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 firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $142.43, for a total transaction of $277,738.50. Following the completion of the sale, the chief executive officer now owns 3,035,408 shares in the company, valued at approximately $432,333,161.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Paycom Software Price Performance

Shares of PAYC stock opened at $142.95 on Thursday. The company has a market capitalization of $8.31 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 2.16 and a beta of 1.16. The company’s fifty day moving average price is $160.70 and its 200-day moving average price is $182.25. Paycom Software, Inc. has a one year low of $139.69 and a one year high of $374.04.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, May 1st. The software maker reported $4.25 earnings per share (EPS) 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 the consensus estimate of $495.89 million. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. Equities research analysts expect that Paycom Software, Inc. will post 6.37 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th were issued 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 yield of 1.05%. Paycom Software’s dividend payout ratio is currently 18.27%.

Institutional Trading of Paycom Software

Institutional investors and hedge funds have recently bought and sold shares of the stock. Oak Family Advisors LLC bought a new stake in Paycom Software in the 4th quarter valued at $2,994,000. ARK & TLK Investments LLC purchased a new position in shares of Paycom Software in the 4th quarter worth $2,260,000. Janney Montgomery Scott LLC grew its stake in shares of Paycom Software by 26.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 50,315 shares of the software maker’s stock worth $10,401,000 after buying an additional 10,555 shares in the last quarter. Norges Bank purchased a new position in shares of Paycom Software in the 4th quarter worth $6,670,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Paycom Software by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 302,544 shares of the software maker’s stock worth $62,542,000 after buying an additional 12,708 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Barclays dropped their target price on shares of Paycom Software from $193.00 to $184.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Jefferies Financial Group decreased their price target on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research report on Thursday, May 2nd. StockNews.com upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a research report on Tuesday, May 28th. Finally, Mizuho decreased their price target on shares of Paycom Software from $185.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Sixteen analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $237.81.

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.