Paycom Software, Inc. (NYSE:PAYC - Get Free Report) shares reached a new 52-week high on Friday . The company traded as high as $238.18 and last traded at $237.89, with a volume of 49548 shares trading hands. The stock had previously closed at $231.81.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on PAYC. Jefferies Financial Group lifted their price target on Paycom Software from $170.00 to $175.00 and gave the company a "hold" rating in a report on Thursday, October 31st. BMO Capital Markets boosted their target price on Paycom Software from $183.00 to $197.00 and gave the stock a "market perform" rating in a report on Thursday, October 31st. Mizuho boosted their target price on Paycom Software from $170.00 to $190.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. TD Cowen boosted their target price on Paycom Software from $171.00 to $188.00 and gave the stock a "hold" rating in a report on Monday, September 23rd. Finally, Citigroup boosted their target price on Paycom Software from $172.00 to $196.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Twelve investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $193.67.
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Paycom Software Trading Up 2.0 %
The firm's fifty day moving average price is $198.43 and its 200-day moving average price is $171.45. The company has a market cap of $13.64 billion, a P/E ratio of 28.48, a P/E/G ratio of 3.09 and a beta of 1.11.
Paycom Software Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be issued a dividend of $0.375 per share. The ex-dividend date is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.63%. Paycom Software's payout ratio is presently 18.05%.
Insider Activity at Paycom Software
In related news, CEO Chad R. Richison sold 1,950 shares of the firm's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $167.31, for a total value of $326,254.50. Following the transaction, the chief executive officer now owns 2,935,958 shares in the company, valued at $491,215,132.98. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 52,650 shares of company stock valued at $9,414,035 in the last three months. Corporate insiders own 14.50% of the company's stock.
Institutional Trading of Paycom Software
A number of institutional investors have recently bought and sold shares of PAYC. Cetera Investment Advisers grew its holdings in Paycom Software by 490.0% during the 1st quarter. Cetera Investment Advisers now owns 18,042 shares of the software maker's stock worth $3,591,000 after acquiring an additional 14,984 shares during the period. Cetera Advisors LLC grew its holdings in shares of Paycom Software by 13.9% in the 1st quarter. Cetera Advisors LLC now owns 2,771 shares of the software maker's stock valued at $551,000 after buying an additional 339 shares during the period. Mather Group LLC. grew its holdings in shares of Paycom Software by 128.8% in the 2nd quarter. Mather Group LLC. now owns 286 shares of the software maker's stock valued at $41,000 after buying an additional 161 shares during the period. CWM LLC grew its holdings in shares of Paycom Software by 42.4% in the 2nd quarter. CWM LLC now owns 1,672 shares of the software maker's stock valued at $239,000 after buying an additional 498 shares during the period. Finally, Hexagon Capital Partners LLC grew its holdings in shares of Paycom Software by 153.8% in the 2nd quarter. Hexagon Capital Partners LLC now owns 330 shares of the software maker's stock valued at $47,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 87.77% of the company's stock.
About Paycom Software
(
Get Free Report)
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.
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