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 Paycom Software stock in a transaction on Friday, October 25th. The shares were sold at an average price of $164.97, for a total value of $321,691.50. Following the sale, the chief executive officer now directly owns 2,756,760 shares of the company’s stock, valued at $454,782,697.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Paycom Software Price Performance

PAYC opened at $167.52 on Wednesday. The stock’s 50 day simple moving average is $165.23 and its 200 day simple moving average is $163.06. The firm has a market cap of $9.62 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 2.34 and a beta of 1.17. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $247.42.

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 firm had revenue of $437.51 million for the quarter, compared to analysts’ expectations of $436.19 million. As a group, sell-side analysts anticipate that Paycom Software, Inc. will post 6.64 EPS for the current year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s payout ratio is 18.07%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PAYC shares. Barclays lifted their price target on Paycom Software from $167.00 to $172.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Jefferies Financial Group increased their price target on shares of Paycom Software from $155.00 to $170.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. TD Cowen lifted their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Seventeen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $182.25.

Hedge Funds Weigh In On Paycom Software

Hedge funds and other institutional investors have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new position in Paycom Software during the 2nd quarter valued at approximately $25,000. MFA Wealth Advisors LLC bought a new position in shares of Paycom Software during the second quarter valued at approximately $26,000. Armstrong Advisory Group Inc. bought a new position in shares of Paycom Software during the third quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Paycom Software in the second quarter worth $27,000. Finally, Palisade Asset Management LLC bought a new stake in Paycom Software in the first quarter valued at $32,000. 87.77% of the stock is owned by institutional investors.

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.