Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison Sells 1,950 Shares

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $167.31, for a total value of $326,254.50. Following the completion of the sale, the chief executive officer now directly owns 2,935,958 shares in the company, valued at approximately $491,215,132.98. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Paycom Software Stock Performance

Shares of PAYC stock opened at $169.38 on Friday. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $283.00. The business’s fifty day moving average is $159.32 and its 200-day moving average is $168.70. The stock has a market cap of $9.73 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 2.38 and a beta of 1.17.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.89%. The ex-dividend date was Monday, August 26th. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

Institutional Investors Weigh In On Paycom Software

A number of institutional investors and hedge funds have recently bought and sold shares of the business. ARK & TLK Investments LLC acquired a new stake in Paycom Software during the fourth quarter valued at approximately $2,260,000. Janney Montgomery Scott LLC lifted its position in shares of Paycom Software by 26.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 50,315 shares of the software maker’s stock valued at $10,401,000 after acquiring an additional 10,555 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of 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 acquiring an additional 14,670 shares in the last quarter. Norges Bank acquired a new position in shares of Paycom Software in the 4th quarter worth $6,670,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Paycom Software by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 302,544 shares of the software maker’s stock worth $62,542,000 after purchasing an additional 12,708 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PAYC. Barclays raised their target price on Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. TD Cowen boosted their target price on shares of Paycom Software from $147.00 to $171.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Citigroup cut their price target on Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Seventeen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Paycom Software has a consensus rating of “Hold” and an average target price of $178.33.

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.