Paycom Software, Inc. (NYSE:PAYC) CEO Sells $322,276.50 in Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $165.27, for a total transaction of $322,276.50. Following the sale, the chief executive officer now owns 2,766,510 shares in the company, valued at approximately $457,221,107.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Paycom Software Price Performance

Shares of NYSE PAYC opened at $164.39 on Thursday. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $264.70. The business’s 50 day moving average is $164.85 and its two-hundred day moving average is $164.16. The stock has a market capitalization of $9.44 billion, a P/E ratio of 19.81, a PEG ratio of 2.35 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.07. The company had revenue of $437.51 million for the quarter, compared to analyst estimates of $436.19 million. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. As a group, equities research analysts anticipate that Paycom Software, Inc. will post 6.67 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The company 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 annualized dividend and a dividend yield of 0.91%. Paycom Software’s dividend payout ratio (DPR) is presently 18.07%.

Hedge Funds Weigh In On Paycom Software

Several hedge funds have recently added to or reduced their stakes in PAYC. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Paycom Software by 10.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,442 shares of the software maker’s stock valued at $1,417,000 after buying an additional 825 shares during the period. Legacy Wealth Asset Management LLC bought a new stake in shares of Paycom Software during the 3rd quarter worth approximately $370,000. Court Place Advisors LLC boosted its holdings in Paycom Software by 27.2% during the 3rd quarter. Court Place Advisors LLC now owns 4,280 shares of the software maker’s stock valued at $713,000 after acquiring an additional 915 shares during the period. Tectonic Advisors LLC bought a new position in Paycom Software in the 3rd quarter valued at $298,000. Finally, Assenagon Asset Management S.A. purchased a new stake in Paycom Software in the third quarter worth $203,000. 87.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PAYC has been the subject of a number of analyst reports. TD Cowen increased their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Barclays raised their price target on Paycom Software from $167.00 to $172.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Finally, Jefferies Financial Group lifted their target price on Paycom Software from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Tuesday. Seventeen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Paycom Software currently has a consensus rating of “Hold” and a consensus target price of $182.25.

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.