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 business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $172.43, for a total transaction of $336,238.50. Following the transaction, the chief executive officer now owns 2,750,910 shares in the company, valued at $474,339,411.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Paycom Software Stock Up 21.4 %

Paycom Software stock traded up $36.78 during mid-day trading on Thursday, reaching $209.03. 2,554,578 shares of the company’s stock were exchanged, compared to its average volume of 817,218. The company has a market cap of $12.00 billion, a P/E ratio of 25.18, a P/E/G ratio of 2.34 and a beta of 1.17. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $247.42. The company has a fifty day moving average of $165.64 and a 200-day moving average of $162.91.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, July 31st. The software maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. Paycom Software had a net margin of 26.55% and a return on equity of 33.36%. The business had revenue of $437.51 million for the quarter, compared to analyst estimates of $436.19 million. Equities research analysts expect that Paycom Software, Inc. will post 6.64 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be issued a $0.375 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.72%. Paycom Software’s payout ratio is 18.07%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PAYC shares. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. TD Cowen boosted their price target on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. BMO Capital Markets boosted 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. Barclays increased their price target on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Seventeen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $186.92.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC purchased a new position in shares of Paycom Software in the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC purchased a new position in shares of Paycom Software in the 2nd quarter valued at $26,000. Armstrong Advisory Group Inc. purchased a new position in shares of Paycom Software in the 3rd quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Paycom Software in the 2nd quarter valued at $27,000. Finally, Palisade Asset Management LLC purchased a new position in shares of Paycom Software in the 1st quarter valued at $32,000. 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.