Paycom Software (NYSE:PAYC) Sees Strong Trading Volume

Paycom Software, Inc. (NYSE:PAYC) shares saw strong trading volume on Thursday . 2,231,109 shares were traded during trading, an increase of 164% from the previous session’s volume of 844,303 shares.The stock last traded at $159.28 and had previously closed at $160.00.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Barclays raised their target price on shares of Paycom Software from $161.00 to $167.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. TD Cowen raised their target price on shares of Paycom Software from $147.00 to $171.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Jefferies Financial Group lowered their price target on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Finally, Citigroup lowered their price target on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 18th. Seventeen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Paycom Software has an average rating of “Hold” and an average target price of $178.33.

Paycom Software Price Performance

The firm has a 50-day simple moving average of $156.84 and a 200 day simple moving average of $169.26. The stock has a market capitalization of $8.90 billion, a P/E ratio of 18.87, a P/E/G ratio of 2.30 and a beta of 1.17.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 9th. Shareholders of record on Monday, August 26th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.97%. The ex-dividend date is Monday, August 26th. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $144.42, for a total value of $281,619.00. Following the transaction, the chief executive officer now directly owns 3,062,708 shares of the company’s stock, valued at $442,316,289.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Amy Vickroy sold 1,381 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $143.39, for a total transaction of $198,021.59. Following the completion of the sale, the executive vice president now owns 19,962 shares in the company, valued at $2,862,351.18. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $144.42, for a total value of $281,619.00. Following the sale, the chief executive officer now owns 3,062,708 shares of the company’s stock, valued at approximately $442,316,289.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,143 shares of company stock valued at $11,678,915. 14.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Paycom Software

Several hedge funds and other institutional investors have recently modified their holdings of PAYC. Sylebra Capital LLC bought a new stake in Paycom Software during the first quarter worth $253,196,000. ValueAct Holdings L.P. bought a new stake in Paycom Software during the fourth quarter worth $125,686,000. Federated Hermes Inc. grew its holdings in Paycom Software by 1,011.2% during the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock worth $83,244,000 after buying an additional 529,591 shares in the last quarter. Raymond James & Associates grew its holdings in Paycom Software by 769.2% during the second quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock worth $28,803,000 after buying an additional 178,198 shares in the last quarter. Finally, Strategic Financial Concepts LLC grew its holdings in Paycom Software by 12,268.6% during the second quarter. Strategic Financial Concepts LLC now owns 169,202 shares of the software maker’s stock worth $242,000 after buying an additional 167,834 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

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.