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 company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $167.37, for a total transaction of $326,371.50. Following the completion of the transaction, the chief executive officer now owns 2,754,810 shares in the company, valued at approximately $461,072,549.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Paycom Software Stock Up 0.1 %

Shares of PAYC stock opened at $167.52 on Wednesday. The stock has a fifty day moving average of $165.23 and a 200 day moving average of $163.06. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $247.42. The firm has a market capitalization of $9.62 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 2.34 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 analysts’ consensus estimates of $1.13 by $0.07. The company had revenue of $437.51 million during 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%. Equities research analysts anticipate that Paycom Software, Inc. will post 6.64 earnings per share for the current year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.90%. The ex-dividend date is Monday, November 25th. Paycom Software’s dividend payout ratio is currently 18.07%.

Hedge Funds Weigh In On Paycom Software

Several institutional investors and hedge funds have recently added to or reduced their stakes in PAYC. Wealthcare Advisory Partners LLC purchased a new position in Paycom Software during the first quarter valued at $212,000. SteelPeak Wealth LLC purchased a new position in Paycom Software during the first quarter valued at $203,000. Allspring Global Investments Holdings LLC lifted its position in Paycom Software by 3.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 6,544 shares of the software maker’s stock valued at $1,302,000 after buying an additional 217 shares during the period. Lifestyle Asset Management Inc. purchased a new position in Paycom Software during the first quarter valued at $241,000. Finally, Meadow Creek Wealth Advisors LLC purchased a new position in Paycom Software during the first quarter valued at $1,537,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PAYC. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Barclays increased their price target on shares of Paycom Software from $167.00 to $172.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. Jefferies Financial Group increased their price target on shares of Paycom Software from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Finally, TD Cowen raised their target price on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Seventeen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Paycom Software currently has a consensus rating of “Hold” and a consensus price target of $182.25.

Paycom Software Company Profile

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.