The shares of Paycom Software, Inc. (NYSE:PAYC – Get Free Report) hit a new 52-week high during trading on Friday. The stock traded as high as $238.18 and last traded at $237.89, with a volume of 49548 shares traded. The stock previously closed at $231.81.
Analysts set new price targets
A number of research firms have recently expressed their views on PAYC. TD Cowen raised their price target on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research report on Monday, September 23. Jefferies Financial Group raised their price target on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Mizuho raised their price target on Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, November 4. Barclays raised their price target on Paycom Software from $172.00 to $181.00 and gave the company an “equalweight” rating in a research note on Thursday, October 31. Finally, Piper Sandler raised their price objective on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31. Twelve equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of ‘Hold’ and an average price target of $193.67.
Check out our latest stock analysis on Paycom Software
Paycom Software Stock Rises 2.0%
The stock has a market cap of $13.64 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 3.09 and a beta of 1.11. The stock has a 50-day simple moving average of $198.43 and a 200-day simple moving average of $171.39.
Paycom Software announces dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, December 9. A dividend of $0.375 per share will be paid to shareholders of record on Monday, November 25. The ex-dividend date is Monday, November 25. This represents a dividend of $1.50 annually and a yield of 0.63%. Paycom Software’s dividend payout ratio (DPR) currently stands at 18.05%.
Insiders place their bets
In related news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Thursday, September 12. The stock sold at an average price of $167.31, for a total transaction of $326,254.50. Following the transaction, the CEO now owns 2,935,958 shares of the company’s stock, valued at $491,215,132.98. The transaction represented a 0.07% decrease in their ownership of the shares. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have sold 52,650 shares of the company’s stock worth $9,414,035. Insiders own 14.50% of the company’s shares.
Hedge funds weigh in on Paycom software
Major investors have recently been buying and selling shares of the stock. Private Trust Co. NA increased its stake in Paycom Software shares by 11.2% in the third quarter. Private Trust Co. NA now owns 526 shares of the software maker worth $88,000, after purchasing an additional 53 shares in the last quarter. Wrapmanager Inc. increased its stake in Paycom Software by 2.6% during the third quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock worth $362,000, after acquiring an additional 56 shares during the period. Andina Capital Management LLC strengthened its position in Paycom Software by 4.0% in the third quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock worth $275,000 after purchasing an additional 63 shares in the last quarter. Davis Investment Partners LLC grew its stake in Paycom Software by 1.0% in the third quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock worth $1,067,000 after purchasing an additional 64 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Paycom Software by 26.7% during the 3rd quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock worth $54,000 after purchasing an additional 68 shares in the last quarter. 87.77% of the shares are currently held by institutional investors.
About Paycom software
(Get a free report)
Paycom Software, Inc offers a cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized businesses in the United States. It provides functionality and data analytics that companies need to manage the employment lifecycle, from hiring to retirement.
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