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 stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $145.48, for a total transaction of $283,686.00. Following the sale, the chief executive officer now owns 3,045,158 shares in the company, valued at approximately $443,009,585.84. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Paycom Software Stock Performance

PAYC stock opened at $140.93 on Thursday. The company has a fifty day moving average price of $165.07 and a 200-day moving average price of $184.15. The company has a market capitalization of $8.19 billion, a P/E ratio of 17.17, a PEG ratio of 2.15 and a beta of 1.17. Paycom Software, Inc. has a 52-week low of $139.69 and a 52-week high of $374.04.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, May 1st. The software maker reported $4.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $2.29. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. The business had revenue of $499.88 million during the quarter, compared to the consensus estimate of $495.89 million. As a group, sell-side analysts forecast that Paycom Software, Inc. will post 6.37 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Tuesday, May 28th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Friday, May 24th. Paycom Software’s dividend payout ratio is presently 18.27%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. BMO Capital Markets reduced their price target on shares of Paycom Software from $200.00 to $190.00 and set a “market perform” rating on the stock in a research report on Thursday, May 2nd. Mizuho reduced their price target on shares of Paycom Software from $185.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. StockNews.com upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a research report on Tuesday, May 28th. William Blair reissued a “market perform” rating on shares of Paycom Software in a research note on Thursday, May 2nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research note on Thursday, May 2nd. Sixteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Paycom Software has an average rating of “Hold” and a consensus target price of $237.81.

Hedge Funds Weigh In On Paycom Software

Hedge funds have recently bought and sold shares of the company. Mather Group LLC. bought a new position in Paycom Software during the first quarter worth $26,000. Hexagon Capital Partners LLC raised its stake in Paycom Software by 333.3% during the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock worth $27,000 after buying an additional 100 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in Paycom Software by 83.5% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock worth $40,000 after buying an additional 71 shares during the last quarter. Palisade Asset Management LLC acquired a new stake in Paycom Software in the first quarter worth $32,000. Finally, Transcendent Capital Group LLC acquired a new stake in Paycom Software in the fourth quarter worth $41,000. 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.