Paycom Software (NYSE:PAYC) Stock Price Expected to Rise, Mizuho Analyst Says

Paycom Software (NYSE:PAYC) had its price objective lifted by Mizuho from $190.00 to $210.00 in a report issued on Friday morning,Benzinga reports. The firm currently has a neutral rating on the software maker’s stock.

A number of other equities analysts have also weighed in on PAYC. Citigroup upped their price target on shares of Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. BMO Capital Markets upped their target price on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Jefferies Financial Group raised their price target on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Piper Sandler upped their price objective on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Barclays lifted their target price on Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $202.56.

Paycom Software Trading Down 2.3 %

Shares of NYSE:PAYC opened at $234.50 on Friday. The stock has a 50 day moving average of $205.46 and a 200 day moving average of $173.64. The company has a market cap of $13.52 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 3.20 and a beta of 1.11. Paycom Software has a 12-month low of $139.50 and a 12-month high of $242.74.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, November 25th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $170.85, for a total transaction of $333,157.50. Following the sale, the chief executive officer now directly owns 2,807,010 shares of the company’s stock, valued at $479,577,658.50. The trade was a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 46,800 shares of company stock valued at $8,439,854 over the last 90 days. 14.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Paycom Software

Large investors have recently modified their holdings of the stock. Private Trust Co. NA raised its position in Paycom Software by 11.2% in the 3rd quarter. Private Trust Co. NA now owns 526 shares of the software maker’s stock worth $88,000 after purchasing an additional 53 shares during the period. Wrapmanager Inc. grew its stake in shares of Paycom Software by 2.6% during 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 raised its holdings in shares of Paycom Software by 4.0% in the third 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 period. Davis Investment Partners LLC raised its holdings in shares of Paycom Software by 1.0% in the third quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock worth $1,067,000 after buying an additional 64 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Paycom Software by 26.7% during the 3rd quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock worth $54,000 after acquiring an additional 68 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

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.