Chad R. Richison Sells 1,950 Shares of Paycom Software, Inc. (NYSE:PAYC) Stock

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

Paycom Software Stock Down 1.7 %

PAYC stock opened at $227.19 on Friday. The business has a 50 day moving average price of $172.24 and a 200 day moving average price of $164.35. The stock has a market cap of $13.10 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 2.92 and a beta of 1.14. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $233.69.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders 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 dividend yield of 0.66%. Paycom Software’s dividend payout ratio is presently 18.05%.

Analyst Ratings Changes

Several research firms recently issued reports on PAYC. Piper Sandler increased their target price on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Citigroup lifted their price objective 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. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Finally, Mizuho upped their price objective on Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Paycom Software has a consensus rating of “Hold” and an average price target of $193.67.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Armstrong Advisory Group Inc. purchased a new stake in Paycom Software in the third quarter valued at $26,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Paycom Software in the 2nd quarter valued at about $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of Paycom Software in the 2nd quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Paycom Software in the 2nd quarter valued at about $27,000. Finally, Sentry Investment Management LLC purchased a new position in Paycom Software during the 2nd quarter worth approximately $33,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

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.