Paycom Software, Inc. (NYSE:PAYC) Receives Consensus Rating of “Hold” from Analysts

Paycom Software, Inc. (NYSE:PAYC) has earned an average recommendation of “Hold” from the twelve research firms that are covering the stock, Marketbeat Ratings reports. Eleven analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $193.67.

Several brokerages recently commented on PAYC. TD Cowen upped their price target on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. BMO Capital Markets upped their price objective on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Mizuho increased their target price on Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Piper Sandler boosted their price target on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Barclays upped their price target on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $229.09, for a total transaction of $446,725.50. Following the completion of the sale, the chief executive officer now directly owns 2,731,410 shares in the company, valued at $625,738,716.90. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 50,700 shares of company stock worth $9,098,135 in the last 90 days. 14.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Armstrong Advisory Group Inc. purchased a new stake in Paycom Software during the 3rd quarter worth approximately $26,000. Brooklyn Investment Group purchased a new position in shares of Paycom Software during the 3rd quarter valued at approximately $28,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Paycom Software during the second quarter worth approximately $25,000. Pin Oak Investment Advisors Inc. increased its stake in shares of Paycom Software by 73.3% in the third quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after buying an additional 77 shares during the last quarter. Finally, MFA Wealth Advisors LLC acquired a new stake in Paycom Software in the second quarter valued at $26,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Price Performance

PAYC opened at $236.48 on Wednesday. The stock has a market capitalization of $13.64 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 3.09 and a beta of 1.11. Paycom Software has a 12 month low of $139.50 and a 12 month high of $238.18. The business has a 50-day moving average of $198.43 and a two-hundred day moving average of $171.33.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors 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 0.63%. Paycom Software’s payout ratio is currently 18.05%.

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.