Jefferies Financial Group Raises Paycom Software (NYSE:PAYC) Price Target to $170.00

Paycom Software (NYSE:PAYC) had its price target boosted by Jefferies Financial Group from $155.00 to $170.00 in a research note released on Tuesday morning, Benzinga reports. Jefferies Financial Group currently has a hold rating on the software maker’s stock.

PAYC has been the subject of a number of other research reports. Barclays increased their price objective 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Finally, TD Cowen boosted their price target on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Seventeen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $182.25.

Paycom Software Stock Performance

NYSE PAYC opened at $165.18 on Tuesday. Paycom Software has a twelve month low of $139.50 and a twelve month high of $258.18. The stock has a market cap of $9.49 billion, a PE ratio of 19.90, a PEG ratio of 2.35 and a beta of 1.17. The firm has a 50-day simple moving average of $164.96 and a 200 day simple moving average of $164.16.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, July 31st. The software maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.07. The company had revenue of $437.51 million during the quarter, compared to the consensus estimate of $436.19 million. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. Research analysts forecast that Paycom Software will post 6.67 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 26th were paid a $0.375 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.50 annualized dividend and a dividend yield of 0.91%. Paycom Software’s dividend payout ratio (DPR) is currently 18.07%.

Insider Activity

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $165.55, for a total transaction of $322,822.50. Following the completion of the sale, the chief executive officer now directly owns 2,998,358 shares of the company’s stock, valued at approximately $496,378,166.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Bradley Scott Smith sold 1,524 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was 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 $2,327,889.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $165.55, for a total value of $322,822.50. Following the completion of the sale, the chief executive officer now owns 2,998,358 shares of the company’s stock, valued at $496,378,166.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,906 shares of company stock valued at $11,716,837 over the last 90 days. 14.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Paycom Software

Several institutional investors have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC bought a new position in Paycom Software during the 2nd quarter worth approximately $25,000. Mather Group LLC. bought a new position in shares of Paycom Software during the first quarter worth $26,000. MFA Wealth Advisors LLC acquired a new position in shares of Paycom Software in the 2nd quarter valued at $26,000. Armstrong Advisory Group Inc. bought a new stake in shares of Paycom Software in the 3rd quarter valued at $26,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Paycom Software during the 2nd quarter worth $27,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

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.