Paycom Software (NYSE:PAYC) Stock Price Up 5.9% – Here’s What Happened

Paycom Software, Inc. (NYSE:PAYC)’s stock price shot up 5.9% on Monday . The stock traded as high as $223.82 and last traded at $225.10. 97,523 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 704,733 shares. The stock had previously closed at $212.65.

Analysts Set New Price Targets

A number of equities analysts have commented on PAYC shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, February 13th. KeyCorp raised Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 price target for the company in a research note on Monday. StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Stifel Nicolaus lowered their target price on Paycom Software from $215.00 to $187.00 and set a “hold” rating for the company in a research note on Thursday, February 13th. Finally, TD Cowen boosted their price target on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Paycom Software currently has an average rating of “Hold” and an average price target of $212.80.

Paycom Software Price Performance

The company has a market capitalization of $11.85 billion, a PE ratio of 23.24, a PEG ratio of 2.40 and a beta of 1.14. The company has a 50 day moving average of $208.89 and a two-hundred day moving average of $198.89.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. On average, equities analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Monday, March 10th. Paycom Software’s dividend payout ratio is currently 16.85%.

Insider Buying and Selling at Paycom Software

In related news, Director J C. Watts, Jr. sold 500 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $218.22, for a total transaction of $109,110.00. Following the completion of the sale, the director now directly owns 7,730 shares of the company’s stock, valued at approximately $1,686,840.60. This trade represents a 6.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Randall Peck sold 3,600 shares of Paycom Software stock in a transaction on Friday, February 21st. The shares were sold at an average price of $212.19, for a total value of $763,884.00. Following the sale, the chief operating officer now directly owns 50,665 shares of the company’s stock, valued at approximately $10,750,606.35. This trade represents a 6.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sylebra Capital LLC lifted its holdings in shares of Paycom Software by 63.8% in the 4th quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker’s stock valued at $658,996,000 after buying an additional 1,252,617 shares during the period. FMR LLC grew its position in shares of Paycom Software by 137.8% in the fourth quarter. FMR LLC now owns 2,396,452 shares of the software maker’s stock valued at $491,201,000 after purchasing an additional 1,388,533 shares in the last quarter. Geode Capital Management LLC grew its position in Paycom Software by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 1,516,768 shares of the software maker’s stock worth $310,245,000 after acquiring an additional 89,848 shares during the period. Northern Trust Corp grew its position in Paycom Software by 10.9% in the fourth quarter. Northern Trust Corp now owns 724,016 shares of the software maker’s stock worth $148,402,000 after acquiring an additional 70,897 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Paycom Software by 1.0% during the third 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 in the last quarter. 87.77% of the stock is currently owned by hedge funds and other 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.