Paycom Software (NYSE:PAYC) Sees Unusually-High Trading Volume

Paycom Software, Inc. (NYSE:PAYC) shares saw unusually-strong trading volume on Monday . Approximately 2,335,578 shares changed hands during mid-day trading, an increase of 170% from the previous session’s volume of 864,023 shares.The stock last traded at $162.36 and had previously closed at $164.31.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PAYC. William Blair restated a “market perform” rating on shares of Paycom Software in a report on Thursday, May 2nd. Barclays increased their target price on Paycom Software from $161.00 to $167.00 and gave the stock an “equal weight” rating in a research note on Thursday. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Mizuho dropped their target price on Paycom Software from $185.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday. Seventeen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $178.33.

Paycom Software Stock Performance

The firm has a 50 day simple moving average of $150.75 and a two-hundred day simple moving average of $174.93. The firm has a market capitalization of $9.18 billion, a P/E ratio of 20.01, a PEG ratio of 2.71 and a beta of 1.16.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Monday, August 26th will be given a $0.375 dividend. The ex-dividend date of this dividend is Monday, August 26th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.95%. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

Insiders Place Their Bets

In related news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $167.97, for a total transaction of $327,541.50. Following the completion of the transaction, the chief executive officer now owns 2,994,458 shares in the company, valued at $502,979,110.26. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Amy Vickroy sold 1,381 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $143.39, for a total value of $198,021.59. Following the completion of the sale, the executive vice president now directly owns 19,962 shares of the company’s stock, valued at approximately $2,862,351.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $167.97, for a total transaction of $327,541.50. Following the completion of the sale, the chief executive officer now owns 2,994,458 shares in the company, valued at $502,979,110.26. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,887 shares of company stock valued at $8,722,999. 14.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Paycom Software

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mather Group LLC. acquired a new position in Paycom Software during the 1st quarter valued at about $26,000. Hexagon Capital Partners LLC raised its position in shares of Paycom Software by 333.3% during the 4th quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Palisade Asset Management LLC acquired a new stake in Paycom Software during the 1st quarter worth $32,000. MFA Wealth Advisors LLC acquired a new stake in shares of Paycom Software in the second quarter valued at approximately $26,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Paycom Software during the second quarter worth about $27,000. Institutional investors own 87.77% of the company’s stock.

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.