Insider Selling: Paycom Software, Inc. (NYSE:PAYC) CEO Sells 1,950 Shares of Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $216.60, for a total value of $422,370.00. Following the completion of the transaction, the chief executive officer now directly owns 2,743,110 shares of the company’s stock, valued at $594,157,626. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Paycom Software Trading Up 5.7 %

PAYC opened at $231.09 on Thursday. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $233.69. The firm’s 50 day simple moving average is $170.97 and its two-hundred day simple moving average is $163.91. The company has a market capitalization of $13.32 billion, a PE ratio of 27.81, a PEG ratio of 2.92 and a beta of 1.14.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 annualized dividend and a yield of 0.65%. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Institutional Trading of Paycom Software

Several hedge funds have recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC purchased a new position in shares of Paycom Software during the 2nd quarter valued at about $25,000. MFA Wealth Advisors LLC bought a new position in shares of Paycom Software in the second quarter worth approximately $26,000. Armstrong Advisory Group Inc. bought a new position in shares of Paycom Software in the third quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Paycom Software in the second quarter worth $27,000. Finally, CVA Family Office LLC raised its position in shares of Paycom Software by 234.3% during the 2nd quarter. CVA Family Office LLC now owns 234 shares of the software maker’s stock valued at $33,000 after purchasing an additional 164 shares during the period. Institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PAYC shares. StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. TD Cowen lifted their price target on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Jefferies Financial Group upped their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Citigroup lifted their target price on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, BMO Capital Markets upped their price target on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $193.67.

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.