Chad R. Richison Sells 23,200 Shares of Paycom Software, Inc. (NYSE:PAYC) Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 23,200 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $265.20, for a total transaction of $6,152,640.00. Following the sale, the chief executive officer now owns 3,224,049 shares in the company, valued at $855,017,794.80. This represents a 0.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Paycom Software Stock Up 0.7%

Shares of Paycom Software stock opened at $265.69 on Monday. The stock has a market capitalization of $15.37 billion, a P/E ratio of 29.85, a price-to-earnings-growth ratio of 2.40 and a beta of 0.81. The company has a 50-day simple moving average of $235.57 and a 200 day simple moving average of $222.20. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $267.76.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.18. The business had revenue of $530.50 million during the quarter, compared to analysts’ expectations of $522.92 million. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $2.59 EPS. On average, equities analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.56%. The ex-dividend date is Tuesday, May 27th. Paycom Software’s payout ratio is presently 21.40%.

Analysts Set New Price Targets

Several research analysts have weighed in on PAYC shares. Stifel Nicolaus upped their price objective on shares of Paycom Software from $187.00 to $215.00 and gave the company a “hold” rating in a research note on Thursday, May 8th. KeyCorp boosted their target price on shares of Paycom Software from $245.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, May 8th. Wall Street Zen downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Finally, Piper Sandler increased their price target on shares of Paycom Software from $224.00 to $246.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $226.90.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Glass Jacobson Investment Advisors llc boosted its stake in shares of Paycom Software by 746.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker’s stock valued at $26,000 after purchasing an additional 112 shares during the last quarter. von Borstel & Associates Inc. acquired a new stake in shares of Paycom Software in the first quarter valued at approximately $27,000. SouthState Corp bought a new stake in shares of Paycom Software in the first quarter worth $27,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Paycom Software in the fourth quarter worth $30,000. Finally, Golden State Wealth Management LLC boosted its position in Paycom Software by 112.3% during the first quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker’s stock valued at $30,000 after purchasing an additional 73 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

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.