Insider Selling: Paycom Software, Inc. (NYSE:PAYC) CEO Sells $331,870.50 in Stock

22 Sep 2024, 09:04 by Sarita Garza · The Markets Daily

Paycom Software, Inc. (NYSE:PAYC – Get Free Report) CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $170.19, for a total value of $331,870.50. Following the sale, the chief executive officer now owns 2,810,910 shares of the company’s stock, valued at $478,388,772.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Paycom Software Stock Down 1.6 %

Shares of Paycom Software stock opened at $170.24 on Friday. The firm has a market cap of $9.89 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 2.39 and a beta of 1.17. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $279.96. The business’s fifty day simple moving average is $162.09 and its 200-day simple moving average is $168.24.

Paycom Software (NYSE:PAYC – Get Free Report) last posted its earnings results on Wednesday, July 31st. The software maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. Paycom Software had a net margin of 26.55% and a return on equity of 33.36%. The company had revenue of $437.51 million for the quarter, compared to analysts’ expectations of $436.19 million. As a group, equities analysts expect that Paycom Software, Inc. will post 6.67 earnings per share for the current year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Monday, August 26th. Paycom Software’s payout ratio is 18.27%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. TD Cowen lifted their price target on Paycom Software from $147.00 to $171.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Citigroup dropped their target price on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a report on Tuesday, June 18th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Finally, Barclays increased their price objective on shares of Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Seventeen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Paycom Software has a consensus rating of “Hold” and an average price target of $178.33.

Check Out Our Latest Analysis on PAYC

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised 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 buying an additional 137,583 shares during the period. Sylebra Capital LLC grew its position in Paycom Software by 53.9% in the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock valued at $279,996,000 after acquiring an additional 685,190 shares in the last quarter. Brown Capital Management LLC increased its stake in 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 purchasing an additional 101,744 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in shares of Paycom Software by 9.4% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker’s stock worth $152,925,000 after purchasing an additional 92,049 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Paycom Software by 14.5% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 626,646 shares of the software maker’s stock valued at $124,709,000 after purchasing an additional 79,299 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Company Profile

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