Insider Selling: Paycom Software, Inc. (NYSE:PAYC) CEO Sells $408,759.00 in Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $209.62, for a total value of $408,759.00. Following the completion of the sale, the chief executive officer now directly owns 2,747,010 shares of the company’s stock, valued at $575,828,236.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Paycom Software Trading Up 5.7 %

Shares of PAYC opened at $231.09 on Thursday. The stock has a 50 day moving average of $170.97 and a 200 day moving average of $163.91. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $233.69. The company has a market capitalization of $13.32 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 2.92 and a beta of 1.14.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Monday, November 25th. Paycom Software’s payout ratio is 18.05%.

Hedge Funds Weigh In On Paycom Software

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp boosted its stake in Paycom Software by 6.9% in the first quarter. Van ECK Associates Corp now owns 9,035 shares of the software maker’s stock valued at $1,798,000 after acquiring an additional 581 shares during the last quarter. Norden Group LLC grew its holdings in Paycom Software by 13.6% during the first quarter. Norden Group LLC now owns 3,220 shares of the software maker’s stock valued at $641,000 after purchasing an additional 385 shares during the period. Private Advisor Group LLC increased its position in Paycom Software by 10.9% in the first quarter. Private Advisor Group LLC now owns 2,796 shares of the software maker’s stock worth $556,000 after buying an additional 274 shares during the last quarter. Diversify Advisory Services LLC bought a new stake in shares of Paycom Software in the first quarter valued at $256,000. Finally, Janney Montgomery Scott LLC raised its stake in shares of Paycom Software by 17.7% in the first quarter. Janney Montgomery Scott LLC now owns 59,242 shares of the software maker’s stock valued at $11,790,000 after buying an additional 8,927 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PAYC shares. BMO Capital Markets boosted 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. Barclays raised their price objective on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. TD Cowen raised their price target on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.