Paycom Software (NYSE:PAYC) Price Target Raised to $167.00 at Barclays

Paycom Software (NYSE:PAYC) had its target price upped by Barclays from $161.00 to $167.00 in a report released on Thursday morning, Benzinga reports. Barclays currently has an equal weight rating on the software maker’s stock.

Other analysts also recently issued reports about the stock. TD Cowen lowered their price target on shares of Paycom Software from $170.00 to $147.00 and set a hold rating for the company in a research note on Thursday, June 20th. JPMorgan Chase & Co. increased their target price on Paycom Software from $165.00 to $175.00 and gave the company a neutral rating in a report on Thursday, May 2nd. William Blair restated a market perform rating on shares of Paycom Software in a research report on Thursday, May 2nd. Jefferies Financial Group dropped their target price on shares of Paycom Software from $170.00 to $145.00 and set a hold rating for the company in a research report on Monday, June 24th. Finally, Mizuho reduced their price objective on Paycom Software from $185.00 to $170.00 and set a neutral rating for the company in a report on Monday, May 6th. Seventeen analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $238.25.

Paycom Software Stock Down 1.8 %

Paycom Software stock traded down $3.06 during midday trading on Thursday, reaching $164.32. The stock had a trading volume of 253,816 shares, compared to its average volume of 850,082. The firm’s 50-day moving average price is $150.88 and its 200 day moving average price is $175.42. The firm has a market capitalization of $9.55 billion, a PE ratio of 20.39, a P/E/G ratio of 2.77 and a beta of 1.16. Paycom Software has a 12 month low of $139.50 and a 12 month high of $303.13.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, May 1st. The software maker reported $4.25 earnings per share for the quarter, topping the consensus estimate of $1.96 by $2.29. The company had revenue of $499.88 million for the quarter, compared to analysts’ expectations of $495.89 million. Paycom Software had a net margin of 26.55% and a return on equity of 33.59%. Equities research analysts expect that Paycom Software will post 6.36 EPS for the current year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Monday, August 26th will be issued a dividend of $0.375 per share. The ex-dividend date is Monday, August 26th. This represents a $1.50 annualized dividend and a yield of 0.91%. Paycom Software’s payout ratio is 18.27%.

Insider Buying and Selling at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $140.20, for a total transaction of $273,390.00. Following the completion of the transaction, the chief executive officer now owns 3,023,708 shares in the company, valued at approximately $423,923,861.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $140.20, for a total value of $273,390.00. Following the transaction, the chief executive officer now directly owns 3,023,708 shares in the company, valued at approximately $423,923,861.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Amy Vickroy sold 1,381 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $143.39, for a total transaction of $198,021.59. Following the transaction, the executive vice president now directly owns 19,962 shares in the company, valued at $2,862,351.18. The disclosure for this sale can be found here. Insiders sold 56,887 shares of company stock worth $8,722,999 over the last 90 days. Company insiders own 14.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oak Family Advisors LLC bought a new position in shares of Paycom Software in the 4th quarter worth $2,994,000. ARK & TLK Investments LLC bought a new stake in shares of Paycom Software in the 4th quarter valued at about $2,260,000. Janney Montgomery Scott LLC grew its position in shares of Paycom Software by 26.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 50,315 shares of the software maker’s stock worth $10,401,000 after buying an additional 10,555 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Paycom Software by 29.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock valued at $12,848,000 after purchasing an additional 14,670 shares during the last quarter. Finally, Norges Bank purchased a new position in Paycom Software during the 4th quarter worth $6,670,000. 87.77% of the stock is currently owned by 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.