Citigroup Cuts Paycom Software (NYSE:PAYC) Price Target to $221.00

Paycom Software (NYSE:PAYC) had its price objective cut by Citigroup from $234.00 to $221.00 in a report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the software maker’s stock.

Several other analysts also recently commented on PAYC. Piper Sandler upped their price target on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets boosted their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. TD Cowen boosted their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Finally, Barclays boosted their price objective on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Twelve investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $199.75.

Paycom Software Price Performance

PAYC stock opened at $208.51 on Thursday. The company has a fifty day moving average price of $218.99 and a 200 day moving average price of $184.54. Paycom Software has a 12 month low of $139.50 and a 12 month high of $242.74. The company has a market cap of $12.02 billion, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 2.78 and a beta of 1.14.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 9th. Stockholders 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 dividend yield of 0.72%. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Insider Transactions at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $229.09, for a total transaction of $446,725.50. Following the transaction, the chief executive officer now directly owns 2,731,410 shares of the company’s stock, valued at $625,738,716.90. This represents a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 21,450 shares of company stock valued at $4,212,449 in the last ninety days. 12.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Paycom Software

Large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its stake in Paycom Software by 51.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker’s stock valued at $444,000 after acquiring an additional 905 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Paycom Software by 14.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock valued at $54,305,000 after acquiring an additional 41,187 shares during the last quarter. Profund Advisors LLC acquired a new stake in Paycom Software in the 2nd quarter valued at about $589,000. Sylebra Capital LLC grew its stake in Paycom Software by 53.9% in the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock valued at $279,996,000 after acquiring an additional 685,190 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in Paycom Software by 9.3% in the 3rd quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock valued at $10,962,000 after acquiring an additional 5,574 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

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.