Paycom Software (NYSE:PAYC) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of Paycom Software (NYSE:PAYC) from a buy rating to a hold rating in a research note published on Wednesday morning.

PAYC has been the topic of several other research reports. Jefferies Financial Group raised their price target on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. TD Cowen lifted their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research note on Monday, December 9th. BMO Capital Markets boosted their price target on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Barclays raised their price objective on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Finally, Piper Sandler upped 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. Twelve equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $199.75.

Paycom Software Stock Performance

PAYC stock opened at $208.51 on Wednesday. The stock’s fifty day moving average is $218.99 and its two-hundred day moving average is $184.25. The stock has a market capitalization of $12.02 billion, a price-to-earnings ratio of 25.09, a PEG ratio of 2.78 and a beta of 1.14. Paycom Software has a 1 year low of $139.50 and a 1 year high of $242.74.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, November 25th were given a $0.375 dividend. The ex-dividend date was Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.72%. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Insider Activity

In other news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $229.09, for a total value of $446,725.50. Following the transaction, the chief executive officer now owns 2,731,410 shares in the company, valued at $625,738,716.90. This represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 21,450 shares of company stock worth $4,212,449 over the last quarter. Corporate insiders own 12.60% of the company’s stock.

Institutional Investors Weigh In On Paycom Software

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Paycom Software during the second quarter worth $25,000. Armstrong Advisory Group Inc. bought a new stake in shares of Paycom Software in the 3rd quarter valued at approximately $26,000. Brooklyn Investment Group acquired a new position in Paycom Software in the third quarter worth approximately $28,000. Pin Oak Investment Advisors Inc. raised 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 valued at $30,000 after acquiring an additional 77 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its position in Paycom Software by 821.7% in the third quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock worth $35,000 after acquiring an additional 189 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

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.