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 company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $170.19, for a total value of $331,870.50. Following the completion of the transaction, the chief executive officer now directly owns 2,810,910 shares of the company’s stock, valued at approximately $478,388,772.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Paycom Software Stock Performance

Shares of PAYC stock traded up $1.97 during trading hours on Thursday, hitting $172.91. 609,516 shares of the company were exchanged, compared to its average volume of 845,395. The company has a 50 day simple moving average of $161.09 and a two-hundred day simple moving average of $168.30. The firm has a market cap of $10.05 billion, a P/E ratio of 20.82, a P/E/G ratio of 2.37 and a beta of 1.17. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $279.96.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share (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 for the quarter, compared to analyst estimates of $436.19 million. As a group, sell-side analysts expect that Paycom Software, Inc. will post 6.67 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Monday, August 26th. Paycom Software’s payout ratio is 18.27%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PAYC. Sylebra Capital LLC bought a new stake in shares of Paycom Software during the first quarter valued at approximately $253,196,000. ValueAct Holdings L.P. acquired a new stake in Paycom Software in the 4th quarter valued at $125,686,000. Federated Hermes Inc. increased its stake in Paycom Software by 1,011.2% during the 2nd 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 raised its holdings in Paycom Software by 769.2% during the second quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock worth $28,803,000 after buying an additional 178,198 shares during the last quarter. Finally, Strategic Financial Concepts LLC lifted its stake in shares of Paycom Software by 12,268.6% in the second quarter. Strategic Financial Concepts LLC now owns 169,202 shares of the software maker’s stock valued at $242,000 after buying an additional 167,834 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

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.