Paycom Software, Inc. (NYSE:PAYC) CEO Sells $315,900.00 in Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $162.00, for a total value of $315,900.00. Following the transaction, the chief executive officer now owns 2,941,808 shares in the company, valued at $476,572,896. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Paycom Software Stock Up 2.3 %

NYSE:PAYC traded up $3.84 during trading hours on Tuesday, reaching $167.66. 744,458 shares of the stock were exchanged, compared to its average volume of 850,703. The business has a 50-day moving average of $157.27 and a two-hundred day moving average of $168.90. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $287.60. The company has a market capitalization of $9.63 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 2.19 and a beta of 1.17.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Monday, August 26th. Paycom Software’s dividend payout ratio (DPR) is 18.27%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC acquired a new position in Paycom Software during the second quarter worth $25,000. Mather Group LLC. purchased a new stake in shares of Paycom Software during the first quarter worth $26,000. MFA Wealth Advisors LLC purchased a new stake in shares of Paycom Software during the second quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Paycom Software during the second quarter worth $27,000. Finally, Palisade Asset Management LLC purchased a new stake in shares of Paycom Software during the first quarter worth $32,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PAYC has been the topic of several recent research reports. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Barclays boosted their target price on Paycom Software from $161.00 to $167.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Jefferies Financial Group lowered their target price on Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Finally, Citigroup lowered their target price on Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. Seventeen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.