Paycom Software (NYSE:PAYC) Cut to Hold at StockNews.com

StockNews.com cut shares of Paycom Software (NYSE:PAYCFree Report) from a buy rating to a hold rating in a research report report published on Wednesday.

A number of other analysts have also issued reports on the stock. Mizuho raised their target price on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Jefferies Financial Group raised their price objective on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Piper Sandler increased their target price on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. TD Cowen lifted their price target on Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a report on Monday, December 9th. Finally, Barclays increased their price objective on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Twelve equities research analysts have rated the stock with a hold rating, According to MarketBeat, Paycom Software presently has an average rating of “Hold” and a consensus price target of $199.75.

View Our Latest Analysis on PAYC

Paycom Software Stock Up 0.3 %

NYSE PAYC opened at $208.51 on Wednesday. The stock has a market cap of $12.02 billion, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 2.78 and a beta of 1.14. Paycom Software has a fifty-two week low of $139.50 and a fifty-two week high of $242.74. The business has a fifty day moving average of $218.99 and a 200-day moving average of $184.25.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 25th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend was Monday, November 25th. Paycom Software’s dividend payout ratio is presently 18.05%.

Insider Activity

In other news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $164.29, for a total transaction of $320,365.50. Following the completion of the sale, the chief executive officer now directly owns 2,760,660 shares in the company, valued at $453,548,831.40. 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 have sold 21,450 shares of company stock worth $4,212,449 over the last 90 days. Company insiders own 12.60% of the company’s stock.

Hedge Funds Weigh In On Paycom Software

A number of institutional investors have recently made changes to their positions in the business. Private Trust Co. NA increased its stake in shares of Paycom Software by 11.2% in the third quarter. Private Trust Co. NA now owns 526 shares of the software maker’s stock worth $88,000 after buying an additional 53 shares during the last quarter. Wrapmanager Inc. increased its holdings in Paycom Software by 2.6% in the third quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock valued at $362,000 after buying an additional 56 shares during the last quarter. Andina Capital Management LLC lifted its holdings in Paycom Software by 4.0% during the 3rd quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock worth $275,000 after buying an additional 63 shares during the last quarter. Davis Investment Partners LLC grew its position in shares of Paycom Software by 1.0% in the 3rd quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock worth $1,067,000 after acquiring an additional 64 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Paycom Software by 26.7% in the 3rd quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock valued at $54,000 after acquiring an additional 68 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

About Paycom Software

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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.

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