Paycom Software (NYSE:PAYC) Stock Price Expected to Rise, Piper Sandler Analyst Says

Paycom Software (NYSE:PAYC) had its target price boosted by Piper Sandler from $160.00 to $191.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the software maker’s stock.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group upped their price target on Paycom Software from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. TD Cowen upped their price target on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Finally, Barclays lifted their price objective on shares of Paycom Software from $167.00 to $172.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. Twelve 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, Paycom Software has an average rating of “Hold” and an average target price of $191.44.

Paycom Software Trading Up 0.8 %

Paycom Software stock opened at $210.65 on Thursday. The business’s 50 day simple moving average is $167.57 and its 200 day simple moving average is $163.00. Paycom Software has a 12 month low of $139.50 and a 12 month high of $222.30. The company has a market cap of $12.10 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 2.97 and a beta of 1.13.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be paid a $0.375 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.71%. Paycom Software’s dividend payout ratio is presently 18.05%.

Insider Activity

In related news, CFO Craig E. Boelte sold 11,882 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $155.98, for a total value of $1,853,354.36. Following the completion of the transaction, the chief financial officer now directly owns 294,849 shares in the company, valued at approximately $45,990,547.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Paycom Software news, CFO Craig E. Boelte sold 11,882 shares of Paycom Software 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 completion of the sale, the chief financial officer now owns 294,849 shares of the company’s stock, valued at $45,990,547.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bradley Scott Smith sold 1,524 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $157.62, for a total value of $240,212.88. Following the transaction, the insider now owns 14,769 shares in the company, valued at $2,327,889.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,956 shares of company stock worth $11,418,682. 14.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Paycom Software

A number of hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its stake in Paycom Software by 3.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 6,544 shares of the software maker’s stock worth $1,302,000 after purchasing an additional 217 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Paycom Software by 6.9% in the first quarter. Van ECK Associates Corp now owns 9,035 shares of the software maker’s stock worth $1,798,000 after purchasing an additional 581 shares during the last quarter. Norden Group LLC increased its stake in shares of Paycom Software by 13.6% in the first quarter. Norden Group LLC now owns 3,220 shares of the software maker’s stock worth $641,000 after buying an additional 385 shares during the period. Private Advisor Group LLC raised its holdings in Paycom Software by 10.9% during the 1st quarter. Private Advisor Group LLC now owns 2,796 shares of the software maker’s stock valued at $556,000 after buying an additional 274 shares during the last quarter. Finally, Diversify Advisory Services LLC purchased a new stake in shares of Paycom Software during the first quarter worth about $256,000. 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.