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

by · 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 that occurred on Wednesday, October 30th. The shares were sold at an average price of $172.43, for a total transaction of $336,238.50. Following the completion of the sale, the chief executive officer now owns 2,750,910 shares of the company’s stock, valued at approximately $474,339,411.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Paycom Software Trading Up 21.4 %

PAYC traded up $36.78 on Thursday, reaching $209.03. The stock had a trading volume of 2,554,578 shares, compared to its average volume of 817,218. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $247.42. The business’s 50-day moving average price is $165.64 and its two-hundred day moving average price is $162.91. The company has a market cap of $12.00 billion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 2.34 and a beta of 1.17.

Paycom Software (NYSE:PAYC – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The software maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. Paycom Software had a net margin of 26.55% and a return on equity of 33.36%. The company had revenue of $437.51 million during the quarter, compared to analysts’ expectations of $436.19 million. As a group, analysts predict that Paycom Software, Inc. will post 6.64 earnings per share for the current year.

Paycom Software Announces Dividend

The company also recently disclosed 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 of this dividend is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.72%. Paycom Software’s payout ratio is 18.07%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empirical Finance LLC grew its position in shares of Paycom Software by 3.9% in the first quarter. Empirical Finance LLC now owns 1,580 shares of the software maker’s stock valued at $314,000 after purchasing an additional 60 shares during the period. Andina Capital Management LLC grew its position in shares of Paycom Software by 4.0% in the third quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock valued at $275,000 after purchasing an additional 63 shares during the period. Davis Investment Partners LLC grew its position in shares of Paycom Software by 1.0% in the third quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock valued at $1,067,000 after purchasing an additional 64 shares during the period. GAMMA Investing LLC grew its position in shares of Paycom Software by 26.7% in the third quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock valued at $54,000 after purchasing an additional 68 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Paycom Software by 1.7% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,624 shares of the software maker’s stock valued at $661,000 after purchasing an additional 79 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PAYC shares. BMO Capital Markets raised their target price on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday. Barclays raised their price target on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday. Piper Sandler raised their price target on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday. TD Cowen raised their price target on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Finally, Jefferies Financial Group raised their price target on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday. Seventeen analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Paycom Software currently has an average rating of “Hold” and a consensus target price of $186.92.

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About Paycom Software

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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.

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