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

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $209.62, for a total transaction of $408,759.00. Following the completion of the transaction, the chief executive officer now directly owns 2,747,010 shares in the company, valued at $575,828,236.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Paycom Software Trading Up 3.3 %

PAYC stock opened at $218.48 on Wednesday. The firm’s 50-day moving average price is $169.61 and its two-hundred day moving average price is $163.43. The stock has a market capitalization of $12.55 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 2.91 and a beta of 1.14. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $222.30.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is currently 18.05%.

Hedge Funds Weigh In On Paycom Software

Several hedge funds have recently made changes to their positions in PAYC. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Paycom Software by 29.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock valued at $12,848,000 after purchasing an additional 14,670 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Paycom Software by 17.7% during the first quarter. Janney Montgomery Scott LLC now owns 59,242 shares of the software maker’s stock valued at $11,790,000 after buying an additional 8,927 shares during the period. Sylebra Capital LLC bought a new position in Paycom Software in the first quarter worth about $253,196,000. Profund Advisors LLC purchased a new stake in Paycom Software in the second quarter worth about $589,000. Finally, BOKF NA boosted its position in Paycom Software by 453.0% during the 1st quarter. BOKF NA now owns 9,219 shares of the software maker’s stock valued at $1,828,000 after acquiring an additional 7,552 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PAYC. Mizuho increased their target price on Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday. Jefferies Financial Group boosted their target price on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Citigroup increased their price target on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Piper Sandler boosted their price objective 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. Finally, Barclays increased their target price on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.