Paycom Software (NYSE:PAYC) Price Target Raised to $197.00

Paycom Software (NYSE:PAYC) had its price target raised by BMO Capital Markets from $183.00 to $197.00 in a research report released on Thursday, Benzinga reports. They currently have a market perform rating on the software maker’s stock.

Other equities research analysts have also issued research reports about the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Barclays upped their target price on Paycom Software from $167.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. Jefferies Financial Group lifted their price target on shares of Paycom Software from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. TD Cowen upped their price objective 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. Finally, StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $191.44.

Paycom Software Price Performance

Shares of Paycom Software stock opened at $210.65 on Thursday. The company has a 50 day simple moving average of $167.57 and a two-hundred day simple moving average of $163.17. The firm has a market cap of $12.10 billion, a PE ratio of 25.35, a PEG ratio of 2.97 and a beta of 1.13. Paycom Software has a 1 year low of $139.50 and a 1 year high of $222.30.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, July 31st. The software maker reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.07. The company had revenue of $437.51 million during the quarter, compared to the consensus estimate of $436.19 million. Paycom Software had a net margin of 25.78% and a return on equity of 32.90%. As a group, research analysts anticipate that Paycom Software will post 6.64 earnings per share for the current year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be given a dividend of $0.375 per share. The ex-dividend date is Monday, November 25th. This represents a $1.50 annualized dividend and a yield of 0.71%. Paycom Software’s payout ratio is currently 18.05%.

Insiders Place Their Bets

In other news, insider Bradley Scott Smith sold 1,524 shares of the stock in a transaction dated 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 directly owns 14,769 shares in the company, valued at approximately $2,327,889.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $172.43, for a total value of $336,238.50. Following the sale, the chief executive officer now owns 2,750,910 shares in the company, valued at $474,339,411.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bradley Scott Smith sold 1,524 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total transaction of $240,212.88. Following the completion of the transaction, the insider now owns 14,769 shares of the company’s stock, valued at $2,327,889.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,906 shares of company stock valued at $11,731,540 in the last quarter. 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 stock. Ashton Thomas Private Wealth LLC bought a new stake in Paycom Software during the 2nd quarter valued at approximately $25,000. MFA Wealth Advisors LLC bought a new stake in shares of Paycom Software during the second quarter valued at approximately $26,000. Armstrong Advisory Group Inc. bought a new stake in shares of Paycom Software during the third quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Paycom Software in the second quarter worth $27,000. Finally, Palisade Asset Management LLC bought a new position in Paycom Software in the first quarter worth $32,000. Hedge funds and other 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.