Barclays Cuts Paycom Software (NYSE:PAYC) Price Target to $221.00

Paycom Software (NYSE:PAYC) had its price target decreased by Barclays from $229.00 to $221.00 in a research note issued to investors on Thursday,Benzinga reports. Barclays currently has an equal weight rating on the software maker’s stock.

Several other research analysts have also issued reports on PAYC. Jefferies Financial Group increased 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. Piper Sandler lifted their target price on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. TD Cowen boosted their price target on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Mizuho raised their price objective on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Finally, Citigroup dropped their target price on Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Twelve investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $204.75.

Paycom Software Trading Up 1.1 %

PAYC opened at $207.52 on Thursday. The company has a market cap of $11.97 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 2.85 and a beta of 1.14. The stock has a fifty day simple moving average of $217.17 and a two-hundred day simple moving average of $186.85. Paycom Software has a 12-month low of $139.50 and a 12-month high of $242.74.

Paycom Software Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 0.72%. Paycom Software’s payout ratio is 18.05%.

Insider Buying and Selling at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $229.09, for a total value of $446,725.50. Following the sale, the chief executive officer now owns 2,731,410 shares in the company, 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 the SEC website. In the last 90 days, insiders have sold 15,600 shares of company stock worth $3,240,510. Company insiders own 14.50% of the company’s stock.

Hedge Funds Weigh In On Paycom Software

Several hedge funds and other institutional investors have recently modified their holdings of PAYC. Trust Point Inc. purchased a new stake in Paycom Software during the fourth quarter valued at $796,000. Boston Trust Walden Corp increased its position in shares of Paycom Software by 3.3% during the 4th quarter. Boston Trust Walden Corp now owns 359,695 shares of the software maker’s stock valued at $73,727,000 after purchasing an additional 11,595 shares during the last quarter. Willis Investment Counsel increased its position in shares of Paycom Software by 3.7% during the 4th quarter. Willis Investment Counsel now owns 4,396 shares of the software maker’s stock valued at $901,000 after purchasing an additional 155 shares during the last quarter. Valley National Advisers Inc. lifted its stake in shares of Paycom Software by 0.7% in the 4th quarter. Valley National Advisers Inc. now owns 10,702 shares of the software maker’s stock worth $2,192,000 after purchasing an additional 72 shares during the period. Finally, Western Pacific Wealth Management LP boosted its holdings in shares of Paycom Software by 49.5% in the fourth quarter. Western Pacific Wealth Management LP now owns 2,430 shares of the software maker’s stock worth $498,000 after buying an additional 805 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.