New York State Teachers Retirement System Increases Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

New York State Teachers Retirement System lifted its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 0.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,658 shares of the software maker’s stock after purchasing an additional 315 shares during the quarter. New York State Teachers Retirement System’s holdings in Paycom Software were worth $10,194,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its position in Paycom Software by 3.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,111 shares of the software maker’s stock valued at $1,774,000 after buying an additional 298 shares during the last quarter. Lafayette Investments Inc. lifted its stake in shares of Paycom Software by 1.8% in the 1st quarter. Lafayette Investments Inc. now owns 28,340 shares of the software maker’s stock worth $6,192,000 after acquiring an additional 498 shares during the period. Diversified Trust Co purchased a new stake in shares of Paycom Software in the first quarter valued at about $349,000. Avory & Company LLC increased its stake in shares of Paycom Software by 2.8% during the first quarter. Avory & Company LLC now owns 40,029 shares of the software maker’s stock worth $8,745,000 after acquiring an additional 1,090 shares during the period. Finally, KPP Advisory Services LLC raised its holdings in Paycom Software by 32.9% during the first quarter. KPP Advisory Services LLC now owns 3,789 shares of the software maker’s stock worth $828,000 after purchasing an additional 938 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insiders Place Their Bets

In related news, COO Randall Peck sold 890 shares of Paycom Software stock in a transaction that occurred on 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 directly owned 49,394 shares in the company, valued at $13,000,994.74. The trade was a 1.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bradley Scott Smith sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $249.96, for a total value of $374,940.00. Following the completion of the sale, the insider directly owned 27,233 shares in the company, valued at approximately $6,807,160.68. The trade was a 5.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 172,016 shares of company stock worth $42,736,608. Insiders own 10.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PAYC. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, May 8th. Stifel Nicolaus lifted their price target on Paycom Software from $187.00 to $215.00 and gave the company a “hold” rating in a research note on Thursday, May 8th. Piper Sandler upped their price objective on Paycom Software from $224.00 to $246.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. KeyCorp raised their target price on Paycom Software from $245.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Finally, Barclays boosted their target price on shares of Paycom Software from $221.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 8th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $226.90.

Paycom Software Price Performance

NYSE PAYC opened at $232.86 on Friday. The business has a 50 day moving average price of $245.21 and a 200 day moving average price of $222.77. The company has a market capitalization of $13.47 billion, a P/E ratio of 33.22, a PEG ratio of 2.51 and a beta of 0.77. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $267.76.

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, beating analysts’ consensus estimates of $2.62 by $0.18. The business had revenue of $530.50 million during the quarter, compared to analysts’ expectations of $522.92 million. Paycom Software had a return on equity of 25.53% and a net margin of 20.60%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $2.59 earnings per share. On average, research analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were issued 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 (DPR) is currently 21.40%.

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.