Paycom Software, Inc. (NYSE:PAYC) Receives $193.67 Consensus Price Target from Analysts

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

A number of equities analysts have issued reports on the stock. Mizuho lifted their price objective on shares of Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Citigroup lifted their price objective on shares of Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. TD Cowen boosted their price target on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Jefferies Financial Group boosted their price target on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Finally, Piper Sandler boosted their price target on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st.

Paycom Software Price Performance

PAYC opened at $236.67 on Wednesday. The company has a market capitalization of $13.65 billion, a price-to-earnings ratio of 28.48, a P/E/G ratio of 3.06 and a beta of 1.11. The firm’s fifty day moving average price is $198.43 and its two-hundred day moving average price is $171.45. Paycom Software has a 1 year low of $139.50 and a 1 year high of $238.18.

Paycom Software Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 0.63%. Paycom Software’s dividend payout ratio is presently 18.05%.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $162.00, for a total value of $315,900.00. Following the sale, the chief executive officer now directly owns 2,941,808 shares of the company’s stock, valued at approximately $476,572,896. This represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 52,650 shares of company stock worth $9,414,035 over the last quarter. 14.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Paycom Software

A number of institutional investors and hedge funds have recently modified their holdings of PAYC. Sylebra Capital LLC lifted its holdings in shares of Paycom Software by 53.9% in the second quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock worth $279,996,000 after buying an additional 685,190 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Paycom Software by 1,011.2% in the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock worth $83,244,000 after buying an additional 529,591 shares in the last quarter. FMR LLC raised its stake in Paycom Software by 55.0% in the third quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock valued at $167,889,000 after purchasing an additional 357,723 shares in the last quarter. International Assets Investment Management LLC raised its stake in Paycom Software by 9,997.5% in the third quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock valued at $46,859,000 after purchasing an additional 278,529 shares in the last quarter. Finally, Confluence Investment Management LLC raised its stake in Paycom Software by 147.3% in the third quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock valued at $62,943,000 after purchasing an additional 225,081 shares in the last quarter. 87.77% of the stock is 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.