Insider Selling: Paycom Software, Inc. (NYSE:PAYC) CEO Sells 120,000 Shares of Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 120,000 shares of Paycom Software stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $243.52, for a total value of $29,222,400.00. Following the completion of the transaction, the chief executive officer now directly owns 3,307,249 shares in the company, valued at approximately $805,381,276.48. This represents a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Paycom Software Stock Performance

Shares of PAYC stock opened at $252.95 on Monday. The company has a market cap of $14.63 billion, a P/E ratio of 28.42, a PEG ratio of 2.40 and a beta of 0.80. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $255.12. The stock has a 50 day simple moving average of $217.84 and a two-hundred day simple moving average of $215.32.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, beating the consensus estimate of $2.62 by $0.18. The firm had revenue of $530.50 million during the quarter, compared to the consensus estimate of $522.92 million. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.59 earnings per share. On average, research analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.50 annualized dividend and a dividend yield of 0.59%. Paycom Software’s dividend payout ratio is 16.85%.

Institutional Investors Weigh In On Paycom Software

Several hedge funds and other institutional investors have recently modified their holdings of PAYC. von Borstel & Associates Inc. bought a new stake in Paycom Software during the first quarter worth $27,000. Glass Jacobson Investment Advisors llc grew its holdings in Paycom Software by 746.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker’s stock worth $26,000 after buying an additional 112 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in Paycom Software by 112.3% during the first quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker’s stock worth $30,000 after buying an additional 73 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in Paycom Software during the fourth quarter worth $30,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Paycom Software by 135.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker’s stock worth $33,000 after buying an additional 87 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PAYC shares. Citigroup cut their price objective on Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday. KeyCorp lifted their target price on Paycom Software from $245.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday. BMO Capital Markets lifted their target price on Paycom Software from $215.00 to $244.00 and gave the stock a “market perform” rating in a report on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Paycom Software presently has an average rating of “Hold” and an average target price of $226.90.

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.