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

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $168.27, for a total transaction of $328,126.50. Following the completion of the sale, the chief executive officer now owns 2,797,260 shares of the company’s stock, valued at $470,694,940.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Paycom Software Trading Up 0.3 %

PAYC opened at $166.73 on Thursday. The stock’s 50 day simple moving average is $163.58 and its 200-day simple moving average is $167.34. The stock has a market cap of $9.58 billion, a PE ratio of 20.31, a P/E/G ratio of 2.37 and a beta of 1.17. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $279.96.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, July 31st. The software maker reported $1.20 EPS 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 analysts’ expectations of $436.19 million. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. Equities analysts forecast that Paycom Software, Inc. will post 6.67 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were given a $0.375 dividend. The ex-dividend date was Monday, August 26th. This represents a $1.50 annualized dividend and a yield of 0.90%. Paycom Software’s dividend payout ratio (DPR) is currently 18.27%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cascade Investment Advisors Inc. lifted its position in Paycom Software by 11.6% in the third quarter. Cascade Investment Advisors Inc. now owns 7,354 shares of the software maker’s stock worth $1,225,000 after purchasing an additional 764 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Paycom Software in the 2nd quarter valued at $856,000. KPP Advisory Services LLC boosted its stake in shares of Paycom Software by 31.5% in the 2nd quarter. KPP Advisory Services LLC now owns 3,482 shares of the software maker’s stock valued at $498,000 after purchasing an additional 834 shares in the last quarter. Aurora Investment Counsel boosted its stake in shares of Paycom Software by 7.0% in the 2nd quarter. Aurora Investment Counsel now owns 13,209 shares of the software maker’s stock valued at $1,889,000 after purchasing an additional 865 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of Paycom Software by 49.0% in the 2nd quarter. Cetera Investment Advisers now owns 26,878 shares of the software maker’s stock valued at $3,845,000 after purchasing an additional 8,836 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on PAYC shares. Jefferies Financial Group decreased their price target on Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Citigroup decreased their target price on Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Barclays lifted their price target on shares of Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Seventeen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $179.75.

About Paycom Software

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.