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 Friday, August 9th. The stock was sold at an average price of $158.27, for a total value of $308,626.50. Following the completion of the transaction, the chief executive officer now directly owns 2,980,808 shares of the company’s stock, valued at approximately $471,772,482.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Paycom Software Stock Down 2.7 %

Paycom Software stock traded down $4.33 during mid-day trading on Monday, reaching $153.71. 514,325 shares of the company’s stock were exchanged, compared to its average volume of 861,830. The company has a fifty day moving average of $150.37 and a 200-day moving average of $173.60. The company has a market cap of $8.93 billion, a P/E ratio of 19.18, a P/E/G ratio of 2.20 and a beta of 1.16. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $299.00.

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 issued 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 yield of 0.98%. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

Institutional Investors Weigh In On Paycom Software

Several large investors have recently bought and sold shares of PAYC. Vanguard Group Inc. grew its position in shares of Paycom Software by 2.4% during the fourth 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 in the last quarter. Sylebra Capital LLC acquired a new stake in shares of Paycom Software in the 1st quarter valued at $253,196,000. Brown Capital Management LLC lifted its position in shares of Paycom Software by 10.1% during the 4th quarter. Brown Capital Management LLC now owns 1,106,045 shares of the software maker’s stock worth $228,642,000 after purchasing an additional 101,744 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of Paycom Software by 9.4% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker’s stock worth $152,925,000 after purchasing an additional 92,049 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Paycom Software by 14.5% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 626,646 shares of the software maker’s stock valued at $124,709,000 after buying an additional 79,299 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets dropped their price target on shares of Paycom Software from $200.00 to $190.00 and set a “market perform” rating on the stock in a research note on Thursday, May 2nd. Citigroup reduced their price target on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. TD Cowen lifted their price objective on Paycom Software from $147.00 to $171.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. William Blair reissued a “market perform” rating on shares of Paycom Software in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Paycom Software from $165.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Seventeen analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Paycom Software presently has a consensus rating of “Hold” and a consensus target price of $178.33.

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.