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 Wednesday, November 6th. The shares were sold at an average price of $216.60, for a total value of $422,370.00. Following the completion of the sale, the chief executive officer now directly owns 2,743,110 shares of the company’s stock, valued at $594,157,626. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Paycom Software Stock Performance

Shares of PAYC opened at $231.09 on Thursday. The stock’s 50-day simple moving average is $170.97 and its 200 day simple moving average is $163.91. The stock has a market capitalization of $13.32 billion, a price-to-earnings ratio of 27.81, a price-to-earnings-growth ratio of 2.92 and a beta of 1.14. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $233.69.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.65%. Paycom Software’s dividend payout ratio is currently 18.05%.

Analysts Set New Price Targets

PAYC has been the subject of several research reports. Mizuho lifted their price target on shares of Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday. Barclays boosted their target price on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. BMO Capital Markets increased their target price on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group upped their price objective on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Twelve 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 MarketBeat, Paycom Software has an average rating of “Hold” and a consensus target price of $193.67.

Institutional Investors Weigh In On Paycom Software

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its position in shares of Paycom Software by 51.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker’s stock valued at $444,000 after purchasing an additional 905 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Paycom Software by 29.4% during 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 period. Sylebra Capital LLC purchased a new stake in Paycom Software during the 1st quarter valued at $253,196,000. Profund Advisors LLC purchased a new stake in shares of Paycom Software during the second quarter worth about $589,000. Finally, BOKF NA lifted its holdings in Paycom Software by 453.0% in the 1st quarter. BOKF NA now owns 9,219 shares of the software maker’s stock worth $1,828,000 after buying an additional 7,552 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

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.