Paycom Software (NYSE:PAYC) Upgraded at StockNews.com

StockNews.com upgraded shares of Paycom Software (NYSE:PAYC) from a hold rating to a buy rating in a research note issued to investors on Monday morning.

Several other research firms have also issued reports on PAYC. Citigroup raised their price target on shares of Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. TD Cowen lifted their target price on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. BMO Capital Markets upped their price target on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Piper Sandler lifted their price objective on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Mizuho boosted their price objective on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Eleven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Paycom Software currently has a consensus rating of “Hold” and an average target price of $202.56.

Paycom Software Price Performance

Shares of PAYC opened at $209.49 on Monday. The business has a 50-day moving average of $209.20 and a 200-day moving average of $175.09. The company has a market capitalization of $12.08 billion, a price-to-earnings ratio of 25.21, a price-to-earnings-growth ratio of 3.12 and a beta of 1.11. Paycom Software has a 1 year low of $139.50 and a 1 year high of $242.74.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, November 25th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend was Monday, November 25th. Paycom Software’s payout ratio is 18.05%.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $170.85, for a total value of $333,157.50. Following the transaction, the chief executive officer now directly owns 2,807,010 shares of the company’s stock, valued at approximately $479,577,658.50. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 44,850 shares of company stock worth $8,107,983. Corporate insiders own 14.50% of the company’s stock.

Institutional Investors Weigh In On Paycom Software

Hedge funds and other institutional investors have recently made changes to their positions in the business. Peapack Gladstone Financial Corp grew its holdings in Paycom Software by 71.7% during the third quarter. Peapack Gladstone Financial Corp now owns 2,488 shares of the software maker’s stock worth $414,000 after buying an additional 1,039 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Paycom Software in the 3rd quarter worth $79,000. Sanctuary Advisors LLC raised its holdings in shares of Paycom Software by 42.1% in the third quarter. Sanctuary Advisors LLC now owns 8,501 shares of the software maker’s stock valued at $1,416,000 after purchasing an additional 2,517 shares during the last quarter. Pine Valley Investments Ltd Liability Co lifted its position in shares of Paycom Software by 26.5% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 14,053 shares of the software maker’s stock valued at $2,341,000 after purchasing an additional 2,944 shares in the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of Paycom Software by 2.3% during the third quarter. Toronto Dominion Bank now owns 24,825 shares of the software maker’s stock valued at $4,135,000 after purchasing an additional 569 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

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.