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 dated Monday, November 11th. The stock was sold at an average price of $228.38, for a total transaction of $445,341.00. Following the completion of the transaction, the chief executive officer now owns 2,735,310 shares of the company’s stock, valued at approximately $624,690,097.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $227.80 on Thursday. The business has a 50-day simple moving average of $176.21 and a two-hundred day simple moving average of $164.88. The firm has a market cap of $13.13 billion, a price-to-earnings ratio of 27.41, a price-to-earnings-growth ratio of 3.06 and a beta of 1.14. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $233.69.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be given a dividend of $0.375 per share. The ex-dividend date is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.66%. Paycom Software’s dividend payout ratio (DPR) is 18.05%.

Analyst Ratings Changes

A number of brokerages have weighed in on PAYC. BMO Capital Markets raised their target price on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Barclays raised their price objective on Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Piper Sandler boosted their target price on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. TD Cowen raised their price target on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Finally, Mizuho upped their price target on shares of Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $193.67.

Institutional Investors Weigh In On Paycom Software

A number of large investors have recently added to or reduced their stakes in the stock. Sylebra Capital LLC purchased a new position in shares of Paycom Software in the 1st quarter worth $253,196,000. Federated Hermes Inc. boosted its position in Paycom Software by 1,011.2% in the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock worth $83,244,000 after purchasing an additional 529,591 shares during the last quarter. FMR LLC grew its stake in shares of Paycom Software by 55.0% during the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock valued at $167,889,000 after purchasing an additional 357,723 shares during the period. International Assets Investment Management LLC increased its position in shares of Paycom Software by 9,997.5% during the 3rd quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock valued at $46,859,000 after purchasing an additional 278,529 shares during the last quarter. Finally, Confluence Investment Management LLC lifted its stake in shares of Paycom Software by 147.3% in the 3rd quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock worth $62,943,000 after purchasing an additional 225,081 shares during the period. Institutional investors own 87.77% of the company’s stock.

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.