Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison Sells 1,950 Shares

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Monday, November 11th. The stock was sold at an average price of $228.38, for a total transaction of $445,341.00. Following the sale, the chief executive officer now directly owns 2,735,310 shares of the company’s stock, valued at $624,690,097.80. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Paycom Software Trading Down 1.4 %

Shares of NYSE:PAYC opened at $224.62 on Friday. The company has a market cap of $12.95 billion, a price-to-earnings ratio of 27.03, a price-to-earnings-growth ratio of 3.05 and a beta of 1.14. The company has a 50-day moving average price of $177.57 and a 200-day moving average price of $165.32. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $233.69.

Paycom Software Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is 18.05%.

Hedge Funds Weigh In On Paycom Software

Several hedge funds and other institutional investors have recently modified their holdings of the company. Forsta AP Fonden bought a new position in Paycom Software in the first quarter worth about $2,408,000. Sei Investments Co. boosted its holdings in Paycom Software by 68.4% in the first quarter. Sei Investments Co. now owns 165,340 shares of the software maker’s stock worth $32,904,000 after purchasing an additional 67,163 shares during the last quarter. Headlands Technologies LLC boosted its holdings in Paycom Software by 107.8% in the first quarter. Headlands Technologies LLC now owns 663 shares of the software maker’s stock worth $132,000 after purchasing an additional 344 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in Paycom Software by 13.3% in the first quarter. QRG Capital Management Inc. now owns 2,225 shares of the software maker’s stock worth $443,000 after purchasing an additional 261 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Paycom Software by 66.1% in the first quarter. Russell Investments Group Ltd. now owns 53,051 shares of the software maker’s stock worth $10,552,000 after purchasing an additional 21,108 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. TD Cowen lifted their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Citigroup lifted their target price on shares of Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Mizuho lifted their target price on shares of Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Finally, Piper Sandler lifted their target price on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Twelve equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Paycom Software has a consensus rating of “Hold” and a consensus price target of $193.67.

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.