Paycom Software, Inc. (NYSE:PAYC) CEO Sells $345,052.50 in Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $176.95, for a total transaction of $345,052.50. Following the completion of the transaction, the chief executive officer now owns 3,084,158 shares of the company’s stock, valued at approximately $545,741,758.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Paycom Software Stock Performance

Shares of NYSE PAYC traded down $3.38 during midday trading on Friday, reaching $170.68. 758,468 shares of the stock were exchanged, compared to its average volume of 825,788. The stock has a market capitalization of $9.92 billion, a P/E ratio of 21.25, a PEG ratio of 2.83 and a beta of 1.17. Paycom Software, Inc. has a twelve month low of $146.15 and a twelve month high of $374.04. The company has a 50 day simple moving average of $187.75 and a 200 day simple moving average of $188.89.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, May 1st. The software maker reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $2.29. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. The business had revenue of $499.88 million for the quarter, compared to the consensus estimate of $495.89 million. On average, research analysts expect that Paycom Software, Inc. will post 6.16 earnings per share for the current year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Tuesday, May 28th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Friday, May 24th. Paycom Software’s dividend payout ratio (DPR) is 18.27%.

Wall Street Analyst Weigh In

PAYC has been the topic of a number of recent analyst reports. BTIG Research initiated coverage on Paycom Software in a research report on Tuesday, February 6th. They set a “neutral” rating on the stock. Piper Sandler boosted their price target on shares of Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. William Blair reaffirmed a “market perform” rating on shares of Paycom Software in a report on Thursday, May 2nd. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday. Finally, BMO Capital Markets decreased 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. Seventeen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $246.31.

Institutional Trading of Paycom Software

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its holdings in Paycom Software by 3.9% in the third quarter. Principal Financial Group Inc. now owns 65,893 shares of the software maker’s stock valued at $17,084,000 after purchasing an additional 2,443 shares during the period. US Bancorp DE raised its position in shares of Paycom Software by 25.8% during the 3rd quarter. US Bancorp DE now owns 91,950 shares of the software maker’s stock worth $23,840,000 after acquiring an additional 18,857 shares in the last quarter. Syon Capital LLC purchased a new stake in Paycom Software during the third quarter worth approximately $337,000. Victory Capital Management Inc. increased its stake in Paycom Software by 5.5% in the third quarter. Victory Capital Management Inc. now owns 35,929 shares of the software maker’s stock valued at $9,315,000 after purchasing an additional 1,879 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its holdings in shares of Paycom Software by 0.8% in the 3rd quarter. Retirement Systems of Alabama now owns 11,137 shares of the software maker’s stock valued at $2,887,000 after buying an additional 89 shares in the last quarter. 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.