New York State Common Retirement Fund Sells 1,500 Shares of Paycom Software, Inc. (NYSE:PAYC)

New York State Common Retirement Fund reduced its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 170,887 shares of the software maker's stock after selling 1,500 shares during the quarter. New York State Common Retirement Fund owned approximately 0.30% of Paycom Software worth $37,335,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PAYC. Proficio Capital Partners LLC acquired a new position in Paycom Software in the fourth quarter valued at approximately $7,142,000. Glenview Trust co lifted its position in Paycom Software by 27.1% in the fourth quarter. Glenview Trust co now owns 12,294 shares of the software maker's stock worth $2,520,000 after purchasing an additional 2,625 shares during the period. SG Americas Securities LLC lifted its position in Paycom Software by 57.1% in the first quarter. SG Americas Securities LLC now owns 2,685 shares of the software maker's stock worth $587,000 after purchasing an additional 976 shares during the period. GAMMA Investing LLC increased its holdings in shares of Paycom Software by 54.5% in the first quarter. GAMMA Investing LLC now owns 904 shares of the software maker's stock valued at $198,000 after buying an additional 319 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Paycom Software by 43.0% in the fourth quarter. American Century Companies Inc. now owns 52,755 shares of the software maker's stock valued at $10,813,000 after buying an additional 15,852 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PAYC has been the topic of several research reports. KeyCorp upped their price target on Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. BMO Capital Markets upped their price target on shares of Paycom Software from $215.00 to $244.00 and gave the stock a "market perform" rating in a research note on Thursday, May 8th. Barclays upped their price objective on shares of 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 upped their price target on shares of Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Finally, Stifel Nicolaus upped their price objective on shares of Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $226.90.

Insider Activity

In other news, CEO Chad R. Richison sold 23,200 shares of Paycom Software stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $265.20, for a total transaction of $6,152,640.00. Following the transaction, the chief executive officer directly owned 3,224,049 shares of the company's stock, valued at $855,017,794.80. This trade represents a 0.71% 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, 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 transaction of $374,940.00. Following the transaction, the insider directly owned 27,233 shares in the company, valued at approximately $6,807,160.68. This represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 172,016 shares of company stock valued at $42,736,608 over the last three months. 10.90% of the stock is owned by insiders.

Paycom Software Trading Up 0.7%

NYSE:PAYC traded up $1.60 during mid-day trading on Wednesday, hitting $223.33. The company's stock had a trading volume of 421,382 shares, compared to its average volume of 654,829. Paycom Software, Inc. has a fifty-two week low of $152.45 and a fifty-two week high of $267.76. The company has a market capitalization of $12.92 billion, a price-to-earnings ratio of 31.86, a P/E/G ratio of 2.44 and a beta of 0.77. The stock has a fifty day moving average of $245.35 and a 200-day moving average of $223.81.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 earnings per share 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 analyst estimates of $522.92 million. During the same quarter last year, the business posted $2.59 earnings per share. The company's revenue was up 6.1% on a year-over-year basis. On average, equities analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were paid 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 dividend payout ratio (DPR) is currently 21.40%.

Paycom Software Company 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.