Paycom Software (NYSE:PAYC) Price Target Lowered to $221.00 at Barclays

Paycom Software (NYSE:PAYC) had its price objective reduced by Barclays from $229.00 to $221.00 in a report issued on Thursday morning,Benzinga reports. They currently have an equal weight rating on the software maker’s stock.

PAYC has been the topic of several other research reports. Jefferies Financial Group lifted their price target on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Citigroup lowered their price target on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. TD Cowen boosted their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a report on Monday, December 9th. BMO Capital Markets increased their target price on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Finally, StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. Twelve research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $204.75.

Paycom Software Trading Down 1.2 %

Paycom Software stock opened at $205.14 on Thursday. The company has a 50-day moving average price of $217.81 and a 200 day moving average price of $185.92. Paycom Software has a 12-month low of $139.50 and a 12-month high of $242.74. The stock has a market cap of $11.83 billion, a P/E ratio of 24.69, a PEG ratio of 2.87 and a beta of 1.14.

Paycom Software Announces Dividend

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

Insider Activity

In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $172.43, for a total value of $336,238.50. Following the completion of the transaction, the chief executive officer now owns 2,750,910 shares in the company, valued at approximately $474,339,411.30. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 15,600 shares of company stock worth $3,240,510. Corporate insiders own 14.50% of the company’s stock.

Institutional Trading of Paycom Software

A number of large investors have recently made changes to their positions in PAYC. Hantz Financial Services Inc. lifted its position in shares of Paycom Software by 5.5% during the 4th quarter. Hantz Financial Services Inc. now owns 44,510 shares of the software maker’s stock worth $9,123,000 after purchasing an additional 2,334 shares during the last quarter. Forsta AP Fonden acquired a new stake in Paycom Software in the fourth quarter valued at $2,296,000. Foster Victor Wealth Advisors LLC lifted its holdings in Paycom Software by 40.7% during the 4th quarter. Foster Victor Wealth Advisors LLC now owns 4,684 shares of the software maker’s stock worth $980,000 after buying an additional 1,354 shares during the last quarter. Cascade Investment Advisors Inc. increased its holdings in shares of Paycom Software by 6.1% in the 4th quarter. Cascade Investment Advisors Inc. now owns 7,799 shares of the software maker’s stock valued at $1,599,000 after acquiring an additional 445 shares during the last quarter. Finally, KBC Group NV raised its position in shares of Paycom Software by 71.1% during the 4th quarter. KBC Group NV now owns 32,052 shares of the software maker’s stock worth $6,570,000 after acquiring an additional 13,319 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

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.