Paycom Software (NYSE:PAYC) Shares Up 5.9% - Still a Buy?

Paycom Software, Inc. (NYSE:PAYC - Get Free Report)'s stock price rose 5.9% on Monday . The company traded as high as $223.82 and last traded at $225.10. Approximately 97,523 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 704,733 shares. The stock had previously closed at $212.65.

Analysts Set New Price Targets

Several analysts recently commented on PAYC shares. KeyCorp raised shares of Paycom Software from a "sector weight" rating to an "overweight" rating and set a $245.00 price objective on the stock in a research report on Monday. Citigroup cut their price objective on shares of Paycom Software from $234.00 to $221.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Piper Sandler increased their price objective on shares of Paycom Software from $191.00 to $224.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Stifel Nicolaus cut their price objective on shares of Paycom Software from $215.00 to $187.00 and set a "hold" rating on the stock in a research report on Thursday, February 13th. Finally, TD Cowen increased their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the company a "hold" rating in a research report on Monday, December 9th. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $212.80.

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Paycom Software Trading Up 1.8 %

The company's 50 day moving average price is $208.95 and its two-hundred day moving average price is $198.97. The stock has a market cap of $11.83 billion, a P/E ratio of 23.21, a PEG ratio of 2.40 and a beta of 1.14.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. On average, sell-side analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend is Monday, March 10th. Paycom Software's dividend payout ratio (DPR) is presently 16.85%.

Insider Transactions at Paycom Software

In other Paycom Software news, Director J C. Watts, Jr. sold 500 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $218.22, for a total transaction of $109,110.00. Following the sale, the director now owns 7,730 shares in the company, valued at approximately $1,686,840.60. This trade represents a 6.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Randall Peck sold 3,600 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $212.19, for a total transaction of $763,884.00. Following the sale, the chief operating officer now owns 50,665 shares in the company, valued at approximately $10,750,606.35. The trade was a 6.63 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 14.50% of the company's stock.

Institutional Investors Weigh In On Paycom Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PAYC. Principal Financial Group Inc. raised its position in shares of Paycom Software by 9.3% during the third quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker's stock valued at $10,962,000 after buying an additional 5,574 shares during the last quarter. Atria Investments Inc raised its position in shares of Paycom Software by 36.2% during the third quarter. Atria Investments Inc now owns 17,327 shares of the software maker's stock valued at $2,886,000 after buying an additional 4,601 shares during the last quarter. Axxcess Wealth Management LLC bought a new stake in shares of Paycom Software during the third quarter valued at approximately $208,000. Apollon Wealth Management LLC bought a new stake in shares of Paycom Software during the third quarter valued at approximately $1,186,000. Finally, KBC Group NV grew its holdings in shares of Paycom Software by 219.9% in the third quarter. KBC Group NV now owns 18,733 shares of the software maker's stock valued at $3,120,000 after purchasing an additional 12,877 shares in the last quarter. 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.