Kentucky Retirement Systems Insurance Trust Fund Purchases Shares of 1,480 Paycom Software, Inc. (NYSE:PAYC)

Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,480 shares of the software maker's stock, valued at approximately $323,000.

A number of other hedge funds also recently modified their holdings of the business. Glass Jacobson Investment Advisors llc increased its position in Paycom Software by 746.7% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock valued at $26,000 after purchasing an additional 112 shares during the period. Murphy & Mullick Capital Management Corp bought a new stake in shares of Paycom Software in the 4th quarter valued at $30,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Paycom Software by 135.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock worth $33,000 after buying an additional 87 shares during the period. Opal Wealth Advisors LLC bought a new position in Paycom Software during the first quarter worth $35,000. Finally, Putney Financial Group LLC bought a new position in Paycom Software during the fourth quarter worth $39,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Insider Buying and Selling

In other news, CEO Chad R. Richison sold 120,000 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $243.52, for a total transaction of $29,222,400.00. Following the completion of the sale, the chief executive officer now directly owns 3,307,249 shares of the company's stock, valued at $805,381,276.48. This trade represents a 3.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $249.96, for a total value of $374,940.00. Following the sale, the insider now 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 172,016 shares of company stock worth $42,736,608. 10.90% of the stock is owned by corporate insiders.

Paycom Software Trading Down 5.2%

Shares of PAYC stock opened at $222.74 on Thursday. The firm has a fifty day simple moving average of $243.56 and a two-hundred day simple moving average of $223.04. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $267.76. The firm has a market capitalization of $12.89 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 2.59 and a beta of 0.81.

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

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Tuesday, May 27th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.50 annualized dividend and a dividend yield of 0.67%. Paycom Software's payout ratio is 21.40%.

Analysts Set New Price Targets

PAYC has been the subject of a number of recent analyst reports. BMO Capital Markets increased their price target on Paycom Software from $215.00 to $244.00 and gave the stock a "market perform" rating in a report on Thursday, May 8th. KeyCorp lifted their target price on Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a research note on Thursday, May 8th. Piper Sandler raised their price objective on shares of Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, Stifel Nicolaus lifted their price objective on shares of Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Paycom Software currently has an average rating of "Hold" and a consensus price target of $226.90.

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.

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