Paycom Software, Inc. (NYSE:PAYC) CEO Sells $308,626.50 in Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Friday, August 9th. The stock was sold at an average price of $158.27, for a total transaction of $308,626.50. Following the completion of the transaction, the chief executive officer now owns 2,980,808 shares in the company, valued at approximately $471,772,482.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Paycom Software Trading Down 0.9 %

NYSE:PAYC opened at $155.17 on Thursday. The company has a 50-day moving average price of $150.95 and a 200-day moving average price of $172.94. The stock has a market cap of $8.91 billion, a price-to-earnings ratio of 18.90, a P/E/G ratio of 2.19 and a beta of 1.16. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $299.00.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 9th. Shareholders of record on Monday, August 26th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Monday, August 26th. This represents a $1.50 annualized dividend and a yield of 0.97%. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Barclays raised their price objective on Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Jefferies Financial Group lowered their price objective 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. TD Cowen raised their target price on shares of Paycom Software from $147.00 to $171.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, Citigroup lowered their price target on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a report on Tuesday, June 18th. Seventeen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $178.33.

Institutional Trading of Paycom Software

Several large investors have recently bought and sold shares of PAYC. Mather Group LLC. purchased a new position in shares of Paycom Software in the 1st quarter valued at approximately $26,000. Hexagon Capital Partners LLC raised its holdings in Paycom Software by 333.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock worth $27,000 after purchasing an additional 100 shares in the last quarter. Palisade Asset Management LLC bought a new position in Paycom Software in the first quarter worth $32,000. Ashton Thomas Private Wealth LLC purchased a new position in Paycom Software during the second quarter valued at $25,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Paycom Software during the 2nd quarter valued at $26,000. 87.77% of the stock is owned by 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.