Brokerages Set Paycom Software, Inc. (NYSE:PAYC) PT at $212.80

Shares of Paycom Software, Inc. (NYSE:PAYC) have been given an average rating of “Hold” by the twelve brokerages that are covering the company, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $212.80.

PAYC has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, February 13th. Stifel Nicolaus lowered their target price on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. raised their price objective on shares of Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Citigroup dropped their price objective on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th.

Insiders Place Their Bets

In other news, Director J C. Watts, Jr. sold 500 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $218.22, for a total value of $109,110.00. Following the completion of the transaction, the director now owns 7,730 shares in the company, valued at $1,686,840.60. This trade represents a 6.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Randall Peck sold 3,600 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $212.19, for a total transaction of $763,884.00. Following the sale, the chief operating officer now directly owns 50,665 shares in the company, valued at approximately $10,750,606.35. This represents a 6.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,100 shares of company stock worth $1,476,024. Company insiders own 14.50% of the company’s stock.

Institutional Investors Weigh In On Paycom Software

Institutional investors and hedge funds have recently modified their holdings of the company. Glass Jacobson Investment Advisors llc boosted its position in Paycom Software by 746.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker’s stock worth $26,000 after purchasing an additional 112 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in shares of Paycom Software during the 4th quarter worth $30,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Paycom Software by 135.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker’s stock worth $33,000 after buying an additional 87 shares in the last quarter. Putney Financial Group LLC acquired a new stake in Paycom Software in the 4th quarter valued at about $39,000. Finally, IFP Advisors Inc grew its stake in Paycom Software by 635.7% in the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock valued at $43,000 after acquiring an additional 178 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Trading Up 2.6 %

Shares of NYSE:PAYC opened at $215.65 on Tuesday. The firm has a 50 day simple moving average of $212.70 and a 200-day simple moving average of $206.65. The company has a market capitalization of $12.48 billion, a PE ratio of 24.23, a P/E/G ratio of 2.40 and a beta of 0.97. Paycom Software has a twelve month low of $139.50 and a twelve month high of $242.74.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. As a group, equities research analysts predict that Paycom Software will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a $0.375 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.50 dividend on an annualized basis and a yield of 0.70%. Paycom Software’s payout ratio is currently 16.85%.

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.