Insider Selling: Paycom Software, Inc. (NYSE:PAYC) CEO Sells 1,950 Shares of Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.62, for a total transaction of $324,909.00. Following the transaction, the chief executive officer now directly owns 2,791,410 shares in the company, valued at $465,104,734.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Paycom Software Stock Down 0.1 %

Shares of Paycom Software stock opened at $166.56 on Friday. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $279.96. The company has a 50 day moving average of $163.65 and a 200 day moving average of $167.34. The company has a market capitalization of $9.57 billion, a P/E ratio of 20.29, a P/E/G ratio of 2.37 and a beta of 1.17.

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

Paycom Software Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Monday, August 26th. Paycom Software’s dividend payout ratio is presently 18.27%.

Hedge Funds Weigh In On Paycom Software

Several institutional investors have recently bought and sold shares of PAYC. Ashton Thomas Private Wealth LLC acquired a new stake in Paycom Software in the second quarter valued at $25,000. Mather Group LLC. acquired a new position in Paycom Software in the 1st quarter valued at about $26,000. MFA Wealth Advisors LLC purchased a new position in Paycom Software in the 2nd quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Paycom Software during the second quarter worth about $27,000. Finally, Palisade Asset Management LLC purchased a new position in shares of Paycom Software during the first quarter valued at approximately $32,000. 87.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PAYC shares. Jefferies Financial Group reduced their target price on Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. TD Cowen increased their target price 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. Barclays increased their price objective on shares of Paycom Software from $161.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Finally, StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Seventeen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $179.75.

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.