Insider Selling: Paycom Software, Inc. (NYSE:PAYC) CEO Sells $315,900.00 in Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $162.00, for a total value of $315,900.00. Following the transaction, the chief executive officer now directly owns 2,941,808 shares in the company, valued at $476,572,896. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Paycom Software Stock Down 0.6 %

NYSE PAYC opened at $167.55 on Friday. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $283.67. The company has a market capitalization of $9.74 billion, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 2.19 and a beta of 1.17. The stock’s 50-day moving average price is $158.77 and its 200-day moving average price is $168.77.

Paycom Software Dividend Announcement

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

Hedge Funds Weigh In On Paycom Software

A number of hedge funds have recently modified their holdings of PAYC. Sanctuary Advisors LLC purchased a new position in shares of Paycom Software during the 2nd quarter valued at $856,000. KPP Advisory Services LLC raised its holdings in Paycom Software by 31.5% during the second quarter. KPP Advisory Services LLC now owns 3,482 shares of the software maker’s stock valued at $498,000 after acquiring an additional 834 shares during the period. Aurora Investment Counsel raised its holdings in Paycom Software by 7.0% during the second quarter. Aurora Investment Counsel now owns 13,209 shares of the software maker’s stock valued at $1,889,000 after acquiring an additional 865 shares during the period. Cetera Investment Advisers lifted its position in shares of Paycom Software by 49.0% in the second quarter. Cetera Investment Advisers now owns 26,878 shares of the software maker’s stock valued at $3,845,000 after acquiring an additional 8,836 shares in the last quarter. Finally, Truist Financial Corp boosted its stake in shares of Paycom Software by 43.8% in the second quarter. Truist Financial Corp now owns 93,353 shares of the software maker’s stock worth $13,353,000 after acquiring an additional 28,426 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PAYC shares. Jefferies Financial Group decreased their target price 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. TD Cowen boosted their price objective on shares of Paycom Software from $147.00 to $171.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Finally, Barclays increased their price target on Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Seventeen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $178.33.

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.