Paycom Software, Inc. (NYSE:PAYC) CEO Sells $446,725.50 in Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $229.09, for a total value of $446,725.50. Following the completion of the sale, the chief executive officer now directly owns 2,731,410 shares in the company, valued at approximately $625,738,716.90. The trade was a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Paycom Software Price Performance

Paycom Software stock traded down $1.24 during midday trading on Friday, hitting $223.43. 39,739 shares of the company were exchanged, compared to its average volume of 810,419. The company’s fifty day moving average price is $177.57 and its 200-day moving average price is $165.32. The company has a market cap of $12.88 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 3.05 and a beta of 1.14. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $233.69.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 annualized dividend and a yield of 0.67%. Paycom Software’s dividend payout ratio is presently 18.05%.

Institutional Investors Weigh In On Paycom Software

Several hedge funds and other institutional investors have recently bought and sold shares of PAYC. Ashton Thomas Private Wealth LLC purchased a new stake in Paycom Software during the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC purchased a new stake in Paycom Software during the 2nd quarter worth approximately $26,000. Armstrong Advisory Group Inc. purchased a new stake in Paycom Software during the 3rd quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Paycom Software during the 2nd quarter worth approximately $27,000. Finally, Brooklyn Investment Group purchased a new stake in Paycom Software during the 3rd quarter worth approximately $28,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on PAYC. Barclays raised their price target on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Piper Sandler lifted their price objective on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Citigroup lifted their price objective on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group lifted their price objective on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $193.67.

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.