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 Wednesday, November 6th. The stock was sold at an average price of $216.60, for a total transaction of $422,370.00. Following the sale, the chief executive officer now directly owns 2,743,110 shares in the company, valued at approximately $594,157,626. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Paycom Software Price Performance

PAYC stock opened at $227.19 on Friday. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $233.69. The firm has a market capitalization of $13.10 billion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 2.92 and a beta of 1.14. The business has a 50 day simple moving average of $172.24 and a 200-day simple moving average of $164.35.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Armstrong Advisory Group Inc. purchased a new position in Paycom Software during the third quarter worth about $26,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Paycom Software during the 2nd quarter valued at approximately $25,000. MFA Wealth Advisors LLC acquired a new position in Paycom Software in the second quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Paycom Software in the second quarter worth approximately $27,000. Finally, Sentry Investment Management LLC acquired a new stake in Paycom Software during the second quarter worth $33,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Piper Sandler increased their price target on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Citigroup lifted their price target on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Mizuho upped their price objective on shares of Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Finally, Barclays upped their price target on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $193.67.

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.