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 business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $179.78, for a total transaction of $350,571.00. Following the sale, the chief executive officer now directly owns 3,090,008 shares in the company, valued at approximately $555,521,638.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Paycom Software Stock Performance

Paycom Software stock opened at $174.43 on Friday. Paycom Software, Inc. has a 1 year low of $146.15 and a 1 year high of $374.04. The firm has a 50 day moving average price of $187.75 and a 200 day moving average price of $188.89. The company has a market cap of $10.14 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 2.83 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last released its 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 firm had revenue of $499.88 million during the quarter, compared to the consensus estimate of $495.89 million. Sell-side analysts predict that Paycom Software, Inc. will post 6.16 EPS for the current year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $1.50 annualized dividend and a yield of 0.86%. Paycom Software’s dividend payout ratio is currently 18.27%.

Institutional Investors Weigh In On Paycom Software

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Paycom Software by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 5,936,910 shares of the software maker’s stock worth $1,227,278,000 after buying an additional 137,583 shares during the period. Sylebra Capital LLC purchased a new stake in Paycom Software during the first quarter worth approximately $253,196,000. American Century Companies Inc. grew its stake in Paycom Software by 18.8% during the third quarter. American Century Companies Inc. now owns 1,139,511 shares of the software maker’s stock worth $295,441,000 after buying an additional 180,202 shares during the period. Brown Capital Management LLC grew its stake in Paycom Software by 10.1% during the fourth quarter. Brown Capital Management LLC now owns 1,106,045 shares of the software maker’s stock worth $228,642,000 after buying an additional 101,744 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in Paycom Software by 7.9% during the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 977,055 shares of the software maker’s stock worth $182,426,000 after buying an additional 71,272 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PAYC has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Monday. JPMorgan Chase & Co. lifted their target price on shares of Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Barclays cut their target price on shares of Paycom Software from $193.00 to $184.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. William Blair restated a “market perform” rating on shares of Paycom Software in a research report on Thursday, May 2nd. Finally, Piper Sandler lifted their target price on shares of Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Seventeen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Paycom Software currently has an average rating of “Hold” and a consensus target price of $246.31.

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.