Paycom Software (NYSE:PAYC) Sets New 52-Week Low After Insider Selling

Paycom Software, Inc. (NYSE:PAYC)’s share price hit a new 52-week low during trading on Wednesday after an insider sold shares in the company. The company traded as low as $140.11 and last traded at $140.11, with a volume of 144740 shares. The stock had previously closed at $141.54.

Specifically, EVP Amy Vickroy sold 1,381 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $143.39, for a total value of $198,021.59. Following the sale, the executive vice president now directly owns 19,962 shares of the company’s stock, valued at approximately $2,862,351.18. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $180.82, for a total transaction of $352,599.00. Following the completion of the sale, the chief executive officer now owns 3,091,958 shares in the company, valued at approximately $559,087,845.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Amy Vickroy sold 1,381 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $143.39, for a total transaction of $198,021.59. Following the completion of the transaction, the executive vice president now directly owns 19,962 shares of the company’s stock, valued at approximately $2,862,351.18. The disclosure for this sale can be found here. Insiders have sold 25,687 shares of company stock valued at $3,995,263 in the last quarter. 14.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on PAYC shares. JPMorgan Chase & Co. raised their price target on Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Barclays lowered their price target on Paycom Software from $193.00 to $184.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. TD Cowen lowered their price target on Paycom Software from $170.00 to $147.00 and set a “hold” rating for the company in a report on Thursday, June 20th. Citigroup lowered their target price on Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. Finally, BMO Capital Markets decreased their price target on Paycom Software from $200.00 to $190.00 and set a “market perform” rating for the company in a research note on Thursday, May 2nd. Sixteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $237.81.

Paycom Software Price Performance

The stock has a fifty day moving average price of $165.07 and a two-hundred day moving average price of $184.15. The company has a market cap of $8.19 billion, a P/E ratio of 17.17, a PEG ratio of 2.15 and a beta of 1.17.

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 company had revenue of $499.88 million for the quarter, compared to analysts’ expectations of $495.89 million. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. As a group, analysts forecast that Paycom Software, Inc. will post 6.37 earnings per share for the current year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Tuesday, May 28th were issued a dividend of $0.375 per share. The ex-dividend date was Friday, May 24th. This represents a $1.50 annualized dividend and a yield of 1.06%. Paycom Software’s payout ratio is 18.27%.

Institutional Investors Weigh In On Paycom Software

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new position in Paycom Software in the first quarter worth approximately $26,000. Hexagon Capital Partners LLC lifted its stake in shares of Paycom Software by 333.3% in the 4th quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its stake in shares of Paycom Software by 83.5% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock valued at $40,000 after purchasing an additional 71 shares during the last quarter. Palisade Asset Management LLC acquired a new stake in shares of Paycom Software in the 1st quarter valued at $32,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Paycom Software in the 4th quarter valued at $41,000. Institutional investors own 87.77% of the company’s stock.

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.