Paycom Software (NYSE:PAYC) Given New $221.00 Price Target at Citigroup

Paycom Software (NYSE:PAYC) had its price target trimmed by Citigroup from $234.00 to $221.00 in a research report sent to investors on Thursday,Benzinga reports. The firm currently has a neutral rating on the software maker’s stock.

PAYC has been the topic of a number of other reports. Jefferies Financial Group upped their target price on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Piper Sandler increased their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. BMO Capital Markets increased their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Barclays increased their price objective on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, TD Cowen increased their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Twelve analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $199.75.

Paycom Software Trading Up 0.3 %

NYSE:PAYC opened at $208.51 on Thursday. The firm has a market cap of $12.02 billion, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 2.78 and a beta of 1.14. The company’s 50-day moving average is $218.99 and its two-hundred day moving average is $184.54. Paycom Software has a 12-month low of $139.50 and a 12-month high of $242.74.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were issued a $0.375 dividend. The ex-dividend date was Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.72%. Paycom Software’s dividend payout ratio is 18.05%.

Insider Activity

In related news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $164.29, for a total value of $320,365.50. Following the completion of the sale, the chief executive officer now owns 2,760,660 shares of the company’s stock, valued at approximately $453,548,831.40. The trade was a 0.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold 21,450 shares of company stock worth $4,212,449 in the last 90 days. Company insiders own 12.60% of the company’s stock.

Institutional Investors Weigh In On Paycom Software

Several large investors have recently made changes to their positions in the company. Phillips Wealth Planners LLC bought a new stake in shares of Paycom Software in the 4th quarter valued at approximately $235,000. Barlow Wealth Partners Inc. grew its stake in shares of Paycom Software by 4.3% in the 4th quarter. Barlow Wealth Partners Inc. now owns 97,986 shares of the software maker’s stock valued at $20,121,000 after buying an additional 4,034 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Paycom Software by 175.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,351 shares of the software maker’s stock valued at $1,507,000 after buying an additional 4,685 shares in the last quarter. JBGlobal.com LLC bought a new stake in shares of Paycom Software in the 4th quarter valued at approximately $285,000. Finally, Atomi Financial Group Inc. bought a new stake in shares of Paycom Software in the 4th quarter valued at approximately $246,000. 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.