Paycom Software (NYSE:PAYC) Reaches New 12-Month Low After Insider Selling

Shares of Paycom Software, Inc. (NYSE:PAYCGet Free Report) hit a new 52-week low during trading on Tuesday following insider selling activity. The stock traded as low as $139.50 and last traded at $140.11, with a volume of 173655 shares traded. The stock had previously closed at $140.35.

Specifically, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $180.82, for a total transaction of $352,599.00. Following the completion of the transaction, the chief executive officer now owns 3,091,958 shares in the company, valued at approximately $559,087,845.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Paycom Software news, insider Jason D. Clark sold 906 shares of Paycom Software stock in a transaction on Friday, June 14th. The stock was sold at an average price of $143.61, for a total transaction of $130,110.66. Following the completion of the sale, the insider now directly owns 43,367 shares of the company’s stock, valued at approximately $6,227,934.87. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Friday, May 17th. The shares were sold at an average price of $180.82, for a total value of $352,599.00. Following the sale, the chief executive officer now directly owns 3,091,958 shares of the company’s stock, valued at $559,087,845.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,387 shares of company stock valued at $5,653,933. 12.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. TD Cowen decreased their target price on Paycom Software from $170.00 to $147.00 and set a “hold” rating for the company in a research report on Thursday, June 20th. BMO Capital Markets decreased their target price on Paycom Software from $200.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, May 2nd. Jefferies Financial Group reduced their price target on 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, Barclays reduced their price target on 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. Sixteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Paycom Software presently has an average rating of “Hold” and a consensus target price of $237.81.

Read Our Latest Analysis on Paycom Software

Paycom Software Stock Performance

The company has a 50 day simple moving average of $155.96 and a two-hundred day simple moving average of $180.00. The firm has a market cap of $8.15 billion, a PE ratio of 17.09, a P/E/G ratio of 2.13 and a beta of 1.16.

Paycom Software (NYSE:PAYCGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The software maker reported $4.25 earnings per share for the quarter, beating the consensus estimate of $1.96 by $2.29. The business had revenue of $499.88 million for the quarter, compared to the consensus estimate of $495.89 million. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. As a group, research analysts predict that Paycom Software, Inc. will post 6.37 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th were paid a $0.375 dividend. The ex-dividend date was Friday, May 24th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.07%. Paycom Software’s payout ratio is 18.27%.

Institutional Trading of Paycom Software

A number of hedge funds have recently modified their holdings of the stock. CWM LLC boosted its stake in shares of Paycom Software by 42.4% in the second quarter. CWM LLC now owns 1,672 shares of the software maker’s stock worth $239,000 after buying an additional 498 shares during the last quarter. CVA Family Office LLC raised its holdings in Paycom Software by 234.3% in the 2nd quarter. CVA Family Office LLC now owns 234 shares of the software maker’s stock worth $33,000 after purchasing an additional 164 shares during the period. Trust Co. of Vermont raised its holdings in Paycom Software by 164.1% in the 2nd quarter. Trust Co. of Vermont now owns 845 shares of the software maker’s stock worth $121,000 after purchasing an additional 525 shares during the period. Mather Group LLC. raised its holdings in Paycom Software by 128.8% in the 2nd quarter. Mather Group LLC. now owns 286 shares of the software maker’s stock worth $41,000 after purchasing an additional 161 shares during the period. Finally, Cascade Investment Advisors Inc. acquired a new position in Paycom Software in the 2nd quarter worth about $943,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Company Profile

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for Paycom Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paycom Software and related companies with MarketBeat.com's FREE daily email newsletter.