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 stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $158.66, for a total value of $309,387.00. Following the sale, the chief executive officer now directly owns 2,973,008 shares of the company’s stock, valued at $471,697,449.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Paycom Software Price Performance

Shares of Paycom Software stock traded up $0.22 during trading hours on Friday, reaching $159.91. The company had a trading volume of 1,418,880 shares, compared to its average volume of 861,811. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $299.00. The business has a fifty day simple moving average of $151.24 and a 200 day simple moving average of $172.85. The firm has a market cap of $9.29 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Monday, August 26th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Monday, August 26th. Paycom Software’s payout ratio is currently 18.27%.

Analysts Set New Price Targets

A number of analysts recently commented on PAYC shares. JPMorgan Chase & Co. increased their price target on Paycom Software from $165.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Mizuho decreased their price target on Paycom Software from $185.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. William Blair reaffirmed a “market perform” rating on shares of Paycom Software in a research report on Thursday, May 2nd. Finally, StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Seventeen equities research 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.com, the company has an average rating of “Hold” and an average target price of $178.33.

Hedge Funds Weigh In On Paycom Software

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Paycom Software by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 5,936,910 shares of the software maker’s stock worth $1,227,278,000 after acquiring an additional 137,583 shares during the period. Sylebra Capital LLC boosted its holdings in shares of Paycom Software by 53.9% in the second quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock worth $279,996,000 after acquiring an additional 685,190 shares during the period. Brown Capital Management LLC boosted its stake in Paycom Software by 10.1% during 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 buying an additional 101,744 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in 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 valued at $152,925,000 after buying an additional 92,049 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Paycom Software by 14.5% during 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 period. 87.77% of the stock is owned by institutional investors.

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.