Insider Selling: Paycom Software, Inc. (NYSE:PAYC) CEO Sells $311,590.50 in Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $159.79, for a total transaction of $311,590.50. Following the transaction, the chief executive officer now directly owns 2,969,108 shares of the company’s stock, valued at $474,433,767.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Paycom Software Price Performance

PAYC opened at $160.15 on Friday. The company has a market cap of $9.20 billion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 2.22 and a beta of 1.16. The firm has a 50 day simple moving average of $152.80 and a 200 day simple moving average of $171.66. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $299.00.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Monday, August 26th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Monday, August 26th. Paycom Software’s dividend payout ratio is currently 18.27%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PAYC shares. TD Cowen lifted their price target on shares of Paycom Software from $147.00 to $171.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Mizuho dropped their target price on shares of Paycom Software from $185.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Jefferies Financial Group dropped their target price on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Citigroup dropped their target price on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. Finally, William Blair reaffirmed a “market perform” rating on shares of Paycom Software in a research note on Thursday, May 2nd. Seventeen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $178.33.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of Paycom Software in the second quarter valued at approximately $25,000. Mather Group LLC. acquired a new position in shares of Paycom Software in the first quarter valued at approximately $26,000. MFA Wealth Advisors LLC acquired a new position in shares of Paycom Software in the second quarter valued at approximately $26,000. Hexagon Capital Partners LLC boosted its holdings in shares of Paycom Software by 333.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock valued at $27,000 after buying an additional 100 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Paycom Software in the second quarter valued at approximately $27,000. 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.