Public Employees Retirement System of Ohio Cuts Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Public Employees Retirement System of Ohio reduced its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 5.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,708 shares of the software maker's stock after selling 998 shares during the period. Public Employees Retirement System of Ohio's holdings in Paycom Software were worth $3,630,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Glass Jacobson Investment Advisors llc boosted its stake in Paycom Software by 746.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock worth $26,000 after purchasing an additional 112 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in shares of Paycom Software in the fourth quarter valued at approximately $30,000. IFP Advisors Inc grew its stake in Paycom Software by 635.7% during the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker's stock valued at $43,000 after acquiring an additional 178 shares in the last quarter. Parvin Asset Management LLC purchased a new position in Paycom Software during the fourth quarter valued at approximately $61,000. Finally, Blue Trust Inc. increased its holdings in Paycom Software by 33.3% during the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker's stock worth $72,000 after acquiring an additional 88 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Price Performance

PAYC stock traded up $4.37 on Tuesday, reaching $263.91. 590,678 shares of the company traded hands, compared to its average volume of 683,411. The firm has a fifty day simple moving average of $232.85 and a 200-day simple moving average of $221.24. The company has a market cap of $15.27 billion, a P/E ratio of 29.65, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $264.07.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 EPS for the quarter, beating analysts' consensus estimates of $2.62 by $0.18. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The firm had revenue of $530.50 million for the quarter, compared to analysts' expectations of $522.92 million. During the same quarter in the prior year, the company posted $2.59 earnings per share. The business's revenue for the quarter was up 6.1% on a year-over-year basis. On average, sell-side analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Tuesday, May 27th will be given a dividend of $0.375 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.50 annualized dividend and a yield of 0.57%. Paycom Software's dividend payout ratio (DPR) is 21.40%.

Analysts Set New Price Targets

Several research analysts have commented on PAYC shares. Stifel Nicolaus raised their price target on shares of Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Piper Sandler increased their price objective on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research 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. KeyCorp upped their target price on Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Finally, BMO Capital Markets boosted 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 issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $226.90.

Insider Buying and Selling at Paycom Software

In related news, CEO Chad R. Richison sold 26,426 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $255.52, for a total value of $6,752,371.52. Following the completion of the sale, the chief executive officer now directly owns 3,277,249 shares of the company's stock, valued at approximately $837,402,664.48. This represents a 0.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Bradley Scott Smith sold 3,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $201.01, for a total transaction of $603,030.00. Following the sale, the insider now owns 28,733 shares in the company, valued at approximately $5,775,620.33. The trade was a 9.45% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 149,426 shares of company stock valued at $36,577,802. Insiders own 10.90% of the company's stock.

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.