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 the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $171.30, for a total value of $334,035.00. Following the sale, the chief executive officer now owns 2,805,060 shares in the company, valued at approximately $480,506,778. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $167.46 on Friday. The stock has a 50-day simple moving average of $162.82 and a 200-day simple moving average of $168.07. The stock has a market capitalization of $9.73 billion, a P/E ratio of 20.40, a PEG ratio of 2.44 and a beta of 1.17. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $279.96.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, July 31st. The software maker reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.07. Paycom Software had a net margin of 26.55% and a return on equity of 33.36%. The company had revenue of $437.51 million during the quarter, compared to the consensus estimate of $436.19 million. Analysts predict that Paycom Software, Inc. will post 6.67 earnings per share for the current year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were issued a $0.375 dividend. The ex-dividend date was Monday, August 26th. This represents a $1.50 annualized dividend and a yield of 0.90%. Paycom Software’s dividend payout ratio is currently 18.27%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Paycom Software in the second quarter valued at about $25,000. Mather Group LLC. purchased a new position in Paycom Software in the 1st quarter worth approximately $26,000. MFA Wealth Advisors LLC acquired a new stake in Paycom Software in the second quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Paycom Software during the second quarter valued at approximately $27,000. Finally, Palisade Asset Management LLC purchased a new stake in shares of Paycom Software during the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PAYC shares. TD Cowen increased their price objective on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research note on Monday. Jefferies Financial Group decreased their price target on shares of 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 research report on Thursday, August 1st. Citigroup decreased their target price on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 18th. Finally, 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. Seventeen analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Paycom Software has an average rating of “Hold” and a consensus price target 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.