Paycom Software (NYSE:PAYC) Price Target Raised to $210.00

Paycom Software (NYSE:PAYC) had its price objective lifted by Mizuho from $190.00 to $210.00 in a report released on Friday morning,Benzinga reports. They currently have a neutral rating on the software maker’s stock.

A number of other research analysts also recently weighed in on the company. Jefferies Financial Group upped their target price on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Barclays increased their price objective on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. TD Cowen boosted their target price on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a report on Monday, December 9th. BMO Capital Markets increased their price target 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. Finally, Citigroup boosted their price objective on shares of Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $202.56.

Paycom Software Trading Down 2.3 %

Shares of PAYC opened at $234.50 on Friday. Paycom Software has a 1-year low of $139.50 and a 1-year high of $242.74. The firm has a market capitalization of $13.52 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 3.20 and a beta of 1.11. The firm’s 50-day moving average price is $205.46 and its 200-day moving average price is $173.64.

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 given a $0.375 dividend. The ex-dividend date was Monday, November 25th. This represents a $1.50 annualized dividend and a yield of 0.64%. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Insider Buying and Selling at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $170.19, for a total transaction of $331,870.50. Following the transaction, the chief executive officer now owns 2,810,910 shares in the company, valued at $478,388,772.90. This represents 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 at the SEC website. In the last three months, insiders have sold 46,800 shares of company stock worth $8,439,854. 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 the company. Sylebra Capital LLC increased its position in Paycom Software by 0.3% during the third quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker’s stock valued at $326,888,000 after acquiring an additional 5,000 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Paycom Software by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,426,920 shares of the software maker’s stock valued at $237,015,000 after purchasing an additional 45,404 shares during the last quarter. FMR LLC lifted its stake in shares of Paycom Software by 55.0% in the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after purchasing an additional 357,723 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Paycom Software by 1.0% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker’s stock worth $104,524,000 after purchasing an additional 6,488 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in shares of Paycom Software by 1,011.2% in the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock worth $83,244,000 after buying an additional 529,591 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

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.