Paycom Software, Inc. (NYSE:PAYC) CEO Sells $326,371.50 in Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Monday, October 28th. The stock was sold at an average price of $167.37, for a total value of $326,371.50. Following the sale, the chief executive officer now owns 2,754,810 shares in the company, valued at $461,072,549.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Paycom Software Stock Performance

NYSE:PAYC opened at $209.03 on Friday. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $247.42. The business’s fifty day moving average is $166.62 and its 200 day moving average is $163.23. The firm has a market cap of $12.00 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 2.34 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.07. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. The firm had revenue of $437.51 million for the quarter, compared to analysts’ expectations of $436.19 million. Equities analysts predict that Paycom Software, Inc. will post 6.64 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is presently 18.07%.

Institutional Trading of Paycom Software

Several institutional investors and hedge funds have recently bought and sold shares of PAYC. Confluence Investment Management LLC grew its position in shares of Paycom Software by 147.3% during the 3rd quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock valued at $62,943,000 after purchasing an additional 225,081 shares in the last quarter. Portside Wealth Group LLC boosted its stake in Paycom Software by 70.7% during the third quarter. Portside Wealth Group LLC now owns 11,527 shares of the software maker’s stock valued at $1,920,000 after buying an additional 4,773 shares during the period. Keudell Morrison Wealth Management grew its position in Paycom Software by 13.3% during the third quarter. Keudell Morrison Wealth Management now owns 1,939 shares of the software maker’s stock worth $323,000 after buying an additional 227 shares in the last quarter. Principal Financial Group Inc. increased its stake in Paycom Software by 9.3% in the 3rd quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock worth $10,962,000 after acquiring an additional 5,574 shares during the last quarter. Finally, Marks Group Wealth Management Inc raised its holdings in shares of Paycom Software by 168.3% in the 3rd quarter. Marks Group Wealth Management Inc now owns 35,124 shares of the software maker’s stock valued at $5,851,000 after acquiring an additional 22,035 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. BMO Capital Markets lifted their target price on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research note on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Piper Sandler increased their target price on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday. TD Cowen raised their price target on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Finally, Citigroup upped their price objective on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday. Seventeen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Paycom Software currently has a consensus rating of “Hold” and an average target price of $186.92.

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.