Teacher Retirement System of Texas Takes $5.28 Million Position in Paycom Software, Inc. (NYSE:PAYC)

Teacher Retirement System of Texas acquired a new stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 24,147 shares of the software maker's stock, valued at approximately $5,276,000.

A number of other institutional investors have also recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of Paycom Software by 137.8% in the 4th quarter. FMR LLC now owns 2,396,452 shares of the software maker's stock worth $491,201,000 after buying an additional 1,388,533 shares during the period. Sylebra Capital LLC lifted its holdings in shares of Paycom Software by 63.8% in the 4th quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker's stock worth $658,996,000 after buying an additional 1,252,617 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Paycom Software by 1,153.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker's stock worth $82,375,000 after buying an additional 369,825 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Paycom Software in the 4th quarter worth $63,923,000. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of Paycom Software in the 4th quarter worth $60,882,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

PAYC has been the topic of several research reports. KeyCorp lifted their price objective on shares of Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. 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 shares of Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. 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 report on Thursday, May 8th. Finally, Piper Sandler lifted their price objective 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. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $226.90.

Paycom Software Stock Up 0.6%

Shares of Paycom Software stock traded up $1.42 during mid-day trading on Tuesday, reaching $233.81. 519,298 shares of the stock traded hands, compared to its average volume of 662,977. The business has a 50-day moving average of $245.56 and a 200 day moving average of $223.15. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $267.76. The stock has a market capitalization of $13.53 billion, a PE ratio of 33.35, a PEG ratio of 2.57 and a beta of 0.77.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its 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 return on equity of 25.53% and a net margin of 20.60%. The business had revenue of $530.50 million during the quarter, compared to analysts' expectations of $522.92 million. During the same quarter in the prior year, the firm earned $2.59 earnings per share. The business's revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Tuesday, May 27th were paid a dividend of $0.375 per share. The ex-dividend date was Tuesday, May 27th. This represents a $1.50 annualized dividend and a yield of 0.64%. Paycom Software's dividend payout ratio is presently 21.40%.

Insider Activity at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of the company's stock in a transaction dated 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 owned 27,233 shares of the company's stock, valued at approximately $6,807,160.68. This represents a 5.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chad R. Richison sold 23,200 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 3,224,049 shares in the company, valued at $855,017,794.80. The trade was a 0.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 172,016 shares of company stock valued at $42,736,608. Corporate insiders own 10.90% of the company's stock.

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.