Paycom Software (NYSE:PAYC) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Paycom Software (NYSE:PAYC) from a hold rating to a buy rating in a research note published on Monday morning.

A number of other analysts have also issued reports on the company. Citigroup increased their target price on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Barclays increased their target price on Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Jefferies Financial Group increased their target price on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Mizuho increased their target price on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday. Finally, TD Cowen upped their price target on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Eleven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Paycom Software has an average rating of “Hold” and an average price target of $202.56.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $232.06 on Monday. Paycom Software has a one year low of $139.50 and a one year high of $242.74. The stock has a fifty day moving average of $205.46 and a 200-day moving average of $173.71. The company has a market capitalization of $13.38 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 3.12 and a beta of 1.11.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 25th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.65%. The ex-dividend date was Monday, November 25th. Paycom Software’s payout ratio is 18.05%.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $229.09, for a total value of $446,725.50. Following the sale, the chief executive officer now directly owns 2,731,410 shares of the company’s stock, valued at approximately $625,738,716.90. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 46,800 shares of company stock valued at $8,439,854 over the last three months. 14.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Paycom Software

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ashton Thomas Private Wealth LLC bought a new stake in shares of Paycom Software in the second quarter valued at about $25,000. MFA Wealth Advisors LLC bought a new position in Paycom Software during the second quarter worth about $26,000. Armstrong Advisory Group Inc. acquired a new stake in Paycom Software during the third quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Paycom Software in the 2nd quarter valued at approximately $27,000. Finally, Brooklyn Investment Group bought a new position in shares of Paycom Software during the 3rd quarter worth approximately $28,000. 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.