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 Paycom Software stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $163.12, for a total transaction of $318,084.00. Following the transaction, the chief executive officer now directly owns 3,534,499 shares of the company’s stock, valued at $576,547,476.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Paycom Software Trading Down 0.0 %

Shares of NYSE:PAYC traded down $0.06 during midday trading on Wednesday, hitting $163.04. The company had a trading volume of 528,449 shares, compared to its average volume of 843,658. The firm has a fifty day simple moving average of $154.08 and a 200 day simple moving average of $170.66. The stock has a market cap of $9.47 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 2.22 and a beta of 1.16. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $299.00.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Monday, August 26th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, August 26th. This represents a $1.50 annualized dividend and a dividend yield of 0.92%. Paycom Software’s payout ratio is currently 18.27%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PAYC shares. Barclays boosted their target price on Paycom Software from $161.00 to $167.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. increased their target price on Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Citigroup reduced their price target 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, StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Seventeen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $178.33.

Institutional Trading of Paycom Software

Hedge funds have recently modified their holdings of the company. ARK & TLK Investments LLC bought a new position in Paycom Software during the fourth quarter worth about $2,260,000. Janney Montgomery Scott LLC grew its position in shares of Paycom Software by 26.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 50,315 shares of the software maker’s stock valued at $10,401,000 after purchasing an additional 10,555 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Paycom Software by 29.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock worth $12,848,000 after purchasing an additional 14,670 shares in the last quarter. Norges Bank acquired a new stake in Paycom Software during the 4th quarter worth approximately $6,670,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Paycom Software by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 302,544 shares of the software maker’s stock valued at $62,542,000 after buying an additional 12,708 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

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.