Insider Selling: Paycom Software, Inc. (NYSE:PAYC) CEO Sells $322,822.50 in Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $165.55, for a total value of $322,822.50. Following the completion of the transaction, the chief executive officer now directly owns 2,998,358 shares of the company’s stock, valued at $496,378,166.90. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Paycom Software Stock Performance

Shares of PAYC opened at $167.37 on Friday. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $332.50. The stock has a 50 day moving average price of $150.88 and a two-hundred day moving average price of $175.42. The firm has a market capitalization of $9.73 billion, a P/E ratio of 20.39, a P/E/G ratio of 2.75 and a beta of 1.16.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, May 1st. The software maker reported $4.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $2.29. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. The firm had revenue of $499.88 million for the quarter, compared to the consensus estimate of $495.89 million. On average, equities analysts forecast that Paycom Software, Inc. will post 6.36 earnings per share for the current year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Monday, August 26th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Monday, August 26th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.90%. Paycom Software’s payout ratio is presently 18.27%.

Hedge Funds Weigh In On Paycom Software

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Paycom Software by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 5,936,910 shares of the software maker’s stock worth $1,227,278,000 after buying an additional 137,583 shares during the last quarter. Sylebra Capital LLC purchased a new position in Paycom Software in the first quarter valued at approximately $253,196,000. Brown Capital Management LLC lifted its stake in Paycom Software by 10.1% in the fourth quarter. Brown Capital Management LLC now owns 1,106,045 shares of the software maker’s stock valued at $228,642,000 after purchasing an additional 101,744 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in Paycom Software by 9.4% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker’s stock valued at $152,925,000 after purchasing an additional 92,049 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Paycom Software by 16,173.6% in the fourth quarter. International Assets Investment Management LLC now owns 787,803 shares of the software maker’s stock valued at $162,855,000 after purchasing an additional 782,962 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on PAYC shares. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday. BMO Capital Markets lowered their price objective 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. StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Barclays boosted their target price on Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Jefferies Financial Group decreased their target price 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. Seventeen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $238.25.

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.