1,480 Shares in Paycom Software, Inc. (NYSE:PAYC) Acquired by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund bought 1,480 shares of the software maker's stock, valued at approximately $323,000.

A number of other hedge funds also recently made changes to their positions in the business. Kentucky Retirement Systems raised its stake in shares of Paycom Software by 3.9% during the 1st quarter. Kentucky Retirement Systems now owns 3,476 shares of the software maker's stock worth $759,000 after purchasing an additional 132 shares during the period. Absher Wealth Management LLC raised its stake in shares of Paycom Software by 94.1% during the 1st quarter. Absher Wealth Management LLC now owns 3,801 shares of the software maker's stock worth $830,000 after purchasing an additional 1,843 shares during the period. Good Steward Wealth Advisors LLC bought a new stake in shares of Paycom Software during the 1st quarter worth $210,000. PUREfi Wealth LLC raised its stake in shares of Paycom Software by 33.9% during the 1st quarter. PUREfi Wealth LLC now owns 1,877 shares of the software maker's stock worth $410,000 after purchasing an additional 475 shares during the period. Finally, Grove Bank & Trust raised its stake in shares of Paycom Software by 5.5% during the 1st quarter. Grove Bank & Trust now owns 6,138 shares of the software maker's stock worth $1,341,000 after purchasing an additional 322 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PAYC. Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a report on Thursday, May 8th. Barclays lifted their price objective on Paycom Software from $221.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Piper Sandler lifted their price objective on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Stifel Nicolaus lifted their price objective on Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Finally, BMO Capital Markets lifted their price objective on Paycom Software from $215.00 to $244.00 and gave the stock a "market perform" rating in a report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $226.90.

Insider Buying and Selling

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $249.96, for a total transaction of $374,940.00. Following the completion of the sale, the insider now directly owns 27,233 shares in the company, valued at $6,807,160.68. The trade was a 5.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Randall Peck sold 890 shares of Paycom Software stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total transaction of $234,256.90. Following the sale, the chief operating officer now owns 49,394 shares of the company's stock, valued at approximately $13,000,994.74. The trade was a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 172,016 shares of company stock worth $42,736,608. Insiders own 10.90% of the company's stock.

Paycom Software Price Performance

PAYC stock traded up $1.57 during mid-day trading on Friday, reaching $227.03. 590,047 shares of the company traded hands, compared to its average volume of 663,158. The company has a market capitalization of $13.13 billion, a P/E ratio of 32.39, a P/E/G ratio of 2.50 and a beta of 0.81. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $267.76. The company has a fifty day moving average price of $244.08 and a 200-day moving average price of $222.79.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, beating analysts' consensus estimates of $2.62 by $0.18. The business had revenue of $530.50 million during the quarter, compared to analyst estimates of $522.92 million. Paycom Software had a return on equity of 25.53% and a net margin of 20.60%. The company's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.59 EPS. As a group, analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software's payout ratio is 21.40%.

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.