Brokerages Set Paycom Software, Inc. (NYSE:PAYC) Target Price at $236.38

Shares of Paycom Software, Inc. (NYSE:PAYC) have received a consensus recommendation of “Hold” from the seventeen analysts that are covering the firm, Marketbeat.com reports. Sixteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $178.33.

Several analysts have recently weighed in on PAYC shares. JPMorgan Chase & Co. raised their price objective on shares of Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Jefferies Financial Group cut their price objective on Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Mizuho cut their price target on Paycom Software from $185.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Finally, Citigroup decreased their price objective on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a report on Tuesday, June 18th.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $179.78, for a total transaction of $350,571.00. Following the transaction, the chief executive officer now owns 3,090,008 shares in the company, valued at $555,521,638.24. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Jason D. Clark sold 906 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $143.61, for a total transaction of $130,110.66. Following the sale, the insider now owns 43,367 shares of the company’s stock, valued at approximately $6,227,934.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $179.78, for a total value of $350,571.00. Following the completion of the transaction, the chief executive officer now directly owns 3,090,008 shares of the company’s stock, valued at $555,521,638.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,837 shares of company stock worth $9,042,234. 14.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Paycom Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PAYC. Mather Group LLC. bought a new position in shares of Paycom Software during the first quarter worth about $26,000. MFA Wealth Advisors LLC acquired a new position in Paycom Software during the 2nd quarter worth approximately $26,000. Hexagon Capital Partners LLC grew its stake in shares of Paycom Software by 333.3% during the 4th quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock worth $27,000 after acquiring an additional 100 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Paycom Software in the second quarter valued at approximately $27,000. Finally, Palisade Asset Management LLC bought a new stake in shares of Paycom Software in the first quarter worth $32,000. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $157.98 on Thursday. The company has a market capitalization of $9.18 billion, a PE ratio of 19.24, a P/E/G ratio of 2.71 and a beta of 1.16. The company’s fifty day moving average is $150.75 and its 200-day moving average is $174.93. Paycom Software has a 52 week low of $139.50 and a 52 week high of $299.00.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Monday, August 26th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, August 26th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.95%. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

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.