Teacher Retirement System of Texas Buys Shares of 24,147 Paycom Software, Inc. (NYSE:PAYC)

Teacher Retirement System of Texas purchased a new stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 24,147 shares of the software maker's stock, valued at approximately $5,276,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Glass Jacobson Investment Advisors llc boosted its position in Paycom Software by 746.7% during the fourth 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 last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Paycom Software by 112.3% in the 1st quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker's stock valued at $30,000 after buying an additional 73 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Paycom Software in the 4th quarter valued at approximately $30,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Paycom Software by 135.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock valued at $33,000 after buying an additional 87 shares during the last quarter. Finally, Opal Wealth Advisors LLC acquired a new stake in Paycom Software in the first quarter valued at $35,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Stock Performance

Shares of Paycom Software stock traded down $4.73 on Thursday, hitting $229.35. The stock had a trading volume of 418,160 shares, compared to its average volume of 660,933. The stock has a 50 day moving average of $245.80 and a 200 day moving average of $223.30. Paycom Software, Inc. has a twelve month low of $139.53 and a twelve month high of $267.76. The firm has a market capitalization of $13.27 billion, a P/E ratio of 32.72, a PEG ratio of 2.58 and a beta of 0.77.

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 analysts' expectations of $522.92 million. During the same period in the prior year, the company posted $2.59 earnings per share. Paycom Software's revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Tuesday, May 27th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.65%. The ex-dividend date was Tuesday, May 27th. Paycom Software's payout ratio is currently 21.40%.

Insider Activity at Paycom Software

In other Paycom Software news, COO Randall Peck sold 890 shares of Paycom Software stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total transaction of $234,256.90. Following the completion of the transaction, the chief operating officer owned 49,394 shares in the company, valued at approximately $13,000,994.74. The trade was a 1.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bradley Scott Smith sold 1,500 shares of the company's 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 owned 27,233 shares of the company's stock, valued at $6,807,160.68. This trade represents a 5.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 172,016 shares of company stock valued at $42,736,608. 10.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PAYC shares. Barclays raised their target price on shares of Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Stifel Nicolaus lifted their price target on Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. KeyCorp lifted their price objective on shares of Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. Finally, Piper Sandler boosted their target price on shares of Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $226.90.

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.