Retirement Systems of Alabama Sells 410 Shares of Paycom Software, Inc. (NYSE:PAYC)

Retirement Systems of Alabama decreased its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 3.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,117 shares of the software maker’s stock after selling 410 shares during the period. Retirement Systems of Alabama’s holdings in Paycom Software were worth $2,210,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PUREfi Wealth LLC raised its stake in Paycom Software by 33.9% during the 1st quarter. PUREfi Wealth LLC now owns 1,877 shares of the software maker’s stock worth $410,000 after acquiring an additional 475 shares during the period. Grove Bank & Trust raised its stake in Paycom Software by 5.5% during the 1st quarter. Grove Bank & Trust now owns 6,138 shares of the software maker’s stock worth $1,341,000 after acquiring an additional 322 shares during the period. QRG Capital Management Inc. bought a new stake in Paycom Software during the 1st quarter worth approximately $528,000. Sowell Financial Services LLC bought a new stake in Paycom Software during the 1st quarter worth approximately $415,000. Finally, Janney Montgomery Scott LLC raised its stake in Paycom Software by 13.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 14,316 shares of the software maker’s stock worth $3,128,000 after acquiring an additional 1,690 shares during the period. Institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Performance

Shares of PAYC opened at $222.74 on Thursday. The company’s fifty day moving average is $243.56 and its 200 day moving average is $223.04. 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 $12.89 billion, a PE ratio of 31.77, a P/E/G ratio of 2.59 and a beta of 0.81.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $522.92 million. During the same quarter in the previous year, the business posted $2.59 earnings per share. Paycom Software’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, research analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

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 0.67%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software’s dividend payout ratio is presently 21.40%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PAYC. Wall Street Zen cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research 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 research report on Thursday, May 8th. 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 research 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 research report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Paycom Software presently has a consensus rating of “Hold” and a consensus target price of $226.90.

Insider Buying and Selling

In other Paycom Software news, CEO Chad R. Richison sold 26,426 shares of Paycom Software stock in a transaction on Monday, May 12th. The shares were sold at an average price of $255.52, for a total transaction of $6,752,371.52. Following the completion of the transaction, the chief executive officer now directly owns 3,277,249 shares of the company’s stock, valued at $837,402,664.48. The trade was a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $249.96, for a total transaction of $374,940.00. Following the transaction, the insider now directly owns 27,233 shares of the company’s stock, valued at $6,807,160.68. The trade was a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 172,016 shares of company stock worth $42,736,608. 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.