Insider Selling: Paycom Software, Inc. (NYSE:PAYC) CEO Sells $350,571.00 in Stock

Paycom Software, Inc. (NYSE:PAYC) CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $179.78, for a total value of $350,571.00. Following the completion of the sale, the chief executive officer now owns 3,090,008 shares of the company’s stock, valued at $555,521,638.24. The transaction was disclosed in a filing with the SEC, which is available through this link.

Paycom Software Stock Down 3.5 %

PAYC opened at $174.43 on Friday. The firm has a 50-day simple moving average of $187.75 and a two-hundred day simple moving average of $188.89. Paycom Software, Inc. has a 52 week low of $146.15 and a 52 week high of $374.04. The company has a market capitalization of $10.14 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 2.83 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, May 1st. The software maker reported $4.25 EPS for the quarter, beating the consensus estimate of $1.96 by $2.29. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. The business had revenue of $499.88 million during the quarter, compared to the consensus estimate of $495.89 million. As a group, sell-side analysts expect that Paycom Software, Inc. will post 6.16 earnings per share for the current year.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Tuesday, May 28th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, May 24th. Paycom Software’s payout ratio is 18.27%.

Analysts Set New Price Targets

PAYC has been the subject of several analyst reports. Barclays reduced their price objective on Paycom Software from $193.00 to $184.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Citigroup reduced their price objective on Paycom Software from $196.00 to $193.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. BTIG Research initiated coverage on Paycom Software in a research note on Tuesday, February 6th. They issued a “neutral” rating for the company. Mizuho reduced their price objective on Paycom Software from $185.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Finally, StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday. Seventeen analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $246.31.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Paycom Software by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 5,936,910 shares of the software maker’s stock valued at $1,227,278,000 after acquiring an additional 137,583 shares during the last quarter. Sylebra Capital LLC purchased a new position in shares of Paycom Software during the first quarter worth approximately $253,196,000. American Century Companies Inc. increased its position in shares of Paycom Software by 18.8% during the third quarter. American Century Companies Inc. now owns 1,139,511 shares of the software maker’s stock worth $295,441,000 after acquiring an additional 180,202 shares during the period. Brown Capital Management LLC increased its position in shares of Paycom Software by 10.1% during the fourth quarter. Brown Capital Management LLC now owns 1,106,045 shares of the software maker’s stock worth $228,642,000 after acquiring an additional 101,744 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of Paycom Software by 7.9% during the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 977,055 shares of the software maker’s stock worth $182,426,000 after acquiring an additional 71,272 shares during the period. 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.