Chad R. Richison Sells 1,950 Shares of Paycom Software, Inc. (NYSE:PAYC) Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $170.85, for a total transaction of $333,157.50. Following the transaction, the chief executive officer now directly owns 2,807,010 shares of the company’s stock, valued at approximately $479,577,658.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Paycom Software Stock Up 0.7 %

PAYC opened at $173.72 on Wednesday. The business has a fifty day moving average of $162.68 and a 200 day moving average of $168.07. The stock has a market cap of $10.09 billion, a P/E ratio of 21.16, a PEG ratio of 2.39 and a beta of 1.17. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $279.96.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. The firm had revenue of $437.51 million during 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%. Equities analysts anticipate that Paycom Software, Inc. will post 6.67 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 26th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Monday, August 26th. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

Institutional Trading of Paycom Software

A number of large investors have recently modified their holdings of PAYC. Sylebra Capital LLC purchased a new position in Paycom Software during the 1st quarter valued at about $253,196,000. ValueAct Holdings L.P. bought a new position in Paycom Software in the fourth quarter worth approximately $125,686,000. Federated Hermes Inc. lifted its holdings in Paycom Software by 1,011.2% during the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock worth $83,244,000 after buying an additional 529,591 shares during the period. Raymond James & Associates increased its holdings in shares of Paycom Software by 769.2% in the 2nd quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock valued at $28,803,000 after acquiring an additional 178,198 shares during the period. Finally, Strategic Financial Concepts LLC lifted its stake in shares of Paycom Software by 12,268.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 169,202 shares of the software maker’s stock worth $242,000 after purchasing an additional 167,834 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analysts Set New Price Targets

PAYC has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Citigroup lowered their target price on Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Jefferies Financial Group lowered their price objective on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Finally, TD Cowen boosted 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. Seventeen investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $179.75.

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.