Citigroup Issues Pessimistic Forecast for Paycom Software (NYSE:PAYC) Stock Price

Paycom Software (NYSE:PAYC - Free Report) had its price target lowered by Citigroup from $234.00 to $221.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the software maker's stock.

Several other research analysts have also weighed in on the stock. Piper Sandler increased their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. StockNews.com downgraded shares of Paycom Software from a "buy" rating to a "hold" rating in a research note on Wednesday. BMO Capital Markets lifted their price target on shares of Paycom Software from $183.00 to $197.00 and gave the company a "market perform" rating in a report on Thursday, October 31st. Jefferies Financial Group upped 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. 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 report on Thursday, October 31st. Twelve investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $199.75.

Paycom Software Stock Up 0.3 %

Shares of NYSE:PAYC traded up $0.55 during midday trading on Thursday, reaching $208.51. The company's stock had a trading volume of 544,314 shares, compared to its average volume of 463,410. The business has a 50 day moving average price of $218.99 and a 200 day moving average price of $184.25. Paycom Software has a 1 year low of $139.50 and a 1 year high of $242.74. The firm 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Monday, November 25th. Paycom Software's payout ratio is 18.05%.

Insider Activity

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $229.09, for a total value of $446,725.50. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 21,450 shares of company stock worth $4,212,449. 12.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Armstrong Advisory Group Inc. purchased a new stake in Paycom Software during the 3rd quarter worth $26,000. Brooklyn Investment Group acquired a new stake in shares of Paycom Software during the third quarter valued at about $28,000. Pin Oak Investment Advisors Inc. increased its position in shares of 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 acquiring an additional 77 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of 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. Finally, Blue Trust Inc. lifted its stake in shares of Paycom Software by 277.1% in the third quarter. Blue Trust Inc. now owns 264 shares of the software maker's stock worth $44,000 after acquiring an additional 194 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

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.