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

Paycom Software Price Performance

Shares of Paycom Software stock opened at $141.74 on Friday. The firm’s fifty day simple moving average is $164.20 and its 200-day simple moving average is $183.85. The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 2.14 and a beta of 1.17. Paycom Software, Inc. has a 12 month low of $139.69 and a 12 month high of $374.04.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, May 1st. The software maker reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 26.91% and a return on equity of 32.84%. Analysts anticipate that Paycom Software, Inc. will post 6.37 earnings per share for the current year.

Paycom Software Announces Dividend

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

Institutional Investors Weigh In On Paycom Software

Several institutional investors have recently made changes to their positions in PAYC. Oak Family Advisors LLC purchased a new stake in shares of Paycom Software in the 4th quarter worth about $2,994,000. ARK & TLK Investments LLC purchased a new stake in shares of Paycom Software in the 4th quarter worth about $2,260,000. Janney Montgomery Scott LLC boosted its position 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 stake in shares of Paycom Software in the 4th quarter worth about $6,670,000. Finally, Charles Schwab Investment Management Inc. boosted its position 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 hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Barclays lowered their target price on shares of Paycom Software from $193.00 to $184.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research note on Thursday, May 2nd. Jefferies Financial Group lowered their target price on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a research note on Monday. Finally, William Blair reaffirmed a “market perform” rating on shares of Paycom Software in a research note on Thursday, May 2nd. 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, Paycom Software currently has a consensus rating of “Hold” and an average 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.