Paycom Software, Inc. (NYSE:PAYC) CEO Sells $316,426.50 in Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $162.27, for a total value of $316,426.50. Following the completion of the sale, the chief executive officer now owns 2,961,308 shares in the company, valued at $480,531,449.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Paycom Software Trading Up 1.1 %

PAYC stock traded up $1.75 during trading on Monday, reaching $164.61. 447,157 shares of the stock were exchanged, compared to its average volume of 847,711. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $299.00. The firm’s 50 day moving average is $153.21 and its 200 day moving average is $171.06. The firm has a market cap of $9.57 billion, a P/E ratio of 19.88, a price-to-earnings-growth ratio of 2.22 and a beta of 1.16.

Paycom Software Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PAYC. TD Cowen boosted their price target on shares of Paycom Software from $147.00 to $171.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Barclays boosted their target price on shares of Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Finally, Mizuho cut their target price on Paycom Software from $185.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Seventeen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Paycom Software has an average rating of “Hold” and an average price target of $178.33.

Institutional Trading of Paycom Software

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Paycom Software by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 5,936,910 shares of the software maker’s stock valued at $1,227,278,000 after purchasing an additional 137,583 shares during the last quarter. Sylebra Capital LLC lifted its holdings in shares of Paycom Software by 53.9% in the second quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock valued at $279,996,000 after purchasing an additional 685,190 shares in the last quarter. Brown Capital Management LLC boosted its position in shares of 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 valued at $228,642,000 after buying an additional 101,744 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in Paycom Software by 9.4% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker’s stock worth $152,925,000 after buying an additional 92,049 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Paycom Software by 14.5% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 626,646 shares of the software maker’s stock worth $124,709,000 after buying an additional 79,299 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

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.