Paycom Software, Inc. (NYSE:PAYC) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its stake in Paycom Software, Inc. (NYSE:PAYC) by 6.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 232,170 shares of the software maker’s stock after selling 14,953 shares during the quarter. New York State Common Retirement Fund’s holdings in Paycom Software were worth $47,994,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Paycom Software by 1.2% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,500 shares of the software maker’s stock worth $1,167,000 after acquiring an additional 52 shares during the last quarter. HBK Sorce Advisory LLC increased its stake in Paycom Software by 5.9% in the fourth quarter. HBK Sorce Advisory LLC now owns 986 shares of the software maker’s stock valued at $204,000 after purchasing an additional 55 shares during the last quarter. Renaissance Group LLC increased its stake in Paycom Software by 1.1% in the third quarter. Renaissance Group LLC now owns 5,391 shares of the software maker’s stock valued at $1,398,000 after purchasing an additional 61 shares during the last quarter. Bouvel Investment Partners LLC lifted its position in Paycom Software by 1.0% during the fourth quarter. Bouvel Investment Partners LLC now owns 6,431 shares of the software maker’s stock worth $1,329,000 after buying an additional 63 shares during the period. Finally, Optas LLC boosted its stake in Paycom Software by 7.0% in the 4th quarter. Optas LLC now owns 998 shares of the software maker’s stock worth $206,000 after buying an additional 65 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PAYC. UBS Group increased their price objective on shares of Paycom Software from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Citigroup cut their price target on shares of Paycom Software from $205.00 to $198.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 31st. Jefferies Financial Group reissued a “hold” rating and set a $195.00 price objective on shares of Paycom Software in a research note on Friday, January 5th. BTIG Research assumed coverage on Paycom Software in a research report on Tuesday, February 6th. They issued a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Paycom Software from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Seventeen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $257.18.

Paycom Software Trading Down 0.1 %

PAYC opened at $187.96 on Thursday. Paycom Software, Inc. has a twelve month low of $146.15 and a twelve month high of $374.04. The firm has a market cap of $10.82 billion, a price-to-earnings ratio of 31.86, a PEG ratio of 3.21 and a beta of 1.17. The company has a fifty day simple moving average of $190.02 and a 200 day simple moving average of $198.28.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.93 EPS for the quarter, topping the consensus estimate of $1.78 by $0.15. Paycom Software had a return on equity of 24.60% and a net margin of 20.12%. The business had revenue of $434.60 million for the quarter, compared to analysts’ expectations of $422.50 million. During the same quarter in the previous year, the firm posted $1.38 earnings per share. The company’s revenue was up 17.3% compared to the same quarter last year. On average, analysts forecast that Paycom Software, Inc. will post 5.73 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were paid a dividend of $0.375 per share. The ex-dividend date was Friday, March 1st. This represents a $1.50 dividend on an annualized basis and a yield of 0.80%. Paycom Software’s dividend payout ratio (DPR) is 25.42%.

Paycom Software Profile

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.