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 the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $162.17, for a total transaction of $316,231.50. Following the transaction, the chief executive officer now owns 2,780,160 shares of the company’s stock, valued at approximately $450,858,547.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Paycom Software Price Performance

Paycom Software stock traded up $0.32 during midday trading on Thursday, reaching $163.92. The company’s stock had a trading volume of 536,141 shares, compared to its average volume of 827,323. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $278.27. The stock has a market capitalization of $9.53 billion, a P/E ratio of 19.97, a PEG ratio of 2.36 and a beta of 1.17. The stock’s 50-day simple moving average is $163.47 and its 200-day simple moving average is $166.37.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, July 31st. The software maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. Paycom Software had a net margin of 26.55% and a return on equity of 33.36%. The firm had revenue of $437.51 million for the quarter, compared to analyst estimates of $436.19 million. As a group, equities research analysts expect that Paycom Software, Inc. will post 6.67 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

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

Hedge Funds Weigh In On Paycom Software

Large investors have recently made changes to their positions in the company. ARK & TLK Investments LLC acquired a new stake in Paycom Software in the 4th quarter worth about $2,260,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Paycom Software by 29.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock valued at $12,848,000 after purchasing an additional 14,670 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Paycom Software by 17.7% during the first quarter. Janney Montgomery Scott LLC now owns 59,242 shares of the software maker’s stock worth $11,790,000 after buying an additional 8,927 shares in the last quarter. Sylebra Capital LLC purchased a new stake in Paycom Software in the 1st quarter valued at $253,196,000. Finally, Profund Advisors LLC acquired a new stake in shares of Paycom Software in the 2nd quarter worth $589,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PAYC has been the subject of a number of analyst reports. Barclays increased their price target on shares of Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. TD Cowen increased their target price on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. 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 note on Tuesday, June 18th. Jefferies Financial Group lowered their price objective on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Finally, StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Seventeen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $179.75.

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.