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

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $229.09, for a total value of $446,725.50. Following the completion of the transaction, the chief executive officer now owns 2,731,410 shares of the company’s stock, valued at approximately $625,738,716.90. This represents a 0.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Paycom Software Stock Down 1.4 %

NYSE:PAYC traded down $3.18 on Thursday, reaching $224.62. The company’s stock had a trading volume of 504,516 shares, compared to its average volume of 813,906. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $233.69. The firm has a market cap of $12.95 billion, a price-to-earnings ratio of 27.10, a price-to-earnings-growth ratio of 3.06 and a beta of 1.14. The stock has a 50 day moving average price of $177.57 and a 200 day moving average price of $165.32.

Paycom Software Announces Dividend

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

Hedge Funds Weigh In On Paycom Software

A number of hedge funds have recently made changes to their positions in PAYC. Ashton Thomas Private Wealth LLC purchased a new stake in Paycom Software during the second quarter worth about $25,000. MFA Wealth Advisors LLC purchased a new position in Paycom Software in the second quarter valued at $26,000. Armstrong Advisory Group Inc. purchased a new stake in shares of Paycom Software in the 3rd quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Paycom Software in the 2nd quarter valued at approximately $27,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Paycom Software in the 3rd quarter valued at approximately $28,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. TD Cowen increased their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. BMO Capital Markets raised their price objective on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Mizuho upped their price objective on shares of Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Jefferies Financial Group boosted their target price on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Paycom Software currently has an average rating of “Hold” and an average target price 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.