Paycom Software, Inc. (NYSE:PAYC) CEO Sells $441,772.50 in Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $226.55, for a total value of $441,772.50. Following the sale, the chief executive officer now directly owns 2,737,260 shares of the company’s stock, valued at approximately $620,126,253. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Paycom Software Stock Up 0.5 %

Shares of Paycom Software stock opened at $228.89 on Wednesday. The firm has a market cap of $13.20 billion, a PE ratio of 27.54, a P/E/G ratio of 3.05 and a beta of 1.14. The business has a 50-day moving average price of $174.86 and a 200 day moving average price of $164.60. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $233.69.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Monday, November 25th. Paycom Software’s payout ratio is 18.05%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PAYC. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Jefferies Financial Group raised their price target on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Barclays upped their price objective on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Citigroup raised their target price on shares of Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Piper Sandler upped their price target on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $193.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Forsta AP Fonden acquired a new stake in shares of Paycom Software in the first quarter valued at about $2,408,000. Sei Investments Co. boosted its holdings in Paycom Software by 68.4% in the 1st quarter. Sei Investments Co. now owns 165,340 shares of the software maker’s stock worth $32,904,000 after buying an additional 67,163 shares during the last quarter. Headlands Technologies LLC increased its stake in Paycom Software by 107.8% during the 1st quarter. Headlands Technologies LLC now owns 663 shares of the software maker’s stock worth $132,000 after buying an additional 344 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of Paycom Software by 13.3% during the first quarter. QRG Capital Management Inc. now owns 2,225 shares of the software maker’s stock valued at $443,000 after acquiring an additional 261 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Paycom Software by 66.1% in the first quarter. Russell Investments Group Ltd. now owns 53,051 shares of the software maker’s stock valued at $10,552,000 after acquiring an additional 21,108 shares in the last quarter. Hedge funds and other 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.