Paycom Software, Inc. (NYSE:PAYC) CEO Sells $6,152,640.00 in Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 23,200 shares of the company’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $265.20, for a total value of $6,152,640.00. Following the transaction, the chief executive officer now owns 3,224,049 shares of the company’s stock, valued at approximately $855,017,794.80. The trade was a 0.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Paycom Software Stock Performance

Shares of NYSE PAYC opened at $258.48 on Tuesday. The firm has a market cap of $14.95 billion, a price-to-earnings ratio of 29.04, a P/E/G ratio of 2.40 and a beta of 0.81. The business’s 50-day simple moving average is $235.57 and its 200-day simple moving average is $222.17. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $267.76.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The firm had revenue of $530.50 million for the quarter, compared to analyst estimates of $522.92 million. During the same quarter last year, the firm posted $2.59 EPS. The company’s revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were given a $0.375 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.50 annualized dividend and a dividend yield of 0.58%. Paycom Software’s dividend payout ratio is 21.40%.

Institutional Investors Weigh In On Paycom Software

Several hedge funds have recently modified their holdings of the business. Proficio Capital Partners LLC bought a new position in Paycom Software in the fourth quarter worth $7,142,000. Glenview Trust co lifted its holdings in shares of Paycom Software by 27.1% during the fourth quarter. Glenview Trust co now owns 12,294 shares of the software maker’s stock valued at $2,520,000 after acquiring an additional 2,625 shares during the period. American Century Companies Inc. raised its holdings in shares of Paycom Software by 43.0% in the fourth quarter. American Century Companies Inc. now owns 52,755 shares of the software maker’s stock valued at $10,813,000 after buying an additional 15,852 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Paycom Software by 0.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 20,240 shares of the software maker’s stock valued at $4,184,000 after buying an additional 79 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Paycom Software by 11.9% in the first quarter. Rhumbline Advisers now owns 102,936 shares of the software maker’s stock valued at $22,489,000 after buying an additional 10,908 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PAYC. Barclays increased their price target on Paycom Software from $221.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. upped their price objective on Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Piper Sandler upped their target price on Paycom Software from $224.00 to $246.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Wall Street Zen downgraded Paycom Software from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Finally, KeyCorp increased their price objective on Paycom Software from $245.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.