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 Paycom Software stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $170.19, for a total value of $331,870.50. Following the completion of the transaction, the chief executive officer now owns 2,810,910 shares in the company, valued at approximately $478,388,772.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Paycom Software Stock Up 1.2 %

Shares of PAYC stock opened at $172.91 on Friday. The business’s fifty day moving average is $161.66 and its 200 day moving average is $168.34. The stock has a market cap of $10.05 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 2.37 and a beta of 1.17. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $279.96.

Paycom Software (NYSE:PAYC) last released 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. The firm had revenue of $437.51 million for the quarter, compared to the consensus estimate of $436.19 million. Paycom Software had a net margin of 26.55% and a return on equity of 33.36%. Equities research analysts expect that Paycom Software, Inc. will post 6.67 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Monday, August 26th. Paycom Software’s dividend payout ratio is 18.27%.

Analyst Ratings Changes

A number of equities analysts have commented on PAYC shares. Jefferies Financial Group decreased their price target on Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Citigroup lowered their price objective on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. Barclays boosted their price target on Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Finally, TD Cowen increased their price objective on Paycom Software from $147.00 to $171.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Seventeen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $178.33.

Hedge Funds Weigh In On Paycom Software

Large investors have recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new position in Paycom Software during the 2nd quarter valued at approximately $856,000. KPP Advisory Services LLC increased its holdings in shares of Paycom Software by 31.5% during the second quarter. KPP Advisory Services LLC now owns 3,482 shares of the software maker’s stock valued at $498,000 after acquiring an additional 834 shares in the last quarter. Aurora Investment Counsel raised its position in shares of Paycom Software by 7.0% in the 2nd quarter. Aurora Investment Counsel now owns 13,209 shares of the software maker’s stock worth $1,889,000 after purchasing an additional 865 shares during the last quarter. Cetera Investment Advisers boosted its stake in Paycom Software by 49.0% in the 2nd quarter. Cetera Investment Advisers now owns 26,878 shares of the software maker’s stock worth $3,845,000 after purchasing an additional 8,836 shares in the last quarter. Finally, Truist Financial Corp grew its position in Paycom Software by 43.8% during the 2nd quarter. Truist Financial Corp now owns 93,353 shares of the software maker’s stock valued at $13,353,000 after purchasing an additional 28,426 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other 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.