Paycom Software, Inc. (NYSE:PAYC) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 4.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 90,784 shares of the software maker’s stock after selling 3,925 shares during the period. California Public Employees Retirement System owned 0.15% of Paycom Software worth $18,767,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. AE Wealth Management LLC lifted its position in Paycom Software by 12.7% in the third quarter. AE Wealth Management LLC now owns 1,704 shares of the software maker’s stock valued at $442,000 after acquiring an additional 192 shares during the last quarter. Czech National Bank boosted its position in shares of Paycom Software by 49.6% in the 3rd quarter. Czech National Bank now owns 8,609 shares of the software maker’s stock valued at $2,232,000 after purchasing an additional 2,855 shares during the period. Copeland Capital Management LLC purchased a new position in Paycom Software during the 3rd quarter worth approximately $811,000. Commonwealth Equity Services LLC increased its position in Paycom Software by 17.2% during the third quarter. Commonwealth Equity Services LLC now owns 27,629 shares of the software maker’s stock worth $7,164,000 after buying an additional 4,046 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Paycom Software by 12.0% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 13,951 shares of the software maker’s stock valued at $3,617,000 after buying an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PAYC. UBS Group lifted their target price on shares of Paycom Software from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. JPMorgan Chase & Co. upped their target price on shares of Paycom Software from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Citigroup lowered their price target on Paycom Software from $205.00 to $198.00 and set a “neutral” rating on the stock in a report on Wednesday, January 31st. Piper Sandler upped their price objective on Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $195.00 target price on shares of Paycom Software in a research note on Friday, January 5th. Seventeen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $257.18.

Paycom Software Trading Up 2.2 %

Shares of Paycom Software stock opened at $193.14 on Tuesday. The company has a 50-day moving average of $189.87 and a two-hundred day moving average of $195.96. The stock has a market cap of $11.12 billion, a PE ratio of 32.74, a price-to-earnings-growth ratio of 3.22 and a beta of 1.17. Paycom Software, Inc. has a 12-month low of $146.15 and a 12-month high of $374.04.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.15. Paycom Software had a return on equity of 24.60% and a net margin of 20.12%. The firm had revenue of $434.60 million during the quarter, compared to analysts’ expectations of $422.50 million. During the same period in the previous year, the firm posted $1.38 earnings per share. Paycom Software’s revenue was up 17.3% on a year-over-year basis. On average, sell-side analysts forecast that Paycom Software, Inc. will post 5.73 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.78%. Paycom Software’s dividend payout ratio (DPR) is currently 25.42%.

About Paycom Software

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.