Chad R. Richison Sells 26,426 Shares of Paycom Software, Inc. (NYSE:PAYC) Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 26,426 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $255.52, for a total transaction of $6,752,371.52. Following the transaction, the chief executive officer now owns 3,277,249 shares of the company’s stock, valued at $837,402,664.48. This represents a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Paycom Software Stock Performance

NYSE:PAYC opened at $256.30 on Friday. The company has a fifty day moving average of $221.45 and a two-hundred day moving average of $217.17. The stock has a market capitalization of $14.83 billion, a PE ratio of 28.80, a P/E/G ratio of 2.40 and a beta of 0.80. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $261.64.

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

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.59%. Paycom Software’s payout ratio is currently 21.40%.

Wall Street Analysts Forecast Growth

PAYC has been the topic of a number of recent research reports. Barclays upped their target price on Paycom Software from $221.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 8th. Citigroup decreased their price target on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Stifel Nicolaus increased their price target on shares of Paycom Software from $187.00 to $215.00 and gave the stock a “hold” rating in a report on Thursday, May 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a report on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $226.90.

Hedge Funds Weigh In On Paycom Software

Hedge funds have recently made changes to their positions in the company. Baillie Gifford & Co. raised its stake in Paycom Software by 1,918.4% in the 1st quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker’s stock valued at $346,180,000 after purchasing an additional 1,505,990 shares during the last quarter. FMR LLC raised its stake in Paycom Software by 137.8% in the 4th quarter. FMR LLC now owns 2,396,452 shares of the software maker’s stock valued at $491,201,000 after purchasing an additional 1,388,533 shares during the last quarter. Sylebra Capital LLC raised its position in shares of Paycom Software by 63.8% in the fourth quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker’s stock valued at $658,996,000 after buying an additional 1,252,617 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Paycom Software by 1,153.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker’s stock valued at $82,375,000 after buying an additional 369,825 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Paycom Software in the fourth quarter valued at about $63,923,000. Institutional investors and hedge funds 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.