Insider Selling: Paycom Software, Inc. (NYSE:PAYC) CEO Sells 1,950 Shares of Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $144.18, for a total transaction of $281,151.00. Following the sale, the chief executive officer now directly owns 3,049,058 shares of the company’s stock, valued at $439,613,182.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Paycom Software Stock Performance

Shares of PAYC opened at $147.50 on Monday. The firm has a market cap of $8.57 billion, a PE ratio of 17.95, a PEG ratio of 2.25 and a beta of 1.17. The firm’s 50 day moving average price is $167.91 and its 200 day moving average price is $185.05. Paycom Software, Inc. has a twelve month low of $140.12 and a twelve month high of $374.04.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, May 1st. The software maker reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $2.29. The business had revenue of $499.88 million for the quarter, compared to the consensus estimate of $495.89 million. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. On average, sell-side analysts anticipate that Paycom Software, Inc. will post 6.26 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th were given a $0.375 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.02%. Paycom Software’s dividend payout ratio is currently 18.27%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. HBK Sorce Advisory LLC lifted its holdings in Paycom Software by 5.9% in the 4th quarter. HBK Sorce Advisory LLC now owns 986 shares of the software maker’s stock worth $204,000 after purchasing an additional 55 shares during the last quarter. Empirical Finance LLC raised its position in shares of Paycom Software by 3.9% in the first quarter. Empirical Finance LLC now owns 1,580 shares of the software maker’s stock valued at $314,000 after purchasing an additional 60 shares during the period. Optas LLC lifted its stake in shares of Paycom Software by 6.1% in the first quarter. Optas LLC now owns 1,059 shares of the software maker’s stock worth $211,000 after buying an additional 61 shares during the last quarter. Bouvel Investment Partners LLC boosted its holdings in shares of Paycom Software by 1.0% during the 4th quarter. Bouvel Investment Partners LLC now owns 6,431 shares of the software maker’s stock worth $1,329,000 after buying an additional 63 shares during the period. Finally, Wahed Invest LLC boosted its holdings in shares of Paycom Software by 7.9% during the 4th quarter. Wahed Invest LLC now owns 877 shares of the software maker’s stock worth $181,000 after buying an additional 64 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PAYC shares. JPMorgan Chase & Co. boosted their price target on shares of Paycom Software from $165.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Mizuho cut their target price on shares of Paycom Software from $185.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. 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. William Blair reissued a “market perform” rating on shares of Paycom Software in a research report on Thursday, May 2nd. Finally, TD Cowen reduced their price objective on Paycom Software from $170.00 to $147.00 and set a “hold” rating for the company in a research note on Thursday. Sixteen analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Paycom Software currently has an average rating of “Hold” and an average target price of $240.94.

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.