Paycom Software (NYSE:PAYC) Sets New 1-Year High – Time to Buy?

Paycom Software, Inc. (NYSE:PAYC)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $235.21 and last traded at $235.14, with a volume of 48705 shares changing hands. The stock had previously closed at $230.32.

Analyst Ratings Changes

PAYC has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Piper Sandler upped their price target 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. Mizuho boosted their target price on shares of Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Barclays boosted their target price on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Finally, TD Cowen lifted their target price on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Twelve 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 company currently has an average rating of “Hold” and an average target price of $193.67.

Paycom Software Stock Performance

The stock has a market cap of $13.53 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 3.07 and a beta of 1.14. The company’s 50-day moving average price is $185.75 and its 200 day moving average price is $167.39.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s dividend payout ratio is presently 18.05%.

Insider Buying and Selling at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $229.09, for a total transaction of $446,725.50. Following the completion of the transaction, the chief executive officer now directly owns 2,731,410 shares in the company, valued at $625,738,716.90. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 56,550 shares of company stock valued at $10,044,801 over the last 90 days. 12.60% of the stock is owned by insiders.

Institutional Trading of Paycom Software

Several hedge funds have recently added to or reduced their stakes in PAYC. Ashton Thomas Private Wealth LLC purchased a new stake in Paycom Software during the second quarter worth approximately $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of Paycom Software during the 2nd quarter worth approximately $26,000. Armstrong Advisory Group Inc. acquired a new position in shares of Paycom Software in the 3rd quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Paycom Software in the 2nd quarter valued at $27,000. Finally, Brooklyn Investment Group acquired a new stake in Paycom Software during the 3rd quarter worth $28,000. Institutional investors and hedge funds 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.