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 business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.62, for a total value of $324,909.00. Following the completion of the transaction, the chief executive officer now directly owns 2,791,410 shares in the company, valued at approximately $465,104,734.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Paycom Software Trading Down 0.1 %

Shares of NYSE:PAYC traded down $0.17 during trading on Thursday, reaching $166.56. The company had a trading volume of 348,602 shares, compared to its average volume of 836,041. The company has a fifty day moving average of $163.58 and a two-hundred day moving average of $167.34. The stock has a market capitalization of $9.57 billion, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 2.37 and a beta of 1.17. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $279.96.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, July 31st. The software maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. The business had revenue of $437.51 million for the quarter, compared to analysts’ expectations of $436.19 million. As a group, equities research analysts predict that Paycom Software, Inc. will post 6.67 earnings per share for the current 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. 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 0.90%. Paycom Software’s payout ratio is 18.27%.

Institutional Investors Weigh In On Paycom Software

A number of hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new position in Paycom Software in the 4th quarter worth $6,670,000. Steward Partners Investment Advisory LLC lifted its stake in shares of Paycom Software by 651.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,984 shares of the software maker’s stock valued at $617,000 after acquiring an additional 2,587 shares during the last quarter. TD Asset Management Inc boosted its holdings in Paycom Software by 7.9% during the 4th quarter. TD Asset Management Inc now owns 21,322 shares of the software maker’s stock valued at $4,408,000 after acquiring an additional 1,561 shares during the period. Bank of Nova Scotia grew its position in Paycom Software by 100.7% during the 4th quarter. Bank of Nova Scotia now owns 6,379 shares of the software maker’s stock worth $1,319,000 after acquiring an additional 3,201 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in Paycom Software by 18.1% in the 4th quarter. California State Teachers Retirement System now owns 91,782 shares of the software maker’s stock worth $18,973,000 after purchasing an additional 14,037 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PAYC. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. TD Cowen boosted their target price on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Jefferies Financial Group dropped their price objective on Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Finally, Citigroup decreased their target price on Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Seventeen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price 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.