Mizuho Forecasts Strong Price Appreciation for Paycom Software (NYSE:PAYC) Stock

Paycom Software (NYSE:PAYC - Free Report) had its target price upped by Mizuho from $170.00 to $190.00 in a research report released on Monday morning, Benzinga reports. Mizuho currently has a neutral rating on the software maker's stock.

A number of other research firms have also commented on PAYC. BMO Capital Markets increased 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. TD Cowen upped their price target on Paycom Software from $171.00 to $188.00 and gave the company a "hold" rating in a research report on Monday, September 23rd. Citigroup lifted their price objective on Paycom Software from $172.00 to $196.00 and gave the stock a "neutral" rating in a report on Thursday. Barclays upped their price objective on shares of Paycom Software from $172.00 to $181.00 and gave the company an "equal weight" rating in a report on Thursday. Finally, StockNews.com downgraded shares of Paycom Software from a "buy" rating to a "hold" rating in a research note on Monday, July 15th. Twelve equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $193.67.

Paycom Software Stock Up 0.4 %

PAYC stock traded up $0.81 during mid-day trading on Monday, reaching $211.46. 818,390 shares of the company traded hands, compared to its average volume of 818,635. The stock has a market cap of $12.14 billion, a price-to-earnings ratio of 25.51, a P/E/G ratio of 2.97 and a beta of 1.13. Paycom Software has a fifty-two week low of $139.50 and a fifty-two week high of $222.30. The firm's 50 day moving average price is $167.57 and its 200 day moving average price is $163.00.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be given a dividend of $0.375 per share. 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 0.71%. Paycom Software's payout ratio is 18.05%.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CFO Craig E. Boelte sold 11,882 shares of the firm's stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the sale, the chief financial officer now owns 294,849 shares in the company, valued at $45,990,547.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Bradley Scott Smith sold 1,524 shares of the firm's stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $157.62, for a total value of $240,212.88. Following the sale, the insider now directly owns 14,769 shares of the company's stock, valued at $2,327,889.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Craig E. Boelte sold 11,882 shares of the firm's stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $155.98, for a total value of $1,853,354.36. Following the completion of the sale, the chief financial officer now directly owns 294,849 shares in the company, valued at $45,990,547.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,906 shares of company stock worth $11,827,441 over the last 90 days. Corporate insiders own 14.50% of the company's stock.

Hedge Funds Weigh In On Paycom Software

A number of hedge funds have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Paycom Software by 29.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker's stock valued at $12,848,000 after acquiring an additional 14,670 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Paycom Software by 17.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 59,242 shares of the software maker's stock valued at $11,790,000 after purchasing an additional 8,927 shares during the last quarter. Sylebra Capital LLC bought a new position in shares of Paycom Software in the 1st quarter worth approximately $253,196,000. Profund Advisors LLC purchased a new position in shares of Paycom Software in the second quarter worth approximately $589,000. Finally, BOKF NA boosted its holdings in shares of Paycom Software by 453.0% in the first quarter. BOKF NA now owns 9,219 shares of the software maker's stock worth $1,828,000 after buying an additional 7,552 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

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.