Paycom Software, Inc. (NYSE:PAYC) CEO Sells $334,035.00 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, September 23rd. The shares were sold at an average price of $171.30, for a total transaction of $334,035.00. Following the completion of the sale, the chief executive officer now directly owns 2,805,060 shares of the company’s stock, valued at $480,506,778. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Paycom Software Trading Down 0.2 %

Shares of PAYC stock opened at $167.46 on Friday. The stock has a 50 day simple moving average of $162.82 and a 200-day simple moving average of $168.07. The company has a market cap of $9.73 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 2.44 and a beta of 1.17. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $279.96.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, July 31st. The software maker reported $1.20 earnings per share (EPS) for the quarter, topping 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 analysts forecast that Paycom Software, Inc. will post 6.67 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.50 annualized dividend and a yield of 0.90%. Paycom Software’s payout ratio is currently 18.27%.

Institutional Investors Weigh In On Paycom Software

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mather Group LLC. purchased a new position in Paycom Software in the 1st quarter valued at approximately $26,000. Palisade Asset Management LLC acquired a new stake in Paycom Software in the first quarter valued at $32,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Paycom Software in the second quarter valued at $25,000. MFA Wealth Advisors LLC purchased a new position in shares of Paycom Software in the second quarter valued at $26,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Paycom Software during the 2nd quarter worth $27,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PAYC shares. TD Cowen boosted their target price on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a report on Monday. Jefferies Financial Group decreased their price objective on Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a report on Monday, June 24th. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Citigroup reduced their price target on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Finally, Barclays increased their price target on shares of Paycom Software from $161.00 to $167.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Seventeen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $179.75.

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.