Paycom Software (NYSE:PAYC) Trading 3.5% Higher – Here’s What Happened

Paycom Software, Inc. (NYSE:PAYC) shares shot up 3.5% during mid-day trading on Monday . The stock traded as high as $171.64 and last traded at $171.64. 456,293 shares traded hands during trading, a decline of 44% from the average session volume of 814,786 shares. The stock had previously closed at $165.89.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PAYC. Barclays boosted 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. TD Cowen boosted 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. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Jefferies Financial Group lifted their price target on Paycom Software from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Seventeen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Paycom Software has a consensus rating of “Hold” and a consensus target price of $182.25.

Paycom Software Stock Down 1.2 %

The company has a fifty day simple moving average of $164.67 and a 200 day simple moving average of $164.15. The firm has a market capitalization of $9.44 billion, a P/E ratio of 19.81, a P/E/G ratio of 2.35 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, July 31st. The software maker reported $1.20 EPS for the quarter, topping the consensus estimate of $1.13 by $0.07. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. The business had revenue of $437.51 million for the quarter, compared to the consensus estimate of $436.19 million. As a group, equities analysts expect that Paycom Software, Inc. will post 6.67 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 26th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend was Monday, August 26th. Paycom Software’s dividend payout ratio is currently 18.07%.

Insider Transactions at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $169.17, for a total value of $329,881.50. Following the completion of the transaction, the chief executive officer now owns 2,764,560 shares in the company, valued at $467,680,615.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Bradley Scott Smith sold 1,524 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total transaction of $240,212.88. Following the completion of the sale, the insider now owns 14,769 shares in the company, valued at approximately $2,327,889.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $169.17, for a total value of $329,881.50. Following the sale, the chief executive officer now owns 2,764,560 shares of the company’s stock, valued at approximately $467,680,615.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,906 shares of company stock worth $11,714,516 over the last quarter. 14.50% of the stock is currently owned by insiders.

Institutional Trading of Paycom Software

A number of hedge funds have recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC purchased a new stake in Paycom Software in the second quarter worth about $25,000. Mather Group LLC. purchased a new stake in Paycom Software in the first quarter worth about $26,000. MFA Wealth Advisors LLC purchased a new stake in Paycom Software in the second quarter worth about $26,000. Armstrong Advisory Group Inc. purchased a new stake in Paycom Software in the third quarter worth about $26,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Paycom Software in the second quarter worth about $27,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

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.