Insider Selling: Paycom Software, Inc. (NYSE:PAYC) CEO Sells 1,950 Shares of Stock

Paycom Software, Inc. (NYSE:PAYC - Get Free Report) CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $155.63, for a total value of $303,478.50. Following the completion of the transaction, the chief executive officer now owns 2,978,858 shares of the company's stock, valued at $463,599,670.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Paycom Software Trading Up 1.9 %

PAYC stock traded up $2.94 during trading on Tuesday, hitting $156.65. 707,017 shares of the stock traded hands, compared to its average volume of 860,831. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $299.00. The stock has a market cap of $9.10 billion, a price-to-earnings ratio of 19.08, a P/E/G ratio of 2.20 and a beta of 1.16. The company has a 50 day simple moving average of $150.53 and a 200 day simple moving average of $173.33.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Monday, August 26th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Monday, August 26th. This represents a $1.50 dividend on an annualized basis and a yield of 0.96%. Paycom Software's dividend payout ratio (DPR) is presently 18.27%.

Analyst Ratings Changes

PAYC has been the topic of several analyst reports. Barclays lifted their price objective on Paycom Software from $161.00 to $167.00 and gave the stock an "equal weight" rating in a report on Thursday, August 1st. BMO Capital Markets cut their target price on Paycom Software from $200.00 to $190.00 and set a "market perform" rating for the company in a research report on Thursday, May 2nd. Citigroup lowered their price objective on Paycom Software from $193.00 to $162.00 and set a "neutral" rating for the company in a research note on Tuesday, June 18th. Mizuho decreased their price target 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. Finally, StockNews.com downgraded Paycom Software from a "buy" rating to a "hold" rating in a report on Monday, July 15th. Seventeen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $178.33.

Institutional Trading of Paycom Software

Several hedge funds have recently bought and sold shares of the business. Sylebra Capital LLC purchased a new position in shares of Paycom Software during the first quarter worth about $253,196,000. ValueAct Holdings L.P. bought a new stake in shares of Paycom Software during the 4th quarter valued at about $125,686,000. Federated Hermes Inc. grew its stake in shares of Paycom Software by 1,011.2% during the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker's stock valued at $83,244,000 after purchasing an additional 529,591 shares during the period. Raymond James & Associates lifted its position in shares of Paycom Software by 769.2% during the 2nd quarter. Raymond James & Associates now owns 201,366 shares of the software maker's stock valued at $28,803,000 after buying an additional 178,198 shares in the last quarter. Finally, Strategic Financial Concepts LLC lifted its holdings in Paycom Software by 12,268.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 169,202 shares of the software maker's stock worth $242,000 after purchasing an additional 167,834 shares in the last quarter. 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.