Brokerages Set Paycom Software, Inc. (NYSE:PAYC) Target Price at $178.33

Paycom Software, Inc. (NYSE:PAYC) has earned a consensus rating of “Hold” from the seventeen ratings firms that are presently covering the company, MarketBeat reports. Sixteen analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $178.33.

PAYC has been the subject of several analyst reports. Mizuho cut their price target on Paycom Software from $185.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Citigroup cut their price target on Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a report on Tuesday, June 18th. Finally, Jefferies Financial Group cut their price target on Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a report on Monday, June 24th.

Paycom Software Stock Performance

PAYC stock opened at $162.78 on Monday. Paycom Software has a 1 year low of $139.50 and a 1 year high of $299.00. The stock’s 50 day moving average price is $155.18 and its 200 day moving average price is $170.35. The firm has a market cap of $9.46 billion, a P/E ratio of 19.83, a PEG ratio of 2.22 and a beta of 1.16.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Monday, August 26th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Monday, August 26th. This represents a $1.50 annualized dividend and a yield of 0.92%. Paycom Software’s dividend payout ratio is currently 18.27%.

Insider Activity at Paycom Software

In related news, EVP Amy Vickroy sold 1,381 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $143.39, for a total value of $198,021.59. Following the completion of the sale, the executive vice president now directly owns 19,962 shares in the company, valued at approximately $2,862,351.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $147.11, for a total value of $286,864.50. Following the completion of the transaction, the chief executive officer now directly owns 3,070,508 shares of the company’s stock, valued at approximately $451,702,431.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Amy Vickroy sold 1,381 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $143.39, for a total value of $198,021.59. Following the sale, the executive vice president now owns 19,962 shares of the company’s stock, valued at $2,862,351.18. The disclosure for this sale can be found here. In the last three months, insiders sold 78,093 shares of company stock worth $11,936,373. Corporate insiders own 14.50% of the company’s stock.

Institutional Trading of Paycom Software

Large investors have recently modified their holdings of the business. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Paycom Software during the second quarter valued at about $25,000. Mather Group LLC. acquired a new stake in shares of Paycom Software during the first quarter valued at about $26,000. MFA Wealth Advisors LLC acquired a new stake in shares of Paycom Software during the second quarter valued at about $26,000. Hexagon Capital Partners LLC grew its stake in shares of Paycom Software by 333.3% during the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock valued at $27,000 after acquiring an additional 100 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Paycom Software during the second quarter valued at about $27,000. 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.