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 stock was sold at an average price of $265.20, for a total value of $6,152,640.00. Following the transaction, the chief executive officer now owns 3,224,049 shares of the company's stock, valued at approximately $855,017,794.80. This represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Paycom Software Stock Performance

Shares of PAYC opened at $265.69 on Friday. The stock has a 50-day simple moving average of $234.68 and a 200-day simple moving average of $221.85. The stock has a market capitalization of $15.37 billion, a PE ratio of 29.85, a PEG ratio of 2.40 and a beta of 0.80. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $267.76.

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, topping the consensus estimate of $2.62 by $0.18. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The business had revenue of $530.50 million for the quarter, compared to analyst estimates of $522.92 million. During the same quarter last year, the company earned $2.59 EPS. The business's quarterly revenue was up 6.1% on a year-over-year basis. Analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Tuesday, May 27th. Paycom Software's dividend payout ratio (DPR) is presently 21.40%.

Analyst Ratings Changes

PAYC has been the subject of a number of research analyst reports. Piper Sandler raised their target price on Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Wall Street Zen cut Paycom Software from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Stifel Nicolaus raised their target price on Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a report on Thursday, May 8th. BMO Capital Markets raised their target price on Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Paycom Software from $185.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $226.90.

Institutional Investors Weigh In On Paycom Software

Several hedge funds and other institutional investors have recently made changes to their positions in PAYC. Brighton Jones LLC acquired a new stake in shares of Paycom Software during the 4th quarter worth about $638,000. Blue Trust Inc. raised its position in shares of Paycom Software by 33.3% during the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker's stock worth $72,000 after acquiring an additional 88 shares in the last quarter. Greenleaf Trust acquired a new position in Paycom Software during the fourth quarter worth approximately $235,000. Yousif Capital Management LLC increased its position in Paycom Software by 24.1% during the fourth quarter. Yousif Capital Management LLC now owns 7,995 shares of the software maker's stock worth $1,639,000 after buying an additional 1,555 shares during the period. Finally, Choreo LLC increased its position in Paycom Software by 101.2% during the fourth quarter. Choreo LLC now owns 2,937 shares of the software maker's stock worth $600,000 after buying an additional 1,477 shares during the period. Institutional investors and hedge funds own 87.77% of the company's stock.

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.

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