Mizuho Issues Positive Forecast for Paycom Software (NYSE:PAYC) Stock Price

Paycom Software (NYSE:PAYC) had its price objective hoisted by Mizuho from $170.00 to $190.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the software maker’s stock.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets boosted their target price on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Jefferies Financial Group lifted their target price 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. Finally, TD Cowen raised their target price on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Paycom Software currently has a consensus rating of “Hold” and a consensus target price of $193.67.

Paycom Software Trading Up 2.1 %

Shares of PAYC stock traded up $4.46 during mid-day trading on Monday, reaching $215.92. The stock had a trading volume of 140,622 shares, compared to its average volume of 815,466. Paycom Software has a 12-month low of $139.50 and a 12-month high of $222.30. The business has a 50-day simple moving average of $168.50 and a 200 day simple moving average of $163.19. The company has a market cap of $12.40 billion, a P/E ratio of 25.44, a price-to-earnings-growth ratio of 2.91 and a beta of 1.14.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be issued a $0.375 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.69%. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Insider Transactions at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 1,524 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $157.62, for a total transaction of $240,212.88. Following the sale, the insider now directly owns 14,769 shares of the company’s stock, valued at $2,327,889.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $209.62, for a total value of $408,759.00. Following the completion of the sale, the chief executive officer now directly owns 2,747,010 shares in the company, valued at $575,828,236.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bradley Scott Smith sold 1,524 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total transaction of $240,212.88. Following the transaction, the insider now owns 14,769 shares of the company’s stock, valued at approximately $2,327,889.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,906 shares of company stock valued at $11,827,441 over the last 90 days. 12.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Paycom Software

Institutional investors and hedge funds have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Paycom Software by 29.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock valued at $12,848,000 after buying an additional 14,670 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Paycom Software by 17.7% during the first quarter. Janney Montgomery Scott LLC now owns 59,242 shares of the software maker’s stock worth $11,790,000 after acquiring an additional 8,927 shares during the period. Sylebra Capital LLC purchased a new position in shares of Paycom Software in the 1st quarter worth about $253,196,000. Profund Advisors LLC bought a new position in shares of Paycom Software during the 2nd quarter valued at approximately $589,000. Finally, BOKF NA increased its position in Paycom Software by 453.0% in the first quarter. BOKF NA now owns 9,219 shares of the software maker’s stock worth $1,828,000 after buying an additional 7,552 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

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.