Jefferies Financial Group Raises Paycom Software (NYSE:PAYC) Price Target to $175.00

Paycom Software (NYSE:PAYC) had its price objective increased by Jefferies Financial Group from $170.00 to $175.00 in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has a hold rating on the software maker’s stock.

Several other equities analysts have also recently issued reports on PAYC. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. BMO Capital Markets boosted their price objective 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. Piper Sandler raised their target price on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Barclays upped their target price on Paycom Software from $167.00 to $172.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $191.44.

Paycom Software Stock Up 0.8 %

Shares of NYSE PAYC opened at $210.65 on Thursday. The stock’s 50 day moving average price is $167.57 and its two-hundred day moving average price is $163.00. Paycom Software has a 52-week low of $139.50 and a 52-week high of $222.30. The stock has a market capitalization of $12.10 billion, a P/E ratio of 25.35, a PEG ratio of 2.97 and a beta of 1.13.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.71%. The ex-dividend date is Monday, November 25th. Paycom Software’s payout ratio is currently 18.05%.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $155.63, for a total transaction of $303,478.50. Following the sale, the chief executive officer now directly owns 2,978,858 shares in the company, valued at approximately $463,599,670.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Craig E. Boelte sold 11,882 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the completion of the transaction, the chief financial officer now owns 294,849 shares of the company’s stock, valued at $45,990,547.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $155.63, for a total transaction of $303,478.50. Following the completion of the sale, the chief executive officer now owns 2,978,858 shares in the company, valued at approximately $463,599,670.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,956 shares of company stock worth $11,418,682 in the last 90 days. Corporate insiders own 14.50% of the company’s stock.

Hedge Funds Weigh In On Paycom Software

Several hedge funds have recently made changes to their positions in PAYC. Sylebra Capital LLC acquired a new stake in Paycom Software during the first quarter valued at approximately $253,196,000. Federated Hermes Inc. lifted its position in shares of Paycom Software by 1,011.2% during the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock valued at $83,244,000 after acquiring an additional 529,591 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Paycom Software by 9,997.5% during the 3rd quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock worth $46,859,000 after acquiring an additional 278,529 shares in the last quarter. Confluence Investment Management LLC grew its holdings in shares of Paycom Software by 147.3% in the 3rd 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, Raymond James & Associates raised its position in shares of Paycom Software by 769.2% during the second quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock worth $28,803,000 after purchasing an additional 178,198 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

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.