Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison Sells 23,200 Shares

Paycom Software, Inc. (NYSE:PAYC - Get Free Report) CEO Chad R. Richison sold 23,200 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $265.20, for a total value of $6,152,640.00. Following the sale, the chief executive officer now owns 3,224,049 shares of the company's stock, valued at $855,017,794.80. This trade represents a 0.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Paycom Software Trading Down 1.7%

PAYC stock traded down $4.39 during midday trading on Tuesday, hitting $254.06. The stock had a trading volume of 501,538 shares, compared to its average volume of 676,619. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $267.76. The stock has a 50-day simple moving average of $236.37 and a 200 day simple moving average of $222.37. The firm has a market capitalization of $14.70 billion, a price-to-earnings ratio of 28.55, a P/E/G ratio of 2.40 and a beta of 0.81.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.18. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The business had revenue of $530.50 million for the quarter, compared to analyst estimates of $522.92 million. During the same period in the previous year, the business earned $2.59 EPS. The firm's revenue was up 6.1% on a year-over-year basis. On average, equities analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were paid a $0.375 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.50 annualized dividend and a dividend yield of 0.59%. Paycom Software's dividend payout ratio is currently 21.40%.

Analyst Ratings Changes

PAYC has been the topic of several recent analyst reports. Stifel Nicolaus boosted their price objective on Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Wall Street Zen lowered shares of Paycom Software from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. BMO Capital Markets upped their price target on shares of Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. raised their price objective on shares of Paycom Software from $185.00 to $200.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Finally, KeyCorp lifted their price target on Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $226.90.

Hedge Funds Weigh In On Paycom Software

A number of hedge funds have recently modified their holdings of PAYC. Inspire Investing LLC acquired a new position in Paycom Software during the first quarter worth $2,202,000. Strs Ohio bought a new position in Paycom Software during the 1st quarter valued at about $728,000. GK Wealth Management LLC bought a new position in Paycom Software during the 1st quarter valued at about $599,000. Acadian Asset Management LLC boosted its position in Paycom Software by 69.7% in the first quarter. Acadian Asset Management LLC now owns 16,965 shares of the software maker's stock valued at $3,703,000 after buying an additional 6,966 shares in the last quarter. Finally, Focus Partners Wealth grew its stake in Paycom Software by 220.8% during the first quarter. Focus Partners Wealth now owns 3,940 shares of the software maker's stock worth $861,000 after buying an additional 2,712 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

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.