Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison Sells 1,950 Shares

Paycom Software, Inc. (NYSE:PAYC - Get Free Report) CEO Chad R. Richison sold 1,950 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $162.27, for a total transaction of $316,426.50. Following the completion of the transaction, the chief executive officer now directly owns 2,961,308 shares in the company, valued at $480,531,449.16. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Paycom Software Stock Up 1.1 %

Paycom Software stock traded up $1.75 during mid-day trading on Monday, reaching $164.61. 447,157 shares of the company's stock were exchanged, compared to its average volume of 847,711. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $299.00. The company has a market cap of $9.57 billion, a P/E ratio of 20.05, a P/E/G ratio of 2.22 and a beta of 1.16. The company has a fifty day moving average of $153.65 and a 200-day moving average of $170.85.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 9th. Shareholders of record on Monday, August 26th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis 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

Institutional investors have recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new position in shares of Paycom Software in the 1st quarter valued at $26,000. Hexagon Capital Partners LLC lifted its position in Paycom Software by 333.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker's stock valued at $27,000 after acquiring an additional 100 shares during the last quarter. Palisade Asset Management LLC acquired a new position in Paycom Software in the first quarter valued at $32,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Paycom Software during the second quarter worth about $25,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Paycom Software during the second quarter worth about $26,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on PAYC. BMO Capital Markets lowered their price target on shares of Paycom Software from $200.00 to $190.00 and set a "market perform" rating on the stock in a research report on Thursday, May 2nd. Barclays raised their price target on shares of Paycom Software from $161.00 to $167.00 and gave the stock an "equal weight" rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upped their price objective on Paycom Software from $165.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday, May 2nd. William Blair reissued a "market perform" rating on shares of Paycom Software in a research note on Thursday, May 2nd. Finally, Jefferies Financial Group decreased their price target on Paycom Software from $170.00 to $145.00 and set a "hold" rating on the stock in a research note on Monday, June 24th. Seventeen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $178.33.

Paycom Software Company Profile

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.