Brokerages Set Paycom Software, Inc. (NYSE:PAYC) PT at $212.80

Shares of Paycom Software, Inc. (NYSE:PAYC) have received an average rating of “Hold” from the twelve research firms that are presently covering the firm, Marketbeat.com reports. Eleven research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $212.80.

PAYC has been the subject of several recent research reports. Citigroup cut their price objective on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Piper Sandler increased their price objective on Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, February 13th. Barclays cut their price objective on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Finally, KeyCorp upgraded Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 price objective for the company in a report on Monday, March 10th.

Insider Activity

In other news, COO Randall Peck sold 3,600 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $212.19, for a total value of $763,884.00. Following the sale, the chief operating officer now directly owns 50,665 shares of the company’s stock, valued at approximately $10,750,606.35. This trade represents a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director J C. Watts, Jr. sold 500 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $218.22, for a total value of $109,110.00. Following the completion of the sale, the director now directly owns 7,730 shares in the company, valued at approximately $1,686,840.60. This represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Paycom Software

Institutional investors have recently added to or reduced their stakes in the company. Glass Jacobson Investment Advisors llc grew its position in Paycom Software by 746.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker’s stock worth $26,000 after buying an additional 112 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in Paycom Software during the fourth quarter worth about $30,000. Brooklyn Investment Group acquired a new stake in Paycom Software during the third quarter worth about $28,000. Pin Oak Investment Advisors Inc. grew its position in Paycom Software by 73.3% during 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 in the last quarter. Finally, Putney Financial Group LLC acquired a new stake in Paycom Software during the fourth quarter worth about $39,000. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Stock Up 2.6 %

PAYC opened at $208.08 on Friday. The stock has a fifty day moving average of $209.04 and a 200-day moving average of $199.78. The firm has a market capitalization of $11.92 billion, a P/E ratio of 23.38, a PEG ratio of 2.40 and a beta of 1.14. Paycom Software has a 12-month low of $139.50 and a 12-month high of $242.74.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. On average, analysts expect that Paycom Software will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.375 per share. The ex-dividend date is Monday, March 10th. This represents a $1.50 annualized dividend and a yield of 0.72%. Paycom Software’s dividend payout ratio (DPR) is currently 16.85%.

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.