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

by · The Markets Daily

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

Other analysts also recently issued research reports about the company. BMO Capital Markets lifted their target price on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. TD Cowen increased their price objective on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Piper Sandler increased their target price on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Citigroup lifted their price target on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Twelve 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 data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $193.67.

Read Our Latest Research Report on PAYC

Paycom Software Trading Down 1.7 %

Shares of PAYC opened at $227.19 on Monday. The stock has a market capitalization of $13.10 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 2.92 and a beta of 1.14. Paycom Software has a 12 month low of $139.50 and a 12 month high of $233.69. The firm has a fifty day simple moving average of $172.24 and a 200 day simple moving average of $164.35.

Paycom Software Dividend Announcement

The firm 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 $0.375 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.66%. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $216.60, for a total transaction of $422,370.00. Following the completion of the transaction, the chief executive officer now owns 2,743,110 shares of the company’s stock, valued at approximately $594,157,626. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Craig E. Boelte sold 11,882 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the completion of the sale, the chief financial officer now directly owns 294,849 shares of the company’s stock, valued at $45,990,547.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $216.60, for a total value of $422,370.00. Following the sale, the chief executive officer now owns 2,743,110 shares in the company, valued at approximately $594,157,626. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,382 shares of company stock valued at $11,805,199 in the last ninety days. 12.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Sylebra Capital LLC purchased a new position in Paycom Software during the first quarter worth about $253,196,000. Federated Hermes Inc. raised its holdings in shares of Paycom Software by 1,011.2% during the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock valued at $83,244,000 after buying an additional 529,591 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Paycom Software by 9,997.5% during the 3rd quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock valued at $46,859,000 after acquiring an additional 278,529 shares during the period. Confluence Investment Management LLC increased its position in shares of Paycom Software by 147.3% in the third quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock valued at $62,943,000 after acquiring an additional 225,081 shares during the period. Finally, Raymond James & Associates grew its holdings in shares of Paycom Software by 769.2% during the 2nd quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock worth $28,803,000 after acquiring an additional 178,198 shares during the period. 87.77% of the stock is owned by institutional investors.

Paycom Software Company Profile

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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.

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