Insider Selling: 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 the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $226.55, for a total value of $441,772.50. Following the completion of the transaction, the chief executive officer now directly owns 2,737,260 shares in the company, valued at approximately $620,126,253. This represents a 0.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Paycom Software Price Performance

Paycom Software stock opened at $224.62 on Friday. The stock’s fifty day moving average price is $177.57 and its two-hundred day moving average price is $165.32. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $233.69. The firm has a market cap of $12.95 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 3.05 and a beta of 1.14.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be paid a $0.375 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.67%. Paycom Software’s payout ratio is 18.05%.

Hedge Funds Weigh In On Paycom Software

Several hedge funds and other institutional investors have recently modified their holdings of the business. Sylebra Capital LLC increased its stake in shares of Paycom Software by 53.9% in the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock valued at $279,996,000 after purchasing an additional 685,190 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of Paycom Software by 9.4% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker’s stock valued at $152,925,000 after purchasing an additional 92,049 shares during the last quarter. FMR LLC increased its stake in shares of Paycom Software by 55.0% in the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock valued at $167,889,000 after purchasing an additional 357,723 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Paycom Software by 1.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker’s stock valued at $104,524,000 after acquiring an additional 6,488 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of Paycom Software by 1,011.2% during the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock valued at $83,244,000 after acquiring an additional 529,591 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PAYC. Jefferies Financial Group upped their price target on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Piper Sandler upped their price target on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Barclays upped their price target on Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Mizuho upped their price target on Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Twelve 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.com, Paycom Software currently has a consensus rating of “Hold” and an average price target of $193.67.

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.