Paycom Software (NYSE:PAYC) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Paycom Software (NYSE:PAYC) in a report published on Thursday, Benzinga reports.

A number of other analysts have also weighed in on PAYC. StockNews.com lowered shares of Paycom Software from a buy rating to a hold rating in a research report on Monday, July 15th. Jefferies Financial Group reduced their price target on Paycom Software from $170.00 to $145.00 and set a hold rating on the stock in a report on Monday, June 24th. TD Cowen cut their price objective on Paycom Software from $170.00 to $147.00 and set a hold rating on the stock in a research report on Thursday, June 20th. Mizuho decreased their price objective on shares of Paycom Software from $185.00 to $170.00 and set a neutral rating for the company in a report on Monday, May 6th. Finally, Citigroup dropped their target price on shares of Paycom Software from $193.00 to $162.00 and set a neutral rating on the stock in a research note on Tuesday, June 18th. Seventeen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $178.33.

Paycom Software Stock Performance

PAYC stock traded down $6.39 during mid-day trading on Thursday, reaching $157.92. 5,881 shares of the stock traded hands, compared to its average volume of 848,388. Paycom Software has a one year low of $139.50 and a one year high of $299.00. The stock has a market capitalization of $9.18 billion, a PE ratio of 20.01, a PEG ratio of 2.71 and a beta of 1.16. The business has a 50-day moving average price of $150.75 and a two-hundred day moving average price of $174.93.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 9th. Shareholders of record on Monday, August 26th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.95%. The ex-dividend date is Monday, August 26th. Paycom Software’s dividend payout ratio is currently 18.27%.

Insider Buying and Selling at Paycom Software

In related news, insider Jason D. Clark sold 906 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $143.61, for a total transaction of $130,110.66. Following the sale, the insider now directly owns 43,367 shares of the company’s stock, valued at $6,227,934.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $179.78, for a total transaction of $350,571.00. Following the transaction, the chief executive officer now owns 3,090,008 shares of the company’s stock, valued at $555,521,638.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason D. Clark sold 906 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $143.61, for a total transaction of $130,110.66. Following the completion of the sale, the insider now directly owns 43,367 shares of the company’s stock, valued at approximately $6,227,934.87. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,887 shares of company stock worth $8,722,999. Insiders own 14.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its position in shares of Paycom Software by 82,333.3% in the 2nd quarter. Larson Financial Group LLC now owns 2,473 shares of the software maker’s stock valued at $354,000 after purchasing an additional 2,470 shares during the period. Avory & Company LLC boosted its position in Paycom Software by 11.6% in the 2nd quarter. Avory & Company LLC now owns 31,087 shares of the software maker’s stock valued at $4,447,000 after buying an additional 3,237 shares during the last quarter. Versor Investments LP increased its holdings in Paycom Software by 7.5% during the 2nd quarter. Versor Investments LP now owns 4,300 shares of the software maker’s stock worth $615,000 after purchasing an additional 300 shares during the last quarter. Crestwood Advisors Group LLC lifted its holdings in Paycom Software by 4.8% during the 2nd quarter. Crestwood Advisors Group LLC now owns 2,923 shares of the software maker’s stock worth $418,000 after buying an additional 134 shares during the last quarter. Finally, Natixis Advisors LLC lifted its position in shares of Paycom Software by 81.4% in the 2nd quarter. Natixis Advisors LLC now owns 57,300 shares of the software maker’s stock worth $8,196,000 after buying an additional 25,712 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

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.