California State Teachers Retirement System Has $7.30 Million Position in Paycom Software, Inc. $PAYC

Key Points

• California State Teachers Retirement System cut its Paycom stake by 34.2% in the first quarter, selling 31,164 shares and retaining 60,042 shares worth approximately $7.30 million. Institutional investors collectively own 87.77% of Paycom.
• Paycom reported first-quarter earnings of $3.15 per share, beating estimates of $2.99, while revenue rose 7.8% year over year to $571.8 million. The company currently has a “Moderate Buy” consensus rating and an average analyst price target of $159.75.
• Paycom announced a quarterly dividend of $0.375 per share, equal to $1.50 annually and a 0.9% yield. Shares opened at $175.09, above the consensus price target but below their 12-month high of $248.95.

California State Teachers Retirement System trimmed its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 34.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,042 shares of the software maker's stock after selling 31,164 shares during the quarter. California State Teachers Retirement System owned approximately 0.13% of Paycom Software worth $7,298,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PAYC. Brighton Jones LLC bought a new stake in Paycom Software during the 4th quarter worth approximately $638,000. AQR Capital Management LLC grew its stake in shares of Paycom Software by 23.7% in the first quarter. AQR Capital Management LLC now owns 19,155 shares of the software maker's stock worth $4,136,000 after purchasing an additional 3,674 shares during the last quarter. United Services Automobile Association acquired a new stake in Paycom Software in the first quarter valued at $215,000. Empowered Funds LLC raised its position in Paycom Software by 22.8% during the 1st quarter. Empowered Funds LLC now owns 7,958 shares of the software maker's stock worth $1,739,000 after purchasing an additional 1,480 shares during the last quarter. Finally, Focus Partners Wealth lifted its holdings in Paycom Software by 220.8% during the 1st quarter. Focus Partners Wealth now owns 3,940 shares of the software maker's stock worth $861,000 after buying an additional 2,712 shares during the period. Institutional investors own 87.77% of the company's stock.

Paycom Software Stock Up 3.8%

Shares of NYSE:PAYC opened at $175.09 on Wednesday. The business's 50 day moving average is $140.55 and its 200 day moving average is $133.50. Paycom Software, Inc. has a 12-month low of $104.90 and a 12-month high of $248.95. The stock has a market cap of $8.34 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 1.43 and a beta of 0.76. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.83.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The software maker reported $3.15 earnings per share for the quarter, beating the consensus estimate of $2.99 by $0.16. Paycom Software had a return on equity of 28.34% and a net margin of 22.44%.The business had revenue of $571.80 million for the quarter, compared to analysts' expectations of $564.37 million. During the same period last year, the business earned $2.80 EPS. The business's revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts forecast that Paycom Software, Inc. will post 9.37 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.50 annualized dividend and a dividend yield of 0.9%. Paycom Software's dividend payout ratio (DPR) is currently 17.34%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. TD Cowen reduced their target price on Paycom Software from $154.00 to $149.00 and set a "buy" rating on the stock in a report on Friday, June 26th. UBS Group dropped their target price on shares of Paycom Software from $210.00 to $183.00 and set a "buy" rating on the stock in a report on Tuesday, April 21st. Zacks Research raised Paycom Software from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 18th. Barclays raised their target price on Paycom Software from $148.00 to $154.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 21st. Finally, BMO Capital Markets increased their price target on Paycom Software from $137.00 to $145.00 and gave the stock a "market perform" rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $159.75.

Paycom Software Company Profile

Paycom Software, Inc NYSE: PAYC is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom's software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company's core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.

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