Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison Sells 1,950 Shares

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $166.62, for a total transaction of $324,909.00. Following the completion of the sale, the chief executive officer now directly owns 2,791,410 shares in the company, valued at $465,104,734.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Paycom Software Stock Down 0.1 %

PAYC traded down $0.17 during trading on Thursday, hitting $166.56. 348,602 shares of the company’s stock were exchanged, compared to its average volume of 836,041. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $279.96. The stock has a market cap of $9.57 billion, a P/E ratio of 20.31, a PEG ratio of 2.37 and a beta of 1.17. The business’s 50 day moving average is $163.58 and its two-hundred day moving average is $167.34.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates 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, sell-side analysts forecast that Paycom Software, Inc. will post 6.67 earnings per share for the current year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 26th were issued a $0.375 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.90%. Paycom Software’s dividend payout ratio is presently 18.27%.

Wall Street Analyst Weigh In

PAYC has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Barclays boosted their price objective on Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. TD Cowen raised their target price on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Citigroup dropped their price target on Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. Finally, StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Seventeen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Paycom Software currently has a consensus rating of “Hold” and a consensus price target of $179.75.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Sylebra Capital LLC bought a new position in Paycom Software during the 1st quarter valued at $253,196,000. ValueAct Holdings L.P. bought a new position in shares of Paycom Software during the fourth quarter valued at about $125,686,000. Federated Hermes Inc. lifted its position in shares of Paycom Software by 1,011.2% during the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock valued at $83,244,000 after purchasing an additional 529,591 shares in the last quarter. Raymond James & Associates boosted its holdings in Paycom Software by 769.2% during the second quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock worth $28,803,000 after purchasing an additional 178,198 shares during the last quarter. Finally, Strategic Financial Concepts LLC grew its position in Paycom Software by 12,268.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 169,202 shares of the software maker’s stock worth $242,000 after purchasing an additional 167,834 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

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.