Insider Selling: Paycom Software, Inc. (NYSE:PAYC) Insider Sells 3,000 Shares of Stock

Paycom Software, Inc. (NYSE:PAYC) insider Bradley Scott Smith sold 3,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $201.01, for a total transaction of $603,030.00. Following the completion of the transaction, the insider now owns 28,733 shares in the company, valued at $5,775,620.33. This trade represents a 9.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Paycom Software Trading Up 0.3 %

Shares of PAYC stock opened at $217.71 on Thursday. The firm has a market capitalization of $12.47 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 2.40 and a beta of 1.14. The business’s 50-day moving average price is $209.87 and its 200-day moving average price is $200.65. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $242.74.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, topping the consensus estimate of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. On average, sell-side analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be issued a $0.375 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.50 dividend on an annualized basis and a yield of 0.69%. Paycom Software’s payout ratio is 16.85%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in shares of Paycom Software by 14.5% during the third quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock worth $54,305,000 after acquiring an additional 41,187 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Paycom Software by 9.3% during the 3rd quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock worth $10,962,000 after purchasing an additional 5,574 shares during the last quarter. FMR LLC lifted its position in shares of Paycom Software by 55.0% in the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after purchasing an additional 357,723 shares during the period. Nordea Investment Management AB lifted its position in shares of Paycom Software by 3.5% in the 4th quarter. Nordea Investment Management AB now owns 204,377 shares of the software maker’s stock worth $41,952,000 after purchasing an additional 6,916 shares during the period. Finally, Friedenthal Financial bought a new stake in shares of Paycom Software in the 4th quarter valued at $776,000. 87.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PAYC. KeyCorp upgraded shares of Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 target price on the stock in a research report on Monday, March 10th. Citigroup lowered their price objective on Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research report on Thursday, February 13th. Stifel Nicolaus decreased their price target on Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. Finally, Piper Sandler upped their price objective on shares of Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $212.80.

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.