Paycom Software (NYSE:PAYC) Price Target Raised to $197.00 at BMO Capital Markets

Paycom Software (NYSE:PAYC) had its target price lifted by BMO Capital Markets from $183.00 to $197.00 in a report released on Thursday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the software maker’s stock.

Other equities research analysts have also recently issued research reports about the stock. TD Cowen upped their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Barclays boosted their target price on Paycom Software from $167.00 to $172.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Finally, Jefferies Financial Group boosted their price objective on shares of Paycom Software from $155.00 to $170.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Seventeen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Paycom Software has a consensus rating of “Hold” and an average target price of $186.92.

Paycom Software Trading Up 0.1 %

Paycom Software stock traded up $0.16 during trading hours on Thursday, hitting $209.19. 235,412 shares of the stock traded hands, compared to its average volume of 814,477. The company has a market cap of $12.01 billion, a PE ratio of 25.15, a PEG ratio of 2.45 and a beta of 1.17. The firm’s 50-day moving average price is $166.62 and its two-hundred day moving average price is $163.23. Paycom Software has a one year low of $139.50 and a one year high of $222.30.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, July 31st. The software maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. Paycom Software had a net margin of 25.78% and a return on equity of 33.34%. The firm had revenue of $437.51 million for the quarter, compared to analysts’ expectations of $436.19 million. On average, sell-side analysts expect that Paycom Software will post 6.64 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Insider Activity at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $160.44, for a total transaction of $312,858.00. Following the completion of the transaction, the chief executive officer now directly owns 2,988,608 shares in the company, valued at approximately $479,492,267.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $160.44, for a total transaction of $312,858.00. Following the completion of the sale, the chief executive officer now directly owns 2,988,608 shares of the company’s stock, valued at approximately $479,492,267.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 approximately $2,327,889.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,906 shares of company stock worth $11,731,540. 14.50% of the stock is owned by company insiders.

Institutional Trading of Paycom Software

Institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its position in shares of Paycom Software by 3.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,544 shares of the software maker’s stock valued at $1,302,000 after buying an additional 217 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Paycom Software by 6.9% during the first quarter. Van ECK Associates Corp now owns 9,035 shares of the software maker’s stock valued at $1,798,000 after purchasing an additional 581 shares in the last quarter. Norden Group LLC grew its position in shares of Paycom Software by 13.6% in the first quarter. Norden Group LLC now owns 3,220 shares of the software maker’s stock valued at $641,000 after purchasing an additional 385 shares during the period. Private Advisor Group LLC raised its position in shares of Paycom Software by 10.9% during the 1st quarter. Private Advisor Group LLC now owns 2,796 shares of the software maker’s stock worth $556,000 after purchasing an additional 274 shares during the last quarter. Finally, Diversify Advisory Services LLC acquired a new position in shares of Paycom Software during the 1st quarter worth about $256,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

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.