Paycom Software (NYSE:PAYC) Reaches New 1-Year Low After Insider Selling

Paycom Software, Inc. (NYSE:PAYC)’s share price hit a new 52-week low on Wednesday after an insider sold shares in the company. The company traded as low as $140.11 and last traded at $140.11, with a volume of 144740 shares. The stock had previously closed at $141.54.

Specifically, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $179.78, for a total transaction of $350,571.00. Following the transaction, the chief executive officer now directly owns 3,090,008 shares of the company’s stock, valued at approximately $555,521,638.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $179.78, for a total transaction of $350,571.00. Following the transaction, the chief executive officer now owns 3,090,008 shares in the company, valued at approximately $555,521,638.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Amy Vickroy sold 1,381 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $143.39, for a total transaction of $198,021.59. Following the completion of the transaction, the executive vice president now directly owns 19,962 shares of the company’s stock, valued at approximately $2,862,351.18. The disclosure for this sale can be found here. Insiders sold 27,637 shares of company stock valued at $4,269,160 in the last quarter. 14.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PAYC shares. Mizuho reduced their price objective on Paycom Software from $185.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. TD Cowen decreased their price objective on shares of Paycom Software from $170.00 to $147.00 and set a “hold” rating for the company in a research note on Thursday, June 20th. StockNews.com upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a research note on Tuesday, May 28th. JPMorgan Chase & Co. raised their target price on shares of Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Finally, Jefferies Financial Group lowered their price target on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a report on Monday. Sixteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $237.81.

Paycom Software Stock Up 0.5 %

The company has a market capitalization of $8.24 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 2.15 and a beta of 1.17. The stock’s 50-day simple moving average is $164.20 and its two-hundred day simple moving average is $183.85.

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

Paycom Software Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in Paycom Software by 479.1% during the first quarter. EverSource Wealth Advisors LLC now owns 249 shares of the software maker’s stock worth $47,000 after buying an additional 206 shares in the last quarter. Aurora Investment Counsel purchased a new position in shares of Paycom Software during the 1st quarter worth $2,457,000. Cetera Advisors LLC boosted its position in shares of Paycom Software by 13.9% during the 1st quarter. Cetera Advisors LLC now owns 2,771 shares of the software maker’s stock valued at $551,000 after acquiring an additional 339 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Paycom Software by 490.0% in the first quarter. Cetera Investment Advisers now owns 18,042 shares of the software maker’s stock valued at $3,591,000 after purchasing an additional 14,984 shares during the period. Finally, Atria Investments Inc acquired a new stake in Paycom Software during the first quarter worth about $2,142,000. 87.77% of the stock is owned by institutional investors and hedge funds.

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.