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 the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $229.09, for a total value of $446,725.50. Following the completion of the transaction, the chief executive officer now owns 2,731,410 shares in the company, valued at approximately $625,738,716.90. The trade was a 0.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Paycom Software Trading Down 2.1 %

PAYC opened at $219.88 on Friday. The company has a market cap of $12.68 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 3.05 and a beta of 1.14. The stock has a fifty day simple moving average of $178.94 and a two-hundred day simple moving average of $165.73. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $233.69.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be paid a $0.375 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.68%. Paycom Software’s dividend payout ratio is presently 18.05%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PAYC. Nisa Investment Advisors LLC boosted its stake in shares of Paycom Software by 51.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker’s stock worth $444,000 after acquiring an additional 905 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Paycom Software by 29.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock worth $12,848,000 after buying an additional 14,670 shares during the period. Sylebra Capital LLC purchased a new stake in Paycom Software in the 1st quarter worth $253,196,000. Profund Advisors LLC purchased a new position in shares of Paycom Software in the second quarter valued at about $589,000. Finally, BOKF NA lifted its holdings in Paycom Software by 453.0% in the 1st quarter. BOKF NA now owns 9,219 shares of the software maker’s stock worth $1,828,000 after purchasing an additional 7,552 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PAYC. Mizuho increased their price objective on Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Jefferies Financial Group increased their price target on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. TD Cowen lifted their price objective 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. Barclays upped their target price on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Finally, Piper Sandler boosted 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, October 31st. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Paycom Software presently has a consensus rating of “Hold” and an average target price of $193.67.

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.