Paycom Software, Inc. (NYSE:PAYC) CEO Sells $318,844.50 in Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $163.51, for a total value of $318,844.50. Following the completion of the transaction, the chief executive officer now directly owns 2,770,410 shares in the company, valued at approximately $452,989,739.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Paycom Software Stock Up 1.0 %

Shares of Paycom Software stock traded up $1.66 during mid-day trading on Thursday, reaching $165.23. 524,523 shares of the stock traded hands, compared to its average volume of 818,820. The business has a 50-day moving average of $163.92 and a 200 day moving average of $165.28. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $274.09. The stock has a market capitalization of $9.60 billion, a PE ratio of 19.86, a PEG ratio of 2.31 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, July 31st. The software maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.13 by $0.07. The firm had revenue of $437.51 million during the quarter, compared to analysts’ expectations of $436.19 million. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. On average, equities research analysts expect that Paycom Software, Inc. will post 6.67 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were paid a dividend of $0.375 per share. The ex-dividend date was Monday, August 26th. This represents a $1.50 annualized dividend and a yield of 0.91%. Paycom Software’s dividend payout ratio (DPR) is 18.27%.

Institutional Investors Weigh In On Paycom Software

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PAYC. Sylebra Capital LLC purchased a new position in shares of Paycom Software during the first quarter worth $253,196,000. Federated Hermes Inc. boosted its holdings in 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 purchasing an additional 529,591 shares during the period. Raymond James & Associates boosted its holdings in 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 purchasing an additional 178,198 shares during the period. Strategic Financial Concepts LLC increased its position in shares of Paycom Software by 12,268.6% during the second quarter. Strategic Financial Concepts LLC now owns 169,202 shares of the software maker’s stock worth $242,000 after purchasing an additional 167,834 shares in the last quarter. Finally, Sather Financial Group Inc acquired a new stake in shares of Paycom Software during the second quarter worth about $23,519,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Jefferies Financial Group reduced their price target on Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, June 24th. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. TD Cowen lifted their target price on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Finally, Barclays lifted their target price on Paycom Software from $167.00 to $172.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. Seventeen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $180.17.

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.