the software maker’s stock valued at $2,341,000 after purchasing an additional 2,944 shares in the last quarter. Finally, Toronto Dominion Bank boosted its position in shares of Paycom Software by 2.3% during the third quarter. Toronto Dominion Bank now owns 24,825 shares of the software maker’s stock worth $4,135,000 after buying an additional 569 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

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.