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

Paycom Software, Inc. (NYSE:PAYC) has received a consensus rating of “Hold” from the twelve ratings firms that are covering the company, MarketBeat reports. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $193.67.

A number of brokerages have recently commented on PAYC. BMO Capital Markets upped their price target on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. TD Cowen increased their price objective on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Finally, Barclays increased their price objective on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st.

Insider Activity

In other news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $159.79, for a total transaction of $311,590.50. Following the transaction, the chief executive officer now directly owns 2,969,108 shares in the company, valued at approximately $474,433,767.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 56,550 shares of company stock worth $9,648,366. 14.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Paycom Software

Several institutional investors have recently modified their holdings of the company. Wrapmanager Inc. grew its position in Paycom Software by 2.6% during the 3rd quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock worth $362,000 after acquiring an additional 56 shares during the last quarter. Empirical Finance LLC grew its position in Paycom Software by 3.9% during the 1st quarter. Empirical Finance LLC now owns 1,580 shares of the software maker’s stock worth $314,000 after acquiring an additional 60 shares during the last quarter. Andina Capital Management LLC lifted its holdings in Paycom Software by 4.0% in 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 period. Davis Investment Partners LLC lifted its holdings in 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 buying an additional 64 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Paycom Software by 26.7% in the 3rd quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock worth $54,000 after buying an additional 68 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Price Performance

Shares of NYSE PAYC opened at $227.70 on Friday. Paycom Software has a one year low of $139.50 and a one year high of $233.69. The business’s fifty day moving average price is $173.56 and its 200-day moving average price is $164.31. The stock has a market capitalization of $13.13 billion, a PE ratio of 27.72, a P/E/G ratio of 3.06 and a beta of 1.14.

Paycom Software Announces Dividend

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 paid a $0.375 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.66%. Paycom Software’s dividend payout ratio is currently 18.05%.

Paycom Software Company Profile

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.