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 stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $168.27, for a total value of $328,126.50. Following the completion of the transaction, the chief executive officer now directly owns 2,797,260 shares in the company, valued at approximately $470,694,940.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Paycom Software Stock Performance

PAYC stock traded down $1.23 during midday trading on Monday, reaching $166.57. The stock had a trading volume of 498,983 shares, compared to its average volume of 843,004. The firm has a fifty day simple moving average of $163.26 and a two-hundred day simple moving average of $167.67. The stock has a market cap of $9.57 billion, a PE ratio of 20.38, a P/E/G ratio of 2.46 and a beta of 1.17. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $279.96.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data 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 return on equity of 33.36% and a net margin of 26.55%. On average, sell-side analysts predict that Paycom Software, Inc. will post 6.67 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business 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 was Monday, August 26th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.90%. Paycom Software’s payout ratio is currently 18.27%.

Hedge Funds Weigh In On Paycom Software

A number of institutional investors have recently modified their holdings of PAYC. Vanguard Group Inc. grew its position in shares of Paycom Software by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 5,936,910 shares of the software maker’s stock valued at $1,227,278,000 after acquiring an additional 137,583 shares during the period. Sylebra Capital LLC grew its position in shares of Paycom Software by 53.9% during the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock valued at $279,996,000 after acquiring an additional 685,190 shares during the period. Brown Capital Management LLC grew its position in shares of Paycom Software by 10.1% during the 4th quarter. Brown Capital Management LLC now owns 1,106,045 shares of the software maker’s stock valued at $228,642,000 after acquiring an additional 101,744 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of Paycom Software by 9.4% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker’s stock valued at $152,925,000 after acquiring an additional 92,049 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Paycom Software by 14.5% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 626,646 shares of the software maker’s stock valued at $124,709,000 after acquiring an additional 79,299 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

PAYC has been the topic of several research analyst reports. TD Cowen increased their price objective on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Barclays increased their target price on Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Jefferies Financial Group dropped their target price 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. Finally, StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Seventeen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $179.75.

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.