Paycom Software, Inc. (NYSE:PAYC) Receives Average Rating of "Hold" from Analysts

Paycom Software, Inc. (NYSE:PAYC - Get Free Report) has been assigned a consensus recommendation of "Hold" from the twelve research firms that are presently covering the company, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $193.67.

PAYC has been the topic of a number of recent analyst reports. Citigroup upped their target price on Paycom Software from $172.00 to $196.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. BMO Capital Markets upped their target price 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. Jefferies Financial Group upped their target price on Paycom Software from $170.00 to $175.00 and gave the company a "hold" rating in a research report on Thursday, October 31st. Mizuho upped their target price on Paycom Software from $170.00 to $190.00 and gave the company a "neutral" rating in a research report on Monday, November 4th. Finally, Piper Sandler upped their target price on Paycom Software from $160.00 to $191.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st.

Paycom Software Price Performance

Paycom Software stock traded down $0.09 during midday trading on Wednesday, hitting $229.79. 249,703 shares of the company were exchanged, compared to its average volume of 794,920. The company's fifty day moving average price is $194.49 and its 200-day moving average price is $170.20. The company has a market cap of $13.25 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 3.09 and a beta of 1.11. Paycom Software has a fifty-two week low of $139.50 and a fifty-two week high of $237.33.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be paid 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 0.65%. Paycom Software's payout ratio is currently 18.05%.

Insider Buying and Selling

In other news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $167.31, for a total value of $326,254.50. Following the completion of the transaction, the chief executive officer now owns 2,935,958 shares of the company's stock, valued at approximately $491,215,132.98. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold a total of 52,650 shares of company stock worth $9,414,035 in the last three months. 12.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Sylebra Capital LLC grew its stake in shares of Paycom Software by 0.3% in the third quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker's stock worth $326,888,000 after purchasing an additional 5,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Paycom Software by 3.3% in the third quarter. Geode Capital Management LLC now owns 1,426,920 shares of the software maker's stock valued at $237,015,000 after buying an additional 45,404 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of Paycom Software by 9.4% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker's stock valued at $152,925,000 after buying an additional 92,049 shares during the period. FMR LLC lifted its holdings in shares of Paycom Software by 55.0% in the third quarter. FMR LLC now owns 1,007,919 shares of the software maker's stock valued at $167,889,000 after buying an additional 357,723 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Paycom Software by 1.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker's stock valued at $104,524,000 after buying an additional 6,488 shares during the period. 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.