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 company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $140.46, for a total value of $273,897.00. Following the completion of the transaction, the chief executive officer now directly owns 3,041,258 shares in the company, valued at approximately $427,175,098.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Paycom Software Stock Performance

Shares of PAYC opened at $143.04 on Friday. Paycom Software, Inc. has a 52 week low of $139.69 and a 52 week high of $374.04. The stock has a market capitalization of $8.31 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 2.14 and a beta of 1.17. The stock has a fifty day moving average of $163.40 and a 200-day moving average of $183.53.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, May 1st. The software maker reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $2.29. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. The company had revenue of $499.88 million during the quarter, compared to analysts’ expectations of $495.89 million. As a group, equities analysts forecast that Paycom Software, Inc. will post 6.37 EPS for the current year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Friday, May 24th. Paycom Software’s payout ratio is 18.27%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PAYC. Barclays decreased their target price on Paycom Software from $193.00 to $184.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, May 2nd. Citigroup decreased their target price on Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 18th. BMO Capital Markets reduced their price target on Paycom Software from $200.00 to $190.00 and set a “market perform” rating on the stock in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. increased their price target on Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Sixteen analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $237.81.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Mather Group LLC. bought a new position in Paycom Software during the 1st quarter worth $26,000. Hexagon Capital Partners LLC raised its position in Paycom Software by 333.3% during the 4th quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Palisade Asset Management LLC bought a new position in Paycom Software during the 1st quarter worth $32,000. Cary Street Partners Investment Advisory LLC raised its position in Paycom Software by 83.5% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock worth $40,000 after purchasing an additional 71 shares during the last quarter. Finally, Transcendent Capital Group LLC bought a new position in Paycom Software during the 4th quarter worth $41,000. 87.77% of the stock is currently 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.