Paycom Software (NYSE:PAYC) Price Target Cut to $221.00 by Analysts at Barclays

Paycom Software (NYSE:PAYC) had its price objective lowered by Barclays from $229.00 to $221.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the software maker’s stock.

A number of other analysts have also weighed in on PAYC. Jefferies Financial Group increased their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Piper Sandler lifted their price objective on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Citigroup lowered their target price on Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. Finally, Mizuho raised their price objective on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Twelve equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $204.75.

Paycom Software Stock Down 1.2 %

Shares of NYSE PAYC opened at $205.14 on Thursday. Paycom Software has a 52 week low of $139.50 and a 52 week high of $242.74. The business’s 50 day moving average price is $217.81 and its 200 day moving average price is $185.92. The firm has a market cap of $11.83 billion, a P/E ratio of 24.69, a P/E/G ratio of 2.87 and a beta of 1.14.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 25th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.73%. The ex-dividend date was Monday, November 25th. Paycom Software’s payout ratio is 18.05%.

Insider Transactions at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $229.09, for a total value of $446,725.50. Following the sale, the chief executive officer now directly owns 2,731,410 shares in the company, valued at approximately $625,738,716.90. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold 15,600 shares of company stock valued at $3,240,510 over the last 90 days. Corporate insiders own 14.50% of the company’s stock.

Institutional Trading of Paycom Software

Institutional investors have recently made changes to their positions in the company. Sylebra Capital LLC lifted its holdings 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 purchasing an additional 685,190 shares in the last quarter. FMR LLC raised its position in shares of Paycom Software by 55.0% in the third quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock valued at $167,889,000 after buying an additional 357,723 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Paycom Software by 9,997.5% in the third quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock worth $46,859,000 after buying an additional 278,529 shares in the last quarter. Confluence Investment Management LLC boosted its position in Paycom Software by 147.3% during the third quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock worth $62,943,000 after acquiring an additional 225,081 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Paycom Software by 45.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 486,462 shares of the software maker’s stock valued at $81,030,000 after acquiring an additional 151,807 shares in the last quarter. 87.77% of the stock is 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.