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

18 Sep 2024, 09:46 by Michael Walen · The Markets Daily

Paycom Software, Inc. (NYSE:PAYC – Get Free Report) CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $170.27, for a total value of $332,026.50. Following the transaction, the chief executive officer now owns 2,932,058 shares in the company, valued at $499,241,515.66. The sale was disclosed in a document filed with the SEC, which is available at this link.

Paycom Software Stock Performance

Shares of Paycom Software stock opened at $169.04 on Wednesday. The stock has a market capitalization of $9.82 billion, a P/E ratio of 20.59, a P/E/G ratio of 2.37 and a beta of 1.17. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $279.96. The stock’s 50-day simple moving average is $160.48 and its 200 day simple moving average is $168.28.

Paycom Software (NYSE:PAYC – Get Free Report) last posted its earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.07. The firm had revenue of $437.51 million during the quarter, compared to the consensus estimate of $436.19 million. Paycom Software had a net margin of 26.55% and a return on equity of 33.36%. Equities research analysts forecast that Paycom Software, Inc. will post 6.67 EPS for the current fiscal year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.50 annualized dividend and a dividend yield of 0.89%. Paycom Software’s dividend payout ratio is currently 18.27%.

Hedge Funds Weigh In On Paycom Software

A number of large investors have recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC bought a new stake in shares of Paycom Software during the 2nd quarter valued at $25,000. Mather Group LLC. purchased a new stake in shares of Paycom Software during the 1st quarter valued at $26,000. MFA Wealth Advisors LLC bought a new stake in shares of Paycom Software during the 2nd quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Paycom Software in the second quarter worth $27,000. Finally, Palisade Asset Management LLC bought a new position in Paycom Software in the first quarter valued at $32,000. 87.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PAYC. Citigroup dropped their price target on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 18th. TD Cowen boosted their target price on Paycom Software from $147.00 to $171.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Jefferies Financial Group dropped their price target on Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Barclays upped their price objective on Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Seventeen 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, Paycom Software presently has an average rating of “Hold” and a consensus price target of $178.33.

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Paycom Software Company Profile

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