Paycom Software (NYSE:PAYC) Price Target Raised to $190.00

Paycom Software (NYSE:PAYC) had its price objective upped by Mizuho from $170.00 to $190.00 in a report issued on Monday morning, Benzinga reports. They currently have a neutral rating on the software maker’s stock.

Several other research analysts have also recently weighed in on the stock. TD Cowen lifted their price target on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Piper Sandler lifted their target price on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Finally, Citigroup boosted their price objective on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $193.67.

Paycom Software Stock Up 5.7 %

Shares of NYSE:PAYC opened at $231.09 on Monday. The firm’s 50 day moving average price is $170.97 and its 200-day moving average price is $163.91. The stock has a market capitalization of $13.32 billion, a PE ratio of 27.81, a price-to-earnings-growth ratio of 2.92 and a beta of 1.14. Paycom Software has a twelve month low of $139.50 and a twelve month high of $233.69.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.375 per share. The ex-dividend date is Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.65%. Paycom Software’s dividend payout ratio (DPR) is 18.05%.

Insider Activity at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $216.60, for a total transaction of $422,370.00. Following the sale, the chief executive officer now owns 2,743,110 shares of the company’s stock, valued at $594,157,626. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $216.60, for a total transaction of $422,370.00. Following the completion of the transaction, the chief executive officer now directly owns 2,743,110 shares of the company’s stock, valued at $594,157,626. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Craig E. Boelte sold 11,882 shares of the stock in a transaction on Monday, August 12th. The shares were 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 in the company, valued at approximately $45,990,547.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,332 shares of company stock valued at $12,113,825. 12.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Paycom Software

Several hedge funds have recently made changes to their positions in PAYC. Ashton Thomas Private Wealth LLC purchased a new position in shares of Paycom Software during the second quarter valued at $25,000. MFA Wealth Advisors LLC purchased a new position in Paycom Software during the 2nd quarter valued at about $26,000. Armstrong Advisory Group Inc. bought a new stake in shares of Paycom Software in the 3rd quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Paycom Software in the 2nd quarter worth approximately $27,000. Finally, CVA Family Office LLC boosted its stake in shares of Paycom Software by 234.3% during the second quarter. CVA Family Office LLC now owns 234 shares of the software maker’s stock valued at $33,000 after purchasing an additional 164 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

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.