Paycom Software (NYSE:PAYC) Sees Large Volume Increase

Paycom Software, Inc. (NYSE:PAYC) saw strong trading volume on Thursday . 2,231,109 shares changed hands during trading, an increase of 164% from the previous session’s volume of 844,303 shares.The stock last traded at $159.28 and had previously closed at $160.00.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PAYC shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Barclays increased their price target on Paycom Software from $161.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Citigroup decreased their price objective on Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a report on Tuesday, June 18th. StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Finally, TD Cowen boosted their price target on Paycom Software from $147.00 to $171.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Seventeen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $178.33.

Paycom Software Stock Performance

The stock has a market capitalization of $8.99 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 2.30 and a beta of 1.17. The stock’s 50 day moving average is $156.31 and its two-hundred day moving average is $169.61.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Monday, August 26th will be given a dividend of $0.375 per share. 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 0.96%. Paycom Software’s payout ratio is presently 18.27%.

Insider Buying and Selling at Paycom Software

In related news, CFO Craig E. Boelte sold 11,882 shares of Paycom Software stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the transaction, the chief financial officer now owns 294,849 shares in the company, valued at $45,990,547.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Craig E. Boelte sold 11,882 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the completion of the sale, the chief financial officer now directly owns 294,849 shares in the company, valued at $45,990,547.02. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $167.97, for a total transaction of $327,541.50. Following the completion of the transaction, the chief executive officer now owns 2,994,458 shares in the company, valued at $502,979,110.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,193 shares of company stock worth $11,366,232. Insiders own 14.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PAYC. Ashton Thomas Private Wealth LLC acquired a new position in shares of Paycom Software in the 2nd quarter valued at $25,000. Mather Group LLC. acquired a new position in Paycom Software in the first quarter valued at about $26,000. MFA Wealth Advisors LLC purchased a new position in Paycom Software during the second quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Paycom Software during the second quarter valued at about $27,000. Finally, Palisade Asset Management LLC acquired a new stake in shares of Paycom Software during the first quarter valued at about $32,000. 87.77% of the stock is currently owned by hedge funds and other 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.