Kentucky Retirement Systems Lowers Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Kentucky Retirement Systems cut its holdings in Paycom Software, Inc. (NYSE:PAYCFree Report) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,924 shares of the software maker’s stock after selling 241 shares during the quarter. Kentucky Retirement Systems’ holdings in Paycom Software were worth $811,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Hexagon Capital Partners LLC raised its holdings in Paycom Software by 333.3% during the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in Paycom Software by 83.5% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock worth $40,000 after purchasing an additional 71 shares during the last quarter. GAMMA Investing LLC acquired a new position in Paycom Software during the fourth quarter worth $49,000. Headlands Technologies LLC acquired a new position in shares of Paycom Software in the third quarter worth $52,000. Finally, Operose Advisors LLC acquired a new position in shares of Paycom Software in the third quarter worth $55,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $179.78, for a total value of $350,571.00. Following the sale, the chief executive officer now directly owns 3,090,008 shares in the company, valued at approximately $555,521,638.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 12.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. BTIG Research initiated coverage on Paycom Software in a report on Tuesday, February 6th. They issued a “neutral” rating for the company. Mizuho dropped their target price on Paycom Software from $185.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, May 2nd. JPMorgan Chase & Co. boosted their price target on Paycom Software from $165.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, BMO Capital Markets lowered their price target on Paycom Software from $200.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd. Seventeen analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $246.31.

Get Our Latest Analysis on Paycom Software

Paycom Software Stock Down 0.4 %

NYSE:PAYC opened at $179.58 on Wednesday. The company has a market cap of $10.44 billion, a PE ratio of 21.87, a P/E/G ratio of 2.83 and a beta of 1.17. Paycom Software, Inc. has a 52 week low of $146.15 and a 52 week high of $374.04. The business’s 50 day moving average is $188.21 and its two-hundred day moving average is $189.05.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Tuesday, May 28th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, May 24th. Paycom Software’s dividend payout ratio (DPR) is 18.27%.

Paycom Software Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Paycom Software (NYSE:PAYC)

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