Chad R. Richison Sells 1,950 Shares of Paycom Software, Inc. (NYSE:PAYC) Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $165.27, for a total value of $322,276.50. Following the completion of the sale, the chief executive officer now owns 2,766,510 shares of the company’s stock, valued at approximately $457,221,107.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Paycom Software Stock Down 0.8 %

Paycom Software stock opened at $166.40 on Wednesday. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $264.70. The company’s 50 day moving average price is $164.67 and its two-hundred day moving average price is $164.15. The stock has a market cap of $9.56 billion, a P/E ratio of 20.05, a P/E/G ratio of 2.35 and a beta of 1.17.

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

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were given a dividend of $0.375 per share. The ex-dividend date was Monday, August 26th. This represents a $1.50 annualized dividend and a dividend yield of 0.90%. Paycom Software’s dividend payout ratio is currently 18.07%.

Analysts Set New Price Targets

Several brokerages have recently commented on PAYC. Jefferies Financial Group raised their target price on Paycom Software from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Tuesday. StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Barclays raised their target price on Paycom Software from $167.00 to $172.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. TD Cowen raised their target price on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Seventeen analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $182.25.

Hedge Funds Weigh In On Paycom Software

Several hedge funds have recently modified their holdings of the company. Sylebra Capital LLC lifted its position in shares of Paycom Software by 53.9% during the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock worth $279,996,000 after buying an additional 685,190 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of Paycom Software by 9.4% in the 2nd 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 during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Paycom Software by 14.5% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 626,646 shares of the software maker’s stock worth $124,709,000 after purchasing an additional 79,299 shares during the period. Federated Hermes Inc. raised its holdings in shares of Paycom Software by 1,011.2% in the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock worth $83,244,000 after purchasing an additional 529,591 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Paycom Software by 6.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 455,271 shares of the software maker’s stock worth $65,122,000 after purchasing an additional 26,934 shares during the period. Institutional investors own 87.77% of the company’s stock.

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.