Paycom Software (NYSE:PAYC) Insider Sells $334,905.00 in Stock

Key Points

• Insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock for a total of $334,905, reducing their ownership by 5.76% to 24,533 shares.
• Paycom Software's stock price fell 2.1% to $213.65, with a 1-year range between $158.03 and $267.76, while the firm has a market capitalization of $12.37 billion.
• The company recently reported strong quarterly earnings of $2.06 EPS, exceeding expectations, with revenue growth of 10.5% compared to the same period last year.

Paycom Software, Inc. (NYSE:PAYC - Get Free Report) insider Bradley Scott Smith sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $223.27, for a total transaction of $334,905.00. Following the completion of the sale, the insider owned 24,533 shares of the company's stock, valued at approximately $5,477,482.91. This trade represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Paycom Software Trading Down 0.1%

Shares of PAYC stock traded down $0.23 during trading hours on Friday, reaching $216.32. 1,660,400 shares of the company's stock were exchanged, compared to its average volume of 558,613. Paycom Software, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $267.76. The stock's 50 day moving average is $225.68 and its 200-day moving average is $229.55. The company has a market cap of $12.52 billion, a price-to-earnings ratio of 29.27, a P/E/G ratio of 2.38 and a beta of 0.81.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.28. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The firm had revenue of $483.60 million for the quarter, compared to the consensus estimate of $472.00 million. During the same period in the previous year, the business earned $1.62 EPS. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. Equities analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 25th were paid a dividend of $0.375 per share. The ex-dividend date was Monday, August 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. Paycom Software's payout ratio is presently 20.30%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PAYC. SouthState Corp acquired a new stake in Paycom Software during the 1st quarter worth about $27,000. von Borstel & Associates Inc. purchased a new stake in shares of Paycom Software in the first quarter worth about $27,000. CYBER HORNET ETFs LLC acquired a new stake in Paycom Software during the second quarter worth about $29,000. Golden State Wealth Management LLC grew its holdings in Paycom Software by 112.3% during the first quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker's stock worth $30,000 after acquiring an additional 73 shares during the period. Finally, MUFG Securities EMEA plc purchased a new position in Paycom Software during the second quarter valued at approximately $33,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PAYC shares. Cantor Fitzgerald raised shares of Paycom Software to a "hold" rating in a research report on Thursday, September 11th. UBS Group decreased their price target on shares of Paycom Software from $310.00 to $285.00 and set a "buy" rating for the company in a report on Wednesday. KeyCorp lifted their price objective on shares of Paycom Software from $285.00 to $290.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Barclays upped their target price on Paycom Software from $240.00 to $250.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. lifted their price target on Paycom Software from $215.00 to $235.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $238.58.

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.