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 Monday, September 30th. The stock was sold at an average price of $166.60, for a total transaction of $324,870.00. Following the completion of the sale, the chief executive officer now directly owns 2,795,310 shares of the company’s stock, valued at approximately $465,698,646. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Paycom Software Price Performance

Paycom Software stock opened at $166.73 on Thursday. The company has a market cap of $9.58 billion, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 2.37 and a beta of 1.17. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $279.96. The firm’s 50 day simple moving average is $163.58 and its 200-day simple moving average is $167.34.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.07. The company had revenue of $437.51 million for the quarter, compared to the consensus estimate of $436.19 million. Paycom Software had a net margin of 26.55% and a return on equity of 33.36%. On average, analysts expect that Paycom Software, Inc. will post 6.67 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.90%. The ex-dividend date was Monday, August 26th. Paycom Software’s dividend payout ratio is currently 18.27%.

Analysts Set New Price Targets

Several research firms have recently issued reports on PAYC. Citigroup decreased their price objective 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. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Barclays boosted their price objective on Paycom Software from $161.00 to $167.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Jefferies Financial Group decreased their target price on Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Finally, TD Cowen boosted their price target on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Seventeen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $179.75.

Institutional Investors Weigh In On Paycom Software

A number of institutional investors have recently bought and sold shares of the business. ARK & TLK Investments LLC acquired a new stake in shares of Paycom Software during the fourth quarter worth approximately $2,260,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Paycom Software by 29.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock valued at $12,848,000 after buying an additional 14,670 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of Paycom Software by 17.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 59,242 shares of the software maker’s stock valued at $11,790,000 after acquiring an additional 8,927 shares in the last quarter. Norges Bank acquired a new position in shares of Paycom Software in the fourth quarter worth $6,670,000. Finally, Sylebra Capital LLC purchased a new stake in shares of Paycom Software during the first quarter worth $253,196,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

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.