Paycom Software (NYSE:PAYC) Given New $191.00 Price Target at Piper Sandler

Paycom Software (NYSE:PAYC) had its price objective hoisted by Piper Sandler from $160.00 to $191.00 in a report released on Thursday, Benzinga reports. The firm currently has a neutral rating on the software maker’s stock.

Several other analysts have also recently commented on PAYC. Barclays upped their target price on Paycom Software from $167.00 to $172.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. TD Cowen increased their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Finally, Jefferies Financial Group boosted their price objective on Paycom Software from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Twelve research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Paycom Software presently has a consensus rating of “Hold” and a consensus price target of $191.44.

Paycom Software Trading Up 0.8 %

Shares of PAYC opened at $210.65 on Thursday. The company has a market capitalization of $12.10 billion, a PE ratio of 25.35, a PEG ratio of 2.97 and a beta of 1.13. The stock’s 50-day moving average price is $167.57 and its two-hundred day moving average price is $163.00. Paycom Software has a 12 month low of $139.50 and a 12 month high of $222.30.

Paycom Software Dividend Announcement

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

Insider Buying and Selling at Paycom Software

In other news, insider Bradley Scott Smith sold 1,524 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $157.62, for a total transaction of $240,212.88. Following the completion of the sale, the insider now directly owns 14,769 shares of the company’s stock, valued at $2,327,889.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Paycom Software news, insider Bradley Scott Smith sold 1,524 shares of Paycom Software stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $157.62, for a total transaction of $240,212.88. Following the completion of the transaction, the insider now owns 14,769 shares in the company, valued at approximately $2,327,889.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $172.43, for a total value of $336,238.50. Following the completion of the sale, the chief executive officer now directly owns 2,750,910 shares of the company’s stock, valued at approximately $474,339,411.30. 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 90 days, insiders sold 69,956 shares of company stock worth $11,418,682. 14.50% of the stock is owned by corporate insiders.

Institutional Trading of Paycom Software

Several institutional investors and hedge funds have recently made changes to their positions in PAYC. Empirical Finance LLC boosted its holdings in Paycom Software by 3.9% during the first quarter. Empirical Finance LLC now owns 1,580 shares of the software maker’s stock worth $314,000 after purchasing an additional 60 shares during the last quarter. Andina Capital Management LLC grew its holdings in shares of Paycom Software by 4.0% in the third quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock valued at $275,000 after acquiring an additional 63 shares in the last quarter. Davis Investment Partners LLC increased its position in shares of Paycom Software by 1.0% during the third quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock valued at $1,067,000 after acquiring an additional 64 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Paycom Software by 26.7% during the third quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock worth $54,000 after acquiring an additional 68 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Paycom Software by 1.7% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,624 shares of the software maker’s stock worth $661,000 after purchasing an additional 79 shares during the last quarter. 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.