Paycom Software, Inc. (NYSE:PAYC) Receives $178.33 Average Target Price from Analysts

Shares of Paycom Software, Inc. (NYSE:PAYC) have received an average recommendation of “Hold” from the seventeen ratings firms that are currently covering the stock, Marketbeat.com reports. Sixteen equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $179.75.

PAYC has been the subject of several research analyst reports. Barclays raised their price objective on Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Jefferies Financial Group lowered their price objective on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. TD Cowen lifted their target price on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research report on Monday. Finally, Citigroup lowered their price target on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 18th.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $171.30, for a total value of $334,035.00. Following the sale, the chief executive officer now directly owns 2,805,060 shares of the company’s stock, valued at approximately $480,506,778. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Craig E. Boelte sold 11,882 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $155.98, for a total value of $1,853,354.36. Following the transaction, the chief financial officer now directly owns 294,849 shares of the company’s stock, valued at approximately $45,990,547.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $171.30, for a total value of $334,035.00. Following the completion of the transaction, the chief executive officer now owns 2,805,060 shares in the company, valued at approximately $480,506,778. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,856 shares of company stock worth $11,697,103. 14.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Paycom Software

Several hedge funds and other institutional investors have recently modified their holdings of the company. Empirical Finance LLC increased its position in Paycom Software by 3.9% during the 1st quarter. Empirical Finance LLC now owns 1,580 shares of the software maker’s stock worth $314,000 after purchasing an additional 60 shares in the last quarter. Optas LLC increased its position in shares of Paycom Software by 6.1% in the first quarter. Optas LLC now owns 1,059 shares of the software maker’s stock worth $211,000 after acquiring an additional 61 shares in the last quarter. Wahed Invest LLC raised its position in Paycom Software by 7.9% in the fourth quarter. Wahed Invest LLC now owns 877 shares of the software maker’s stock valued at $181,000 after purchasing an additional 64 shares during the period. Andina Capital Management LLC lifted its stake in shares of Paycom Software by 4.5% during the second quarter. Andina Capital Management LLC now owns 1,588 shares of the software maker’s stock worth $227,000 after purchasing an additional 68 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Paycom Software by 1.7% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,624 shares of the software maker’s stock worth $661,000 after buying an additional 79 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Stock Performance

Shares of NYSE PAYC opened at $167.46 on Friday. Paycom Software has a one year low of $139.50 and a one year high of $279.96. The firm has a market capitalization of $9.73 billion, a P/E ratio of 20.40, a PEG ratio of 2.44 and a beta of 1.17. The company’s fifty day moving average is $162.82 and its two-hundred day moving average is $168.07.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.07. Paycom Software had a net margin of 26.55% and a return on equity of 33.36%. The company had revenue of $437.51 million for the quarter, compared to analyst estimates of $436.19 million. On average, sell-side analysts forecast that Paycom Software will post 6.67 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were paid a $0.375 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.50 annualized dividend and a yield of 0.90%. Paycom Software’s payout ratio is currently 18.27%.

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.