BMO Capital Markets Issues Positive Forecast for Paycom Software (NYSE:PAYC) Stock Price

Paycom Software (NYSE:PAYC) had its target price raised by BMO Capital Markets from $183.00 to $197.00 in a report published on Thursday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the software maker’s stock.

Other analysts also recently issued reports about the company. TD Cowen increased their target price on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Piper Sandler upped their price target on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a report on Thursday. StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Barclays upped their target price on shares of Paycom Software from $167.00 to $172.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Paycom Software currently has a consensus rating of “Hold” and an average target price of $191.44.

Paycom Software Price Performance

Shares of Paycom Software stock opened at $210.65 on Thursday. Paycom Software has a 1 year low of $139.50 and a 1 year high of $222.30. The firm’s 50-day moving average is $167.57 and its 200 day moving average is $163.17. The stock has a market cap of $12.10 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 2.97 and a beta of 1.13.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.07. The firm had revenue of $437.51 million for the quarter, compared to the consensus estimate of $436.19 million. Paycom Software had a net margin of 25.78% and a return on equity of 32.90%. On average, equities analysts expect that Paycom Software will post 6.64 EPS for the current fiscal year.

Paycom Software Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Monday, November 25th. Paycom Software’s payout ratio is 18.05%.

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Monday, August 5th. The shares were sold at an average price of $160.44, for a total transaction of $312,858.00. Following the transaction, the chief executive officer now owns 2,988,608 shares in the company, valued at $479,492,267.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal 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 Monday, August 5th. The stock was sold at an average price of $160.44, for a total value of $312,858.00. Following the completion of the sale, the chief executive officer now owns 2,988,608 shares in the company, valued at $479,492,267.52. This 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 this hyperlink. Also, insider Bradley Scott Smith sold 1,524 shares of Paycom Software stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $157.62, for a total value of $240,212.88. Following the transaction, the insider now directly owns 14,769 shares in the company, valued at approximately $2,327,889.78. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,906 shares of company stock valued at $11,731,540. Insiders own 14.50% of the company’s stock.

Hedge Funds Weigh In On Paycom Software

A number of hedge funds have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of Paycom Software during the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC purchased a new stake in Paycom Software in the 2nd quarter worth $26,000. Armstrong Advisory Group Inc. bought a new stake in Paycom Software during the third quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Paycom Software in the second quarter valued at about $27,000. Finally, Palisade Asset Management LLC bought a new position in shares of Paycom Software in the first quarter worth about $32,000. 87.77% of the stock is currently owned by institutional investors.

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.