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 firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $165.27, for a total value of $322,276.50. Following the transaction, the chief executive officer now directly owns 2,766,510 shares in the company, valued at approximately $457,221,107.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Paycom Software Price Performance

Paycom Software stock opened at $167.82 on Tuesday. The stock’s 50 day moving average price is $164.48 and its 200 day moving average price is $164.38. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $264.70. The company has a market cap of $9.75 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 2.33 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, July 31st. The software maker reported $1.20 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 company had revenue of $437.51 million for the quarter, compared to analyst estimates of $436.19 million. On average, equities research analysts anticipate that Paycom Software, Inc. will post 6.67 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.50 annualized dividend and a yield of 0.89%. Paycom Software’s payout ratio is currently 18.27%.

Wall Street Analysts Forecast Growth

PAYC has been the subject of a number of research analyst reports. TD Cowen upped their target price on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Barclays increased their price target on shares of Paycom Software from $167.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. Finally, Jefferies Financial Group dropped their price objective on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Seventeen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $180.17.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PAYC. Sylebra Capital LLC grew its holdings in shares of Paycom Software by 53.9% in the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock worth $279,996,000 after acquiring an additional 685,190 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in Paycom Software by 9.4% in the second 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 purchasing an additional 92,049 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Paycom Software by 14.5% in the first 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 buying an additional 79,299 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Paycom Software by 1,011.2% during the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock worth $83,244,000 after buying an additional 529,591 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Paycom Software by 6.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 455,271 shares of the software maker’s stock worth $65,122,000 after buying an additional 26,934 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

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.