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 firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $226.55, for a total transaction of $441,772.50. Following the transaction, the chief executive officer now directly owns 2,737,260 shares in the company, valued at approximately $620,126,253. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Paycom Software Stock Up 0.5 %

Shares of Paycom Software stock opened at $228.89 on Wednesday. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $233.69. The firm’s 50 day moving average price is $174.86 and its 200-day moving average price is $164.60. The company has a market cap of $13.20 billion, a P/E ratio of 27.54, a PEG ratio of 3.05 and a beta of 1.14.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Monday, November 25th. Paycom Software’s payout ratio is presently 18.05%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. BMO Capital Markets raised their price objective on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Piper Sandler raised their price target on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Citigroup upped their price objective on shares of Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. TD Cowen raised their target price on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Finally, Barclays upped their price target on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $193.67.

Institutional Trading of Paycom Software

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ashton Thomas Private Wealth LLC acquired a new position in Paycom Software during the 2nd quarter valued at about $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of Paycom Software during the second quarter worth about $26,000. Armstrong Advisory Group Inc. acquired a new position in shares of Paycom Software during the third quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Paycom Software in the 2nd quarter valued at approximately $27,000. Finally, CVA Family Office LLC boosted its stake in Paycom Software by 234.3% in the 2nd quarter. CVA Family Office LLC now owns 234 shares of the software maker’s stock worth $33,000 after purchasing an additional 164 shares in the last quarter. Hedge funds and other 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.