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

Shares of Paycom Software, Inc. (NYSE:PAYC) have earned a consensus rating of “Hold” from the seventeen analysts that are currently covering the firm, MarketBeat reports. Sixteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $179.75.

Several equities analysts have commented on the stock. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. TD Cowen lifted their price target on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday. Jefferies Financial Group decreased their price objective on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Barclays lifted their target price on Paycom Software from $161.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Finally, Citigroup decreased their target price on Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th.

Insider Transactions at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $140.20, for a total value of $273,390.00. Following the completion of the sale, the chief executive officer now owns 3,023,708 shares of the company’s stock, valued at $423,923,861.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $140.20, for a total transaction of $273,390.00. Following the transaction, the chief executive officer now directly owns 3,023,708 shares in the company, valued at $423,923,861.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Craig E. Boelte sold 11,882 shares of Paycom Software stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the sale, the chief financial officer now owns 294,849 shares of the company’s stock, valued at $45,990,547.02. The disclosure for this sale can be found here. In the last three months, insiders sold 73,856 shares of company stock valued at $11,641,723. Corporate insiders own 14.50% of the company’s stock.

Institutional Trading of Paycom Software

Several large investors have recently bought and sold shares of PAYC. Ashton Thomas Private Wealth LLC acquired a new position in shares of Paycom Software during the 2nd quarter worth approximately $25,000. Mather Group LLC. acquired a new position in shares of Paycom Software in the first quarter worth $26,000. MFA Wealth Advisors LLC purchased a new stake in shares of Paycom Software in the second quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Paycom Software during the second quarter valued at $27,000. Finally, Palisade Asset Management LLC purchased a new stake in Paycom Software during the 1st quarter worth about $32,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Stock Up 0.7 %

Paycom Software stock opened at $173.72 on Friday. The company’s 50 day moving average is $162.68 and its two-hundred day moving average is $168.07. The firm has a market cap of $10.09 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 2.39 and a beta of 1.17. Paycom Software has a 52-week low of $139.50 and a 52-week high of $279.96.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, July 31st. The software maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.07. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. The business had revenue of $437.51 million during the quarter, compared to the consensus estimate of $436.19 million. On average, equities research analysts anticipate that Paycom Software will post 6.67 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.50 annualized dividend and a yield of 0.86%. Paycom Software’s dividend payout ratio is currently 18.27%.

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.