Insider Selling: Paycom Software, Inc. (NYSE:PAYC) CEO Sells 1,950 Shares of Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $167.97, for a total value of $327,541.50. Following the completion of the transaction, the chief executive officer now owns 2,994,458 shares of the company’s stock, valued at $502,979,110.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Paycom Software Trading Down 1.8 %

Shares of PAYC stock opened at $164.31 on Friday. The firm has a market capitalization of $9.55 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 2.71 and a beta of 1.16. The firm’s 50 day moving average is $150.75 and its 200-day moving average is $175.05. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $303.13.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, May 1st. The software maker reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $2.29. The firm had revenue of $499.88 million for the quarter, compared to analyst estimates of $495.89 million. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. On average, equities research analysts forecast that Paycom Software, Inc. will post 6.52 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Monday, August 26th will be given a $0.375 dividend. The ex-dividend date of this dividend is Monday, August 26th. This represents a $1.50 dividend on an annualized basis and a yield of 0.91%. Paycom Software’s payout ratio is 18.27%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PAYC. Mather Group LLC. bought a new stake in shares of Paycom Software during the first quarter worth approximately $26,000. Hexagon Capital Partners LLC raised its position in shares of Paycom Software by 333.3% during the 4th quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock valued at $27,000 after acquiring an additional 100 shares during the last quarter. Palisade Asset Management LLC acquired a new position in shares of Paycom Software in the 1st quarter valued at $32,000. MFA Wealth Advisors LLC acquired a new position in shares of Paycom Software in the 2nd quarter valued at $26,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Paycom Software in the 2nd quarter worth $27,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group dropped their price objective on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, June 24th. JPMorgan Chase & Co. raised their price target on shares of Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Mizuho lowered their price objective on Paycom Software from $185.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. BMO Capital Markets cut their target price on Paycom Software from $200.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd. Finally, William Blair reiterated a “market perform” rating on shares of Paycom Software in a research report on Thursday, May 2nd. Seventeen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $178.33.

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.