Paycom Software (NYSE:PAYC) Reaches New 12-Month High – Here’s Why

Paycom Software, Inc. (NYSE:PAYC)’s stock price reached 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 trading hands. The stock had previously closed at $230.32.

Analysts Set New Price Targets

PAYC has been the topic of several research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Jefferies Financial Group boosted their price objective on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Citigroup raised their target price on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Barclays boosted their target price on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, BMO Capital Markets upped 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 report on Thursday, October 31st. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Paycom Software currently has an average rating of “Hold” and an average target price of $193.67.

Paycom Software Price Performance

The company has a market cap of $13.53 billion, a P/E ratio of 27.72, a price-to-earnings-growth ratio of 3.07 and a beta of 1.14. The company has a 50 day moving average of $185.75 and a 200-day moving average of $167.39.

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 dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.64%. Paycom Software’s dividend payout ratio is 18.05%.

Insider Activity

In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $160.35, for a total value of $312,682.50. Following the completion of the transaction, the chief executive officer now directly owns 2,947,658 shares in the company, valued at $472,656,960.30. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 56,550 shares of company stock valued at $10,044,801. 12.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Paycom Software

Large investors have recently added to or reduced their stakes in the stock. Armstrong Advisory Group Inc. bought a new position in shares of Paycom Software in the third quarter worth approximately $26,000. Brooklyn Investment Group purchased a new stake in shares of Paycom Software during the third quarter worth about $28,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Paycom Software during the second quarter valued at approximately $25,000. Pin Oak Investment Advisors Inc. increased its holdings in Paycom Software by 73.3% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock valued at $30,000 after acquiring an additional 77 shares during the last quarter. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Paycom Software in the second quarter worth about $26,000. 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.