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

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $159.79, for a total value of $311,590.50. Following the completion of the sale, the chief executive officer now directly owns 2,969,108 shares of the company’s stock, valued at approximately $474,433,767.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Paycom Software Price Performance

NYSE PAYC opened at $158.55 on Wednesday. The business’s fifty day moving average is $152.09 and its 200-day moving average is $171.82. The stock has a market capitalization of $9.21 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 2.15 and a beta of 1.16. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $299.00.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 9th. Shareholders of record on Monday, August 26th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Monday, August 26th. Paycom Software’s dividend payout ratio is 18.27%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PAYC. Mather Group LLC. purchased a new position in Paycom Software in the first quarter valued at approximately $26,000. Hexagon Capital Partners LLC raised its stake in shares of Paycom Software by 333.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock valued at $27,000 after buying an additional 100 shares during the period. Palisade Asset Management LLC purchased a new position in shares of Paycom Software during the 1st quarter valued at $32,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Paycom Software during the 2nd quarter worth $25,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Paycom Software in the 2nd quarter worth about $26,000. 87.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PAYC shares. Mizuho reduced their price target on shares of Paycom Software from $185.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. TD Cowen lifted their price objective on shares of Paycom Software from $147.00 to $171.00 and gave the company a “hold” rating in a report on Thursday, August 1st. BMO Capital Markets lowered their target price on shares of Paycom Software from $200.00 to $190.00 and set a “market perform” rating on the stock in a report on Thursday, May 2nd. Jefferies Financial Group dropped their price target on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Finally, JPMorgan Chase & Co. boosted their price objective on Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Seventeen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $178.33.

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.