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

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $229.09, for a total value of $446,725.50. Following the completion of the sale, the chief executive officer now owns 2,731,410 shares of the company’s stock, valued at $625,738,716.90. The trade was a 0.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Paycom Software Stock Down 0.6 %

Shares of Paycom Software stock traded down $1.24 during trading on Friday, reaching $223.43. The company’s stock had a trading volume of 39,739 shares, compared to its average volume of 810,419. The company has a market capitalization of $12.88 billion, a P/E ratio of 27.03, a price-to-earnings-growth ratio of 3.05 and a beta of 1.14. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $233.69. The business has a 50 day moving average price of $177.57 and a 200-day moving average price of $165.32.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be issued a $0.375 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.67%. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Institutional Investors Weigh In On Paycom Software

Several institutional investors have recently modified their holdings of PAYC. Sylebra Capital LLC acquired a new stake in Paycom Software during the first quarter worth approximately $253,196,000. Federated Hermes Inc. increased its stake in Paycom Software by 1,011.2% in the second 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 last quarter. FMR LLC lifted its position in Paycom Software by 55.0% during the third quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after buying an additional 357,723 shares during the period. International Assets Investment Management LLC lifted its position in Paycom Software by 9,997.5% during the third quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock worth $46,859,000 after buying an additional 278,529 shares during the period. Finally, Confluence Investment Management LLC boosted its stake in Paycom Software by 147.3% in the 3rd quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock worth $62,943,000 after buying an additional 225,081 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. BMO Capital Markets raised their price target on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Jefferies Financial Group lifted their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Piper Sandler boosted their price objective on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Citigroup upped their price target on shares of Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $193.67.

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.