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 company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $170.19, for a total value of $331,870.50. Following the sale, the chief executive officer now owns 2,810,910 shares in the company, valued at approximately $478,388,772.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Paycom Software Stock Down 1.6 %

PAYC opened at $170.24 on Friday. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $279.96. The business’s 50 day moving average is $162.09 and its two-hundred day moving average is $168.24. The firm has a market cap of $9.89 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 2.39 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share (EPS) for the quarter, topping 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 analysts expect that Paycom Software, Inc. will post 6.67 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were paid a $0.375 dividend. The ex-dividend date was Monday, August 26th. This represents a $1.50 dividend on an annualized basis and a yield of 0.88%. Paycom Software’s dividend payout ratio is presently 18.27%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PAYC shares. Jefferies Financial Group cut their target price on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. TD Cowen increased their price objective on shares of Paycom Software from $147.00 to $171.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Citigroup dropped their target price on Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. Finally, Barclays lifted their price target on Paycom Software from $161.00 to $167.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Seventeen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $178.33.

Institutional Investors Weigh In On Paycom Software

Several hedge funds have recently made changes to their positions in the business. Sanctuary Advisors LLC acquired a new position in Paycom Software in the 2nd quarter valued at about $856,000. KPP Advisory Services LLC raised its stake in shares of Paycom Software by 31.5% during the second quarter. KPP Advisory Services LLC now owns 3,482 shares of the software maker’s stock worth $498,000 after purchasing an additional 834 shares during the last quarter. Aurora Investment Counsel lifted its holdings in shares of Paycom Software by 7.0% during the second quarter. Aurora Investment Counsel now owns 13,209 shares of the software maker’s stock worth $1,889,000 after purchasing an additional 865 shares during the period. Cetera Investment Advisers grew its position in Paycom Software by 49.0% in the 2nd quarter. Cetera Investment Advisers now owns 26,878 shares of the software maker’s stock valued at $3,845,000 after buying an additional 8,836 shares during the last quarter. Finally, Truist Financial Corp increased its stake in Paycom Software by 43.8% in the 2nd quarter. Truist Financial Corp now owns 93,353 shares of the software maker’s stock valued at $13,353,000 after buying an additional 28,426 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

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.