Paycom Software (NYSE:PAYC) Price Target Raised to $248.00

Paycom Software (NYSE:PAYC) had its price target boosted by TD Cowen from $193.00 to $248.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a hold rating on the software maker’s stock.

A number of other analysts have also recently commented on the company. Citigroup lifted their price target on Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Piper Sandler lifted their target price on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Mizuho increased their price target on shares of Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. BMO Capital Markets lifted 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. Finally, Jefferies Financial Group upped their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Paycom Software currently has a consensus rating of “Hold” and a consensus target price of $200.33.

Paycom Software Trading Up 2.0 %

NYSE PAYC opened at $240.26 on Monday. The stock has a market cap of $13.85 billion, a P/E ratio of 28.91, a P/E/G ratio of 3.15 and a beta of 1.11. Paycom Software has a 12-month low of $139.50 and a 12-month high of $242.74. The company has a fifty day simple moving average of $202.66 and a two-hundred day simple moving average of $172.69.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date was Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Insider Buying and Selling

In related news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $229.09, for a total value of $446,725.50. Following the completion of the sale, the chief executive officer now owns 2,731,410 shares of the company’s stock, valued at approximately $625,738,716.90. The trade was a 0.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders sold 48,750 shares of company stock valued at $8,771,880. 12.60% of the stock is owned by company insiders.

Institutional Trading of Paycom Software

Institutional investors and hedge funds have recently modified their holdings of the stock. Armstrong Advisory Group Inc. acquired a new stake in Paycom Software in the 3rd quarter worth about $26,000. Brooklyn Investment Group purchased a new position in shares of Paycom Software in the third quarter valued at approximately $28,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Paycom Software in the second quarter worth approximately $25,000. Pin Oak Investment Advisors Inc. increased its position in shares of Paycom Software by 73.3% during the third quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after purchasing an additional 77 shares in the last quarter. Finally, MFA Wealth Advisors LLC acquired a new position in Paycom Software in the 2nd quarter valued at $26,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

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.