Mizuho Forecasts Strong Price Appreciation for Paycom Software (NYSE:PAYC) Stock

Paycom Software (NYSE:PAYC) had its price objective raised by Mizuho from $170.00 to $190.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a neutral rating on the software maker’s stock.

Several other research analysts also recently weighed in on PAYC. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Barclays boosted their price target on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Citigroup increased their price objective on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Finally, Jefferies Financial Group upped their price target on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Paycom Software presently has an average rating of “Hold” and a consensus target price of $193.67.

Paycom Software Stock Performance

NYSE:PAYC opened at $231.09 on Monday. The company’s 50-day simple moving average is $170.97 and its 200-day simple moving average is $163.91. Paycom Software has a fifty-two week low of $139.50 and a fifty-two week high of $233.69. The stock has a market capitalization of $13.32 billion, a P/E ratio of 27.81, a P/E/G ratio of 2.92 and a beta of 1.14.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Insider Activity at Paycom Software

In other Paycom Software news, CFO Craig E. Boelte sold 11,882 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $155.98, for a total value of $1,853,354.36. Following the completion of the transaction, the chief financial officer now owns 294,849 shares in the company, valued at approximately $45,990,547.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $155.63, for a total value of $303,478.50. Following the completion of the sale, the chief executive officer now owns 2,978,858 shares of the company’s stock, valued at approximately $463,599,670.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Craig E. Boelte sold 11,882 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now owns 294,849 shares of the company’s stock, valued at $45,990,547.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,332 shares of company stock worth $12,113,825. 12.60% of the stock is owned by company insiders.

Institutional Trading of Paycom Software

A number of institutional investors and hedge funds have recently modified their holdings of PAYC. Sylebra Capital LLC acquired a new stake in Paycom Software in the 1st quarter worth about $253,196,000. Federated Hermes Inc. boosted its stake in shares of Paycom Software by 1,011.2% in the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock worth $83,244,000 after acquiring an additional 529,591 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Paycom Software by 9,997.5% during the third quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock worth $46,859,000 after purchasing an additional 278,529 shares in the last quarter. Confluence Investment Management LLC raised its stake in Paycom Software by 147.3% in the 3rd quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock valued at $62,943,000 after purchasing an additional 225,081 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in Paycom Software by 769.2% in the 2nd quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock valued at $28,803,000 after purchasing an additional 178,198 shares in the last quarter. Hedge funds and other 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.