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

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $226.55, for a total value of $441,772.50. Following the transaction, the chief executive officer now directly owns 2,737,260 shares in the company, valued at $620,126,253. The trade was a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Paycom Software Stock Performance

Shares of PAYC opened at $224.62 on Friday. The firm has a market capitalization of $12.95 billion, a P/E ratio of 27.03, a P/E/G ratio of 3.05 and a beta of 1.14. The stock has a 50 day moving average price of $177.57 and a two-hundred day moving average price of $165.32. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $233.69.

Paycom Software Dividend Announcement

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

Hedge Funds Weigh In On Paycom Software

Several institutional investors have recently modified their holdings of PAYC. Forsta AP Fonden purchased a new position in Paycom Software in the first quarter valued at approximately $2,408,000. Sei Investments Co. lifted its stake in Paycom Software by 68.4% in the first quarter. Sei Investments Co. now owns 165,340 shares of the software maker’s stock valued at $32,904,000 after purchasing an additional 67,163 shares during the last quarter. Headlands Technologies LLC lifted its stake in Paycom Software by 107.8% in the first quarter. Headlands Technologies LLC now owns 663 shares of the software maker’s stock valued at $132,000 after purchasing an additional 344 shares during the last quarter. QRG Capital Management Inc. lifted its stake in Paycom Software by 13.3% in the first quarter. QRG Capital Management Inc. now owns 2,225 shares of the software maker’s stock valued at $443,000 after purchasing an additional 261 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Paycom Software by 66.1% in the first quarter. Russell Investments Group Ltd. now owns 53,051 shares of the software maker’s stock valued at $10,552,000 after purchasing an additional 21,108 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Citigroup boosted their price objective on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Mizuho boosted their target price on Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. BMO Capital Markets boosted their target price on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Piper Sandler boosted their target price 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, Barclays boosted their target price on Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Paycom Software currently has an average rating of “Hold” and an average 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.