Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison Sells 1,950 Shares of Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Monday, November 11th. The stock was sold at an average price of $228.38, for a total value of $445,341.00. Following the sale, the chief executive officer now directly owns 2,735,310 shares of the company’s stock, valued at $624,690,097.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Paycom Software Price Performance

PAYC stock opened at $228.89 on Wednesday. The stock has a market cap of $13.20 billion, a price-to-earnings ratio of 27.54, a P/E/G ratio of 3.05 and a beta of 1.14. The company has a 50 day simple moving average of $174.86 and a 200 day simple moving average of $164.60. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $233.69.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders 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 dividend yield of 0.66%. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Institutional Investors Weigh In On Paycom Software

Several hedge funds have recently modified their holdings of PAYC. Wrapmanager Inc. increased its holdings in Paycom Software by 2.6% in the 3rd quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock worth $362,000 after purchasing an additional 56 shares in the last quarter. Andina Capital Management LLC increased its stake in shares of Paycom Software by 4.0% in the third quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock valued at $275,000 after buying an additional 63 shares during the period. Davis Investment Partners LLC raised its holdings in Paycom Software by 1.0% in the 3rd quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock valued at $1,067,000 after buying an additional 64 shares during the last quarter. GAMMA Investing LLC boosted its position in Paycom Software by 26.7% during the 3rd quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock worth $54,000 after buying an additional 68 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Paycom Software by 1.7% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,624 shares of the software maker’s stock worth $661,000 after acquiring an additional 79 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on PAYC. Mizuho lifted their price objective on shares of Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Citigroup increased their price target on Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. TD Cowen lifted their price objective on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Finally, Piper Sandler increased their target price on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Twelve research 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 stock 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.