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 company's stock in a transaction on Monday, October 21st. The shares were sold at an average price of $169.17, for a total value of $329,881.50. Following the completion of the sale, the chief executive officer now owns 2,764,560 shares in the company, valued at $467,680,615.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Paycom Software Trading Down 0.8 %

Shares of PAYC traded down $1.42 during trading hours on Tuesday, hitting $166.40. 409,393 shares of the stock traded hands, compared to its average volume of 814,606. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $264.70. The firm has a market capitalization of $9.67 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 2.33 and a beta of 1.17. The business has a fifty day moving average of $164.48 and a 200-day moving average of $164.38.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.07. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. The business had revenue of $437.51 million for the quarter, compared to analyst estimates of $436.19 million. As a group, equities research analysts expect that Paycom Software, Inc. will post 6.67 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.90%. The ex-dividend date was Monday, August 26th. Paycom Software's payout ratio is 18.27%.

Analysts Set New Price Targets

A number of analysts have weighed in on PAYC shares. Barclays upped their price target on Paycom Software from $167.00 to $172.00 and gave the company an "equal weight" rating in a research report on Friday, October 11th. StockNews.com cut Paycom Software from a "buy" rating to a "hold" rating in a report on Monday, July 15th. Jefferies Financial Group increased their target price on Paycom Software from $155.00 to $170.00 and gave the stock a "hold" rating in a report on Tuesday. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a report on Thursday, August 1st. Finally, TD Cowen increased their target price on Paycom Software from $171.00 to $188.00 and gave the stock a "hold" rating in a report on Monday, September 23rd. Seventeen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $182.25.

Hedge Funds Weigh In On Paycom Software

Several hedge funds have recently added to or reduced their stakes in the stock. Empirical Finance LLC raised its position in shares of Paycom Software by 3.9% during the first quarter. Empirical Finance LLC now owns 1,580 shares of the software maker's stock worth $314,000 after purchasing an additional 60 shares during the period. Optas LLC raised its position in shares of Paycom Software by 6.1% during the first quarter. Optas LLC now owns 1,059 shares of the software maker's stock worth $211,000 after purchasing an additional 61 shares during the period. Davis Investment Partners LLC raised its position in shares of Paycom Software by 1.0% during the third quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker's stock worth $1,067,000 after purchasing an additional 64 shares during the period. Andina Capital Management LLC raised its position in shares of Paycom Software by 4.5% during the second quarter. Andina Capital Management LLC now owns 1,588 shares of the software maker's stock worth $227,000 after purchasing an additional 68 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Paycom Software by 26.7% during the third quarter. GAMMA Investing LLC now owns 323 shares of the software maker's stock worth $54,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 87.77% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.