Paycom Software, Inc. (NYSE:PAYC) CEO Sells $324,870.00 in Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Monday, September 30th. The stock was sold at an average price of $166.60, for a total transaction of $324,870.00. Following the sale, the chief executive officer now directly owns 2,795,310 shares in the company, valued at approximately $465,698,646. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Paycom Software Stock Performance

Shares of PAYC opened at $166.56 on Friday. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $279.96. The company’s 50-day simple moving average is $163.65 and its 200-day simple moving average is $167.34. The stock has a market capitalization of $9.57 billion, a PE ratio of 20.29, a P/E/G ratio of 2.37 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, topping the consensus estimate of $1.13 by $0.07. Paycom Software had a net margin of 26.55% and a return on equity of 33.36%. The business had revenue of $437.51 million during the quarter, compared to the consensus estimate of $436.19 million. On average, sell-side analysts predict that Paycom Software, Inc. will post 6.67 earnings per share for the current year.

Paycom Software Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PAYC. StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. TD Cowen lifted their target price on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Barclays increased their price target on shares of Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Citigroup reduced their price target on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 18th. Finally, Jefferies Financial Group lowered their price objective 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. Seventeen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $179.75.

Hedge Funds Weigh In On Paycom Software

A number of institutional investors and hedge funds have recently modified their holdings of the company. Sylebra Capital LLC purchased a new stake in Paycom Software during the 1st quarter worth about $253,196,000. ValueAct Holdings L.P. purchased a new stake in Paycom Software during the fourth quarter worth approximately $125,686,000. 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 in the last quarter. Raymond James & Associates increased its stake 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 last quarter. Finally, Strategic Financial Concepts LLC raised its holdings in 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. Institutional investors and hedge funds own 87.77% of the company’s stock.

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.