Insider Selling: Paycom Software, Inc. (NYSE:PAYC) CEO Sells 1,950 Shares of Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $170.27, for a total value of $332,026.50. Following the completion of the sale, the chief executive officer now owns 2,932,058 shares in the company, valued at approximately $499,241,515.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Paycom Software Stock Up 1.1 %

Shares of NYSE PAYC opened at $170.94 on Thursday. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $279.96. The firm has a market cap of $9.93 billion, a P/E ratio of 20.82, a PEG ratio of 2.37 and a beta of 1.17. The company has a 50 day moving average of $161.09 and a 200 day moving average of $168.30.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. The business had revenue of $437.51 million during the quarter, compared to analyst estimates of $436.19 million. Paycom Software had a net margin of 26.55% and a return on equity of 33.36%. As a group, equities analysts expect that Paycom Software, Inc. will post 6.67 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The firm 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. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Monday, August 26th. Paycom Software’s payout ratio is 18.27%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PAYC shares. Jefferies Financial Group lowered their price objective on Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. TD Cowen raised their price target on Paycom Software from $147.00 to $171.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Finally, Citigroup decreased their price objective on Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. Seventeen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $178.33.

Institutional Investors Weigh In On Paycom Software

A number of hedge funds have recently modified their holdings of the business. ARK & TLK Investments LLC bought a new position in Paycom Software in the 4th quarter worth $2,260,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Paycom Software by 29.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock worth $12,848,000 after purchasing an additional 14,670 shares during the period. Janney Montgomery Scott LLC increased its stake in Paycom Software by 17.7% in the first quarter. Janney Montgomery Scott LLC now owns 59,242 shares of the software maker’s stock worth $11,790,000 after purchasing an additional 8,927 shares during the period. Norges Bank purchased a new position in shares of Paycom Software during the fourth quarter valued at $6,670,000. Finally, Sylebra Capital LLC purchased a new position in shares of Paycom Software during the first quarter valued at $253,196,000. 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.