Paycom Software, Inc. (NYSE:PAYC) CEO Sells $332,299.50 in Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $170.41, for a total value of $332,299.50. Following the sale, the chief executive officer now directly owns 2,801,160 shares in the company, valued at $477,345,675.60. The sale was disclosed in a filing with the SEC, which is available through this link.

Paycom Software Stock Performance

Paycom Software stock opened at $167.80 on Friday. The company has a market capitalization of $9.64 billion, a PE ratio of 20.44, a P/E/G ratio of 2.46 and a beta of 1.17. The company has a 50 day moving average price of $163.26 and a 200-day moving average price of $167.95. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $279.96.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.07. Paycom Software had a net margin of 26.55% and a return on equity of 33.36%. The company had revenue of $437.51 million for the quarter, compared to analysts’ expectations of $436.19 million. On average, analysts forecast that Paycom Software, Inc. will post 6.67 earnings per share for the current year.

Paycom Software Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. TD Cowen lifted their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Barclays lifted their price target on Paycom Software from $161.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Jefferies Financial Group lowered their price objective on Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Finally, StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Seventeen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $179.75.

Institutional Investors Weigh In On Paycom Software

A number of hedge funds have recently made changes to their positions in the stock. Sylebra Capital LLC bought a new stake in shares of Paycom Software in the 1st quarter valued at about $253,196,000. ValueAct Holdings L.P. acquired a new stake in Paycom Software in the fourth quarter valued at approximately $125,686,000. Federated Hermes Inc. grew its holdings in Paycom Software by 1,011.2% in the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock worth $83,244,000 after purchasing an additional 529,591 shares during the last quarter. Raymond James & Associates increased its position in shares of Paycom Software by 769.2% during the second quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock worth $28,803,000 after purchasing an additional 178,198 shares in the last quarter. Finally, Strategic Financial Concepts LLC boosted its position in shares of Paycom Software by 12,268.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 169,202 shares of the software maker’s stock worth $242,000 after purchasing an additional 167,834 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

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.