Paycom Software, Inc. (NYSE:PAYC) CEO Sells $327,541.50 in Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $167.97, for a total transaction of $327,541.50. Following the sale, the chief executive officer now owns 2,994,458 shares of the company’s stock, valued at approximately $502,979,110.26. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Paycom Software Stock Performance

Paycom Software stock opened at $164.31 on Friday. The firm has a market capitalization of $9.55 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 2.71 and a beta of 1.16. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $303.13. The stock’s fifty day moving average is $150.75 and its two-hundred day moving average is $175.05.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, May 1st. The software maker reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $2.29. The company had revenue of $499.88 million during the quarter, compared to analysts’ expectations of $495.89 million. Paycom Software had a net margin of 26.55% and a return on equity of 33.36%. As a group, sell-side analysts forecast that Paycom Software, Inc. will post 6.52 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Monday, August 26th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Monday, August 26th. Paycom Software’s payout ratio is currently 18.27%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PAYC. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. TD Cowen upped their price target on Paycom Software from $147.00 to $171.00 and gave the stock a “hold” rating in a research note on Thursday. Citigroup lowered their price objective on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 18th. William Blair restated a “market perform” rating on shares of Paycom Software in a research report on Thursday, May 2nd. Finally, BMO Capital Markets lowered their target price on shares of Paycom Software from $200.00 to $190.00 and set a “market perform” rating on the stock in a report on Thursday, May 2nd. Seventeen analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $178.33.

Hedge Funds Weigh In On Paycom Software

Several hedge funds have recently bought and sold shares of the stock. Mather Group LLC. purchased a new stake in shares of Paycom Software in the first quarter valued at $26,000. MFA Wealth Advisors LLC purchased a new position in Paycom Software in the 2nd quarter valued at about $26,000. Hexagon Capital Partners LLC boosted its stake in shares of Paycom Software by 333.3% during the 4th quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Paycom Software during the second quarter worth about $27,000. Finally, Palisade Asset Management LLC acquired a new position in shares of Paycom Software in the first quarter valued at approximately $32,000. Hedge funds and other institutional investors 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.