Insider Selling: Paycom Software, Inc. (NYSE:PAYC) CEO Sells 1,950 Shares of Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $216.60, for a total transaction of $422,370.00. Following the sale, the chief executive officer now owns 2,743,110 shares of the company’s stock, valued at approximately $594,157,626. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Paycom Software Stock Performance

Shares of NYSE:PAYC traded up $12.55 during trading on Wednesday, hitting $231.09. The company’s stock had a trading volume of 1,299,580 shares, compared to its average volume of 822,076. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $233.69. The company has a market capitalization of $13.32 billion, a PE ratio of 27.82, a PEG ratio of 2.92 and a beta of 1.14. The stock’s 50-day moving average price is $169.61 and its two-hundred day moving average price is $163.43.

Paycom Software Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on PAYC. Jefferies Financial Group increased their target price on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. BMO Capital Markets boosted their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Citigroup upped their price objective on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Barclays increased their price target on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $193.67.

Hedge Funds Weigh In On Paycom Software

A number of hedge funds have recently bought and sold shares of the company. Norden Group LLC increased its holdings in shares of Paycom Software by 13.6% in the 1st quarter. Norden Group LLC now owns 3,220 shares of the software maker’s stock valued at $641,000 after acquiring an additional 385 shares during the last quarter. Private Advisor Group LLC boosted its stake in Paycom Software by 10.9% in the 1st quarter. Private Advisor Group LLC now owns 2,796 shares of the software maker’s stock worth $556,000 after purchasing an additional 274 shares during the period. Chevy Chase Trust Holdings LLC grew its stake in Paycom Software by 1.2% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 28,055 shares of the software maker’s stock valued at $5,583,000 after acquiring an additional 338 shares in the last quarter. FDx Advisors Inc. increased its stake in shares of Paycom Software by 15.6% in the first quarter. FDx Advisors Inc. now owns 3,310 shares of the software maker’s stock worth $659,000 after acquiring an additional 446 shares during the last quarter. Finally, Empirical Finance LLC raised its position in Paycom Software by 3.9% during the first quarter. Empirical Finance LLC now owns 1,580 shares of the software maker’s stock valued at $314,000 after acquiring an additional 60 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

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.