Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison Sells 1,950 Shares

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $171.30, for a total transaction of $334,035.00. Following the completion of the sale, the chief executive officer now directly owns 2,805,060 shares in the company, valued at approximately $480,506,778. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Paycom Software Stock Performance

Shares of Paycom Software stock traded up $1.14 during midday trading on Tuesday, hitting $173.72. The company had a trading volume of 525,038 shares, compared to its average volume of 844,591. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $279.96. The stock has a market capitalization of $10.09 billion, a P/E ratio of 21.02, a P/E/G ratio of 2.39 and a beta of 1.17. The company has a 50 day moving average of $162.42 and a 200 day moving average of $168.12.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, July 31st. The software maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.07. The firm had revenue of $437.51 million for the quarter, compared to analysts’ expectations of $436.19 million. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. Equities research analysts forecast that Paycom Software, Inc. will post 6.67 EPS for the current year.

Paycom Software Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.50 dividend on an annualized basis and a yield of 0.86%. Paycom Software’s dividend payout ratio is currently 18.27%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PAYC. Sylebra Capital LLC purchased a new stake in shares of Paycom Software during the first quarter valued at $253,196,000. ValueAct Holdings L.P. bought a new stake in shares of Paycom Software in the fourth quarter worth approximately $125,686,000. Federated Hermes Inc. raised its holdings in shares of Paycom Software by 1,011.2% during the second 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 during the last quarter. Raymond James & Associates lifted its position in Paycom Software by 769.2% during the second quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock valued at $28,803,000 after purchasing an additional 178,198 shares during the period. Finally, Strategic Financial Concepts LLC boosted its holdings in 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 worth $242,000 after purchasing an additional 167,834 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

PAYC has been the topic of several recent analyst reports. Barclays raised their target price on Paycom Software from $161.00 to $167.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Citigroup reduced their target price on Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Finally, TD Cowen raised their target price on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research report on Monday. Seventeen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $179.75.

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.