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 stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $180.82, for a total transaction of $352,599.00. Following the completion of the sale, the chief executive officer now directly owns 3,091,958 shares of the company’s stock, valued at approximately $559,087,845.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Paycom Software Stock Performance

PAYC stock opened at $180.65 on Thursday. Paycom Software, Inc. has a fifty-two week low of $146.15 and a fifty-two week high of $374.04. The firm has a market capitalization of $10.50 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 2.82 and a beta of 1.17. The company’s 50 day moving average price is $188.06 and its 200 day moving average price is $188.99.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, May 1st. The software maker reported $4.25 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $2.29. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. The firm had revenue of $499.88 million during the quarter, compared to the consensus estimate of $495.89 million. Equities analysts forecast that Paycom Software, Inc. will post 6.16 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Tuesday, May 28th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, May 24th. Paycom Software’s dividend payout ratio (DPR) is 18.27%.

Analyst Upgrades and Downgrades

PAYC has been the subject of several recent analyst reports. Piper Sandler raised their target price on Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Citigroup cut their price objective on Paycom Software from $196.00 to $193.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday. Barclays dropped their price target on shares of Paycom Software from $193.00 to $184.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Finally, William Blair restated a “market perform” rating on shares of Paycom Software in a report on Thursday, May 2nd. Seventeen analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $246.31.

Hedge Funds Weigh In On Paycom Software

Several large investors have recently bought and sold shares of the stock. Oak Family Advisors LLC purchased a new position in shares of Paycom Software during the fourth quarter worth about $2,994,000. Janney Montgomery Scott LLC raised its stake in shares of Paycom Software by 26.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 50,315 shares of the software maker’s stock worth $10,401,000 after purchasing an additional 10,555 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake 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 last quarter. National Bank of Canada FI lifted its holdings in shares of Paycom Software by 367.8% during the fourth quarter. National Bank of Canada FI now owns 49,541 shares of the software maker’s stock worth $10,136,000 after purchasing an additional 38,951 shares during the period. Finally, Kornitzer Capital Management Inc. KS acquired a new position in Paycom Software in the 4th quarter valued at $6,615,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

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.