Insider Selling: Paycom Software, Inc. (NYSE:PAYC) CEO Sells $312,858.00 in Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $160.44, for a total transaction of $312,858.00. Following the completion of the sale, the chief executive officer now owns 2,988,608 shares of the company’s stock, valued at $479,492,267.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Paycom Software Price Performance

Shares of NYSE:PAYC opened at $159.26 on Friday. The business’s fifty day moving average price is $150.11 and its two-hundred day moving average price is $174.26. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $299.00. The stock has a market capitalization of $9.25 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 2.71 and a beta of 1.16.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Monday, August 26th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Monday, August 26th. Paycom Software’s payout ratio is 18.27%.

Wall Street Analyst Weigh In

PAYC has been the subject of a number of recent analyst reports. Mizuho decreased their price target 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. Barclays increased their price objective on Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. BMO Capital Markets decreased their price target on shares of Paycom Software from $200.00 to $190.00 and set a “market perform” rating on the stock in a research report on Thursday, May 2nd. Finally, William Blair reaffirmed a “market perform” rating on shares of Paycom Software in a research report on Thursday, May 2nd. Seventeen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $178.33.

Hedge Funds Weigh In On Paycom Software

Institutional investors have recently added to or reduced their stakes in the company. Sylebra Capital LLC acquired a new stake in shares of Paycom Software during the first quarter worth approximately $253,196,000. ValueAct Holdings L.P. bought a new stake in shares of Paycom Software during the fourth quarter worth $125,686,000. Federated Hermes Inc. increased its stake in shares of Paycom Software by 1,011.2% in the second 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. Raymond James & Associates increased its stake in shares of Paycom Software by 769.2% in the second quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock valued at $28,803,000 after buying an additional 178,198 shares in the last quarter. Finally, Strategic Financial Concepts LLC raised its holdings in shares of Paycom Software by 12,268.6% in the second quarter. Strategic Financial Concepts LLC now owns 169,202 shares of the software maker’s stock valued at $242,000 after buying an additional 167,834 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

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.