Chad R. Richison Sells 26,426 Shares of Paycom Software, Inc. (NYSE:PAYC) Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 26,426 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $255.52, for a total value of $6,752,371.52. Following the completion of the sale, the chief executive officer now directly owns 3,277,249 shares of the company’s stock, valued at approximately $837,402,664.48. This represents a 0.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Paycom Software Price Performance

Shares of PAYC opened at $256.30 on Friday. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $261.64. The stock has a market cap of $14.83 billion, a PE ratio of 28.80, a P/E/G ratio of 2.40 and a beta of 0.80. The firm has a 50-day simple moving average of $221.45 and a two-hundred day simple moving average of $217.17.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. The business had revenue of $530.50 million during the quarter, compared to analysts’ expectations of $522.92 million. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the business earned $2.59 earnings per share. As a group, sell-side analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Tuesday, May 27th. Paycom Software’s payout ratio is 21.40%.

Institutional Investors Weigh In On Paycom Software

Several institutional investors and hedge funds have recently modified their holdings of the company. Brooklyn Investment Group raised its holdings in shares of Paycom Software by 19.4% in the 1st quarter. Brooklyn Investment Group now owns 240 shares of the software maker’s stock valued at $52,000 after buying an additional 39 shares during the period. Private Trust Co. NA increased its stake in Paycom Software by 9.3% during the fourth quarter. Private Trust Co. NA now owns 575 shares of the software maker’s stock worth $118,000 after purchasing an additional 49 shares during the period. Commerce Bank increased its stake in Paycom Software by 2.2% during the first quarter. Commerce Bank now owns 2,351 shares of the software maker’s stock worth $514,000 after purchasing an additional 50 shares during the period. Oppenheimer & Co. Inc. increased its stake in Paycom Software by 1.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker’s stock worth $602,000 after purchasing an additional 51 shares during the period. Finally, Allworth Financial LP increased its stake in Paycom Software by 12.9% during the 1st quarter. Allworth Financial LP now owns 464 shares of the software maker’s stock worth $105,000 after buying an additional 53 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PAYC. Citigroup cut their target price on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Stifel Nicolaus raised their price objective on shares of Paycom Software from $187.00 to $215.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th. Barclays raised their price objective on shares of Paycom Software from $221.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 8th. KeyCorp raised their price objective on shares of Paycom Software from $245.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Finally, BMO Capital Markets raised their price target on shares of Paycom Software from $215.00 to $244.00 and gave the stock a “market perform” rating in a report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $226.90.

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.