Paycom Software, Inc. (NYSE:PAYC - Get Free Report) has been given an average rating of "Hold" by the twelve ratings firms that are currently covering the company, MarketBeat reports. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $193.67.
Several brokerages recently weighed in on PAYC. Jefferies Financial Group increased their target price on Paycom Software from $170.00 to $175.00 and gave the company a "hold" rating in a research note on Thursday, October 31st. Mizuho boosted their target price on shares of Paycom Software from $170.00 to $190.00 and gave the stock a "neutral" rating in a research report on Monday, November 4th. BMO Capital Markets upped their target price 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. Piper Sandler raised their price target on shares of Paycom Software from $160.00 to $191.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Finally, Barclays upped 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 report on Thursday, October 31st.
Check Out Our Latest Report on Paycom Software
Paycom Software stock opened at $229.88 on Wednesday. Paycom Software has a fifty-two week low of $139.50 and a fifty-two week high of $237.33. The firm has a fifty day moving average price of $194.49 and a two-hundred day moving average price of $170.20. The firm has a market cap of $13.25 billion, a price-to-earnings ratio of 27.66, a P/E/G ratio of 3.09 and a beta of 1.11.
The firm also recently announced 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. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.65%. Paycom Software's dividend payout ratio (DPR) is presently 18.05%.
In other news, CEO Chad R. Richison sold 1,950 shares of the business's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $162.00, for a total transaction of $315,900.00. Following the completion of the sale, the chief executive officer now owns 2,941,808 shares in the company, valued at $476,572,896. The trade was a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 52,650 shares of company stock worth $9,414,035 in the last 90 days. Corporate insiders own 12.60% of the company's stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sylebra Capital LLC grew its holdings in Paycom Software by 0.3% during the third quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker's stock valued at $326,888,000 after purchasing an additional 5,000 shares during the period. Geode Capital Management LLC grew its holdings in shares of Paycom Software by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,426,920 shares of the software maker's stock valued at $237,015,000 after buying an additional 45,404 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of Paycom Software by 9.4% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker's stock valued at $152,925,000 after buying an additional 92,049 shares in the last quarter. FMR LLC raised its stake in Paycom Software by 55.0% during the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker's stock worth $167,889,000 after buying an additional 357,723 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Paycom Software by 1.0% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker's stock worth $104,524,000 after acquiring an additional 6,488 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.
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.
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