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 the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $162.27, for a total transaction of $316,426.50. Following the sale, the chief executive officer now owns 2,961,308 shares in the company, valued at $480,531,449.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Paycom Software Stock Performance

PAYC stock opened at $164.61 on Tuesday. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $299.00. The company has a market capitalization of $9.57 billion, a P/E ratio of 20.05, a PEG ratio of 2.22 and a beta of 1.16. The company has a fifty day moving average price of $153.65 and a 200-day moving average price of $170.85.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Monday, August 26th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.91%. The ex-dividend date is Monday, August 26th. Paycom Software’s dividend payout ratio is currently 18.27%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PAYC. Mather Group LLC. bought a new position in shares of Paycom Software during the first quarter worth about $26,000. Hexagon Capital Partners LLC raised its holdings in Paycom Software by 333.3% during the 4th quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Palisade Asset Management LLC acquired a new position in shares of Paycom Software in the 1st quarter worth approximately $32,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Paycom Software in the 2nd quarter valued at $25,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Paycom Software in the 2nd quarter valued at $26,000. 87.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PAYC has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Citigroup reduced their target price on Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. Jefferies Financial Group lowered their price target on Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a report on Monday, June 24th. StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Finally, Mizuho lowered their target price on Paycom Software from $185.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Seventeen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $178.33.

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.