Paycom Software (NYSE:PAYC) PT Raised to $170.00

Paycom Software (NYSE:PAYC) had its price target upped by Jefferies Financial Group from $155.00 to $170.00 in a report published on Tuesday, Benzinga reports. The firm currently has a hold rating on the software maker’s stock.

PAYC has been the topic of several other reports. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. TD Cowen raised their price target on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Finally, Barclays raised their price target on Paycom Software from $167.00 to $172.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. Seventeen research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $182.25.

Paycom Software Stock Down 0.8 %

Paycom Software stock opened at $166.40 on Tuesday. The company has a market capitalization of $9.56 billion, a P/E ratio of 20.05, a PEG ratio of 2.35 and a beta of 1.17. The stock’s 50 day moving average is $164.67 and its 200 day moving average is $164.15. Paycom Software has a twelve month low of $139.50 and a twelve month high of $264.70.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, July 31st. The software maker reported $1.20 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 business had revenue of $437.51 million for the quarter, compared to the consensus estimate of $436.19 million. As a group, equities analysts expect that Paycom Software will post 6.67 EPS for the current year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were given a $0.375 dividend. The ex-dividend date was Monday, August 26th. This represents a $1.50 annualized dividend and a yield of 0.90%. Paycom Software’s dividend payout ratio is currently 18.07%.

Insider Buying and Selling

In related news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $169.17, for a total value of $329,881.50. Following the completion of the transaction, the chief executive officer now owns 2,764,560 shares in the company, valued at approximately $467,680,615.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $169.17, for a total value of $329,881.50. Following the completion of the sale, the chief executive officer now owns 2,764,560 shares of the company’s stock, valued at $467,680,615.20. This trade 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 available at this hyperlink. Also, CFO Craig E. Boelte sold 11,882 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the completion of the sale, the chief financial officer now directly owns 294,849 shares of the company’s stock, valued at approximately $45,990,547.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,906 shares of company stock worth $11,714,516. Corporate insiders own 14.50% of the company’s stock.

Institutional Trading of Paycom Software

Institutional investors and hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Paycom Software by 29.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock valued at $12,848,000 after acquiring an additional 14,670 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Paycom Software by 17.7% in the first quarter. Janney Montgomery Scott LLC now owns 59,242 shares of the software maker’s stock worth $11,790,000 after buying an additional 8,927 shares in the last quarter. Sylebra Capital LLC bought a new position in Paycom Software in the first quarter worth approximately $253,196,000. Profund Advisors LLC bought a new position in Paycom Software in the second quarter worth approximately $589,000. Finally, BOKF NA raised its stake in Paycom Software by 453.0% in the first quarter. BOKF NA now owns 9,219 shares of the software maker’s stock worth $1,828,000 after buying an additional 7,552 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

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.