Paycom Software, Inc. (NYSE:PAYC) CEO Sells $6,152,640.00 in Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 23,200 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 3,224,049 shares in the company, valued at approximately $855,017,794.80. This trade represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Paycom Software Stock Performance

NYSE:PAYC opened at $258.48 on Tuesday. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $267.76. The stock has a market capitalization of $14.95 billion, a price-to-earnings ratio of 29.04, a PEG ratio of 2.40 and a beta of 0.81. The stock has a fifty day moving average price of $235.57 and a two-hundred day moving average price of $222.17.

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

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Tuesday, May 27th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Tuesday, May 27th. Paycom Software’s payout ratio is currently 21.40%.

Institutional Trading of Paycom Software

Large investors have recently made changes to their positions in the stock. Inspire Investing LLC purchased a new stake in Paycom Software in the 1st quarter valued at about $2,202,000. Strs Ohio purchased a new stake in Paycom Software during the 1st quarter worth approximately $728,000. GK Wealth Management LLC purchased a new stake in Paycom Software during the 1st quarter worth approximately $599,000. Acadian Asset Management LLC increased its holdings in Paycom Software by 69.7% during the 1st quarter. Acadian Asset Management LLC now owns 16,965 shares of the software maker’s stock worth $3,703,000 after purchasing an additional 6,966 shares during the last quarter. Finally, Focus Partners Wealth increased its holdings in shares of Paycom Software by 220.8% in the 1st quarter. Focus Partners Wealth now owns 3,940 shares of the software maker’s stock valued at $861,000 after acquiring an additional 2,712 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Stifel Nicolaus boosted their price objective on Paycom Software from $187.00 to $215.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a report on Thursday, May 8th. BMO Capital Markets increased their price objective on Paycom Software from $215.00 to $244.00 and gave the company a “market perform” rating in a report on Thursday, May 8th. JPMorgan Chase & Co. increased their price objective on Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, Wall Street Zen downgraded Paycom Software from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Paycom Software presently has an average rating of “Hold” and a consensus target price of $226.90.

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.