Paycom Software Inc (NYSE: PAYC) stock jumped 2.78% on Monday to $182.44 against a previous-day closing price of $177.50. With 1.04 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.88 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $184.53 whereas the lowest price it dropped to was $176.34. The 52-week range on PAYC shows that it touched its highest point at $374.04 and its lowest point at $146.15 during that stretch. It currently has a 1-year price target of $196.40. With its current market cap of 10.99 billion, PAYC has annualized dividend of $0.30 while the current yield stands at 0.16%. Beta for the stock currently stands at 1.25.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PAYC was up-trending over the past week, with a rise of 6.07%, but this was down by -29.58% over a month. Three-month performance dropped to -36.40% while six-month performance fell -36.92%. The stock lost -42.69% in the past year, while it has lost -41.21% so far this year. A look at the trailing 12-month EPS for PAYC yields 5.84 with Next year EPS estimates of 8.20. For the next quarter, that number is 1.78. This implies an EPS growth rate of 24.24% for this year and 7.47% for next year. EPS is expected to grow by 14.94% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 18.21%.
Float and Shares Shorts:
At present, 57.87 million PAYC shares are outstanding with a float of 51.31 million shares on hand for trading. On Oct 30, 2023, short shares totaled 1.15 million, which was 2.00% higher than short shares on Sep 28, 2023. In addition to Mr. Chad R. Richison as the firm’s Founder, President, CEO & Chairman of the Board, Mr. Craig E. Boelte serves as its CFO, Treasurer & Corporate Secretary.
Through their ownership of 81.41% of PAYC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 43.95% of PAYC, in contrast to 30.12% held by mutual funds. Shares owned by individuals account for 29.87%. As the largest shareholder in PAYC with 9.24% of the stake, The Vanguard Group, Inc. holds 5,587,177 shares worth 5,587,177. A second-largest stockholder of PAYC, AllianceBernstein LP, holds 3,024,771 shares, controlling over 5.00% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in PAYC, holding 2,745,846 shares or 4.54% stake. With a 2.66% stake in PAYC, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 1,608,235 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 1.97% of PAYC stock, is the second-largest Mutual Fund holder. It holds 1,189,036 shares valued at 291.28 million. Vanguard Mid Cap Index Fund holds 1.93% of the stake in PAYC, owning 1,167,338 shares worth 285.96 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PAYC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PAYC analysts setting a high price target of $270.00 and a low target of $140.00, the average target price over the next 12 months is $196.40. Based on these targets, PAYC could surge 47.99% to reach the target high and fall by -23.26% to reach the target low. Reaching the average price target will result in a growth of 7.65% from current levels.
Summary of Insider Activity:
Insiders traded PAYC stock several times over the past three months with 0 Buys and 3 Sells. In these transactions, 0 shares were bought while 2,130 shares were sold. The number of buy transactions has increased to 33 while that of sell transactions has risen to 19 over the past year. The total number of shares bought during that period was 165,968 while 19,033 shares were sold.