Analysts Set Paycom Software, Inc. (NYSE:PAYC) Price Target at $202.56

Paycom Software, Inc. (NYSE:PAYC) has been assigned a consensus recommendation of “Hold” from the twelve ratings firms that are covering the firm, Marketbeat reports. Eleven investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $202.56.

Several research firms have recently commented on PAYC. Barclays lifted their price target on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Piper Sandler lifted their target price on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. StockNews.com upgraded Paycom Software from a “hold” rating to a “buy” rating in a research note on Monday, December 16th. BMO Capital Markets lifted their price objective on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Finally, TD Cowen increased their target price on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research note on Monday, December 9th.

Insider Activity

In related news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $165.31, for a total value of $322,354.50. Following the sale, the chief executive officer now directly owns 2,785,560 shares in the company, valued at $460,480,923.60. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 33,150 shares of company stock worth $6,130,586. 14.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC acquired a new stake in Paycom Software during the 2nd quarter valued at $25,000. Armstrong Advisory Group Inc. purchased a new position in shares of Paycom Software during the third quarter valued at $26,000. Brooklyn Investment Group acquired a new position in Paycom Software during the third quarter valued at $28,000. Pin Oak Investment Advisors Inc. lifted its stake in Paycom Software by 73.3% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after acquiring an additional 77 shares in the last quarter. Finally, Sentry Investment Management LLC acquired a new stake in Paycom Software during the 2nd quarter worth about $33,000. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Stock Performance

Shares of PAYC stock opened at $201.40 on Friday. Paycom Software has a fifty-two week low of $139.50 and a fifty-two week high of $242.74. The stock’s fifty day moving average is $218.36 and its two-hundred day moving average is $179.62. The firm has a market capitalization of $11.61 billion, a P/E ratio of 24.24, a PEG ratio of 3.12 and a beta of 1.11.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 25th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.74%. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

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.