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Paycom Software (ETR:SOWGn), Inc. (NYSE:PAYC) Chief Operating Officer Randall Peck recently executed a sale of 3,600 shares of common stock, generating approximately $763,866, according to a recent SEC filing. The shares were sold at an average price of $212.185 each. Following this transaction, Peck retains ownership of 50,665 shares, which include 33,677 unvested shares of restricted stock and 11,886 unvested restricted stock units. The transaction comes as Paycom maintains strong financial health, with InvestingPro data showing impressive gross profit margins of 85.8% and more cash than debt on its balance sheet.
In addition to the sale, Peck acquired 8,390 shares of common stock through restricted stock units granted under the company’s 2023 Long-Term Incentive Plan. This acquisition was recorded at a transaction price of $0, reflecting the nature of restricted stock units. With a market capitalization of $11.86 billion and a strong six-month price return of 34.74%, investors seeking deeper insights into insider trading patterns and comprehensive financial analysis can access detailed reports through InvestingPro, which offers exclusive access to over 10 additional key insights about Paycom’s current market position.
In other recent news, Paycom Software reported strong fourth-quarter earnings for 2024, with an earnings per share of $2.32, surpassing the forecasted $1.97. The company also exceeded revenue expectations, reporting $493.8 million against the anticipated $481.16 million. Piper Sandler responded by raising Paycom’s stock price target to $224, citing the company’s effective execution and operational efficiency, although they maintained a Neutral rating due to cautiousness about revenue growth projections. Meanwhile, Needham maintained a Hold rating on Paycom stock, noting the company’s robust earnings and alignment with revenue projections for 2025, despite falling short of consensus due to a lack of updated estimates.
KeyBanc also reaffirmed a Sector Weight rating for Paycom following the earnings report, acknowledging the company’s strong financial performance but pointing out discrepancies in revenue guidance expectations. Paycom announced the opening of three new sales offices and appointed Bob Foster as the new Chief Financial Officer, signaling strategic moves to drive future growth. Despite these developments, KeyBanc remains cautious, indicating a need for consistent results before considering a rating change. Additionally, Paycom’s automation initiatives, including its GONE solution, continue to reduce service tickets and enhance client engagement. These recent developments highlight Paycom’s ongoing efforts to strengthen its market position through strategic growth and innovation.
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