Paycom Software (NYSE:PAYC) Sets New 1-Year High – What’s Next?

Paycom Software, Inc. (NYSE:PAYC) shares hit a new 52-week high during trading on Monday . The company traded as high as $235.21 and last traded at $235.14, with a volume of 48705 shares traded. The stock had previously closed at $230.32.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PAYC. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. TD Cowen raised their price target on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Piper Sandler upped their price target on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. BMO Capital Markets raised 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 note on Thursday, October 31st. Finally, Jefferies Financial Group upped their target price on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Paycom Software presently has a consensus rating of “Hold” and a consensus price target of $193.67.

Paycom Software Stock Down 0.5 %

The company has a market cap of $13.55 billion, a PE ratio of 28.42, a PEG ratio of 3.12 and a beta of 1.14. The company’s fifty day moving average is $188.41 and its 200-day moving average is $168.26.

Paycom Software Announces Dividend

The company 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 dividend yield of 0.64%. The ex-dividend date is Monday, November 25th. Paycom Software’s payout ratio is currently 18.05%.

Insider Activity at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $162.00, for a total transaction of $315,900.00. Following the completion of the sale, the chief executive officer now owns 2,941,808 shares of the company’s stock, valued at $476,572,896. The trade was a 0.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders sold 54,600 shares of company stock worth $9,726,717. 12.60% of the stock is owned by insiders.

Institutional Trading of Paycom Software

Hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC lifted its position in shares of Paycom Software by 51.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker’s stock valued at $444,000 after buying an additional 905 shares in the last quarter. Profund Advisors LLC bought a new position in shares of Paycom Software in the second quarter worth approximately $589,000. Sylebra Capital LLC increased its stake in shares of Paycom Software by 53.9% in the second quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock worth $279,996,000 after purchasing an additional 685,190 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Paycom Software by 1,549.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 21,662 shares of the software maker’s stock valued at $3,098,000 after purchasing an additional 20,349 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Paycom Software by 9.3% during the 3rd quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock valued at $10,962,000 after buying an additional 5,574 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

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.