Barclays Increases Paycom Software (NYSE:PAYC) Price Target to $172.00

Paycom Software (NYSE:PAYC) had its target price lifted by Barclays from $167.00 to $172.00 in a report issued on Friday, Benzinga reports. They currently have an equal weight rating on the software maker’s stock.

A number of other equities analysts have also recently weighed in on PAYC. StockNews.com cut Paycom Software from a buy rating to a hold rating in a report on Monday, July 15th. TD Cowen boosted their price target on shares of Paycom Software from $171.00 to $188.00 and gave the company a hold rating in a research note on Monday, September 23rd. Jefferies Financial Group decreased their price target on Paycom Software from $170.00 to $145.00 and set a hold rating on the stock in a research note on Monday, June 24th. Citigroup lowered their target price on Paycom Software from $193.00 to $162.00 and set a neutral rating for the company in a report on Tuesday, June 18th. Finally, Needham & Company LLC reiterated a hold rating on shares of Paycom Software in a research note on Thursday, August 1st. Seventeen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $180.17.

Paycom Software Stock Up 1.3 %

Shares of NYSE PAYC opened at $164.68 on Friday. The firm has a 50-day simple moving average of $163.57 and a 200-day simple moving average of $165.53. Paycom Software has a 52 week low of $139.50 and a 52 week high of $275.67. The stock has a market capitalization of $9.57 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 2.31 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.07. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. The company had revenue of $437.51 million during the quarter, compared to analysts’ expectations of $436.19 million. As a group, equities research analysts expect that Paycom Software will post 6.67 EPS for the current year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 26th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend was Monday, August 26th. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $171.30, for a total transaction of $334,035.00. Following the sale, the chief executive officer now directly owns 2,805,060 shares in the company, valued at approximately $480,506,778. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $171.30, for a total value of $334,035.00. Following the sale, the chief executive officer now owns 2,805,060 shares of the company’s stock, valued at $480,506,778. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bradley Scott Smith sold 1,524 shares of the stock in a transaction that occurred 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 owns 14,769 shares in the company, valued at $2,327,889.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,956 shares of company stock worth $11,342,924. Company insiders own 14.50% of the company’s stock.

Hedge Funds Weigh In On Paycom Software

A number of institutional investors have recently modified their holdings of the company. Sylebra Capital LLC purchased a new stake in Paycom Software in the 1st quarter worth approximately $253,196,000. Federated Hermes Inc. increased its stake in shares of 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 during the last quarter. Raymond James & Associates increased its position in Paycom Software by 769.2% during the second quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock worth $28,803,000 after purchasing an additional 178,198 shares during the last quarter. Strategic Financial Concepts LLC raised its stake in Paycom Software by 12,268.6% during the second quarter. Strategic Financial Concepts LLC now owns 169,202 shares of the software maker’s stock worth $242,000 after purchasing an additional 167,834 shares during the period. Finally, Sather Financial Group Inc acquired a new position in Paycom Software in the second quarter valued at $23,519,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

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.