Paycom Software, Inc. (NYSE:PAYC) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,343 shares of the software maker's stock after selling 3,313 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Paycom Software worth $9,499,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in Paycom Software during the third quarter valued at about $28,000. Pin Oak Investment Advisors Inc. raised its holdings in shares of Paycom Software by 73.3% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker's stock worth $30,000 after purchasing an additional 77 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of Paycom Software by 821.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker's stock valued at $35,000 after purchasing an additional 189 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Paycom Software by 277.1% during the 3rd quarter. Blue Trust Inc. now owns 264 shares of the software maker's stock worth $44,000 after purchasing an additional 194 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Paycom Software during the 3rd quarter worth approximately $79,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on PAYC shares. BMO Capital Markets lifted their price target on shares of Paycom Software from $183.00 to $197.00 and gave the company a "market perform" rating in a research report on Thursday, October 31st. Jefferies Financial Group lifted their target price on shares of Paycom Software from $170.00 to $175.00 and gave the company a "hold" rating in a report on Thursday, October 31st. Citigroup lowered their price target on Paycom Software from $234.00 to $221.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Piper Sandler boosted their price objective on Paycom Software from $191.00 to $224.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Finally, Barclays decreased their target price on Paycom Software from $229.00 to $221.00 and set an "equal weight" rating for the company in a research report on Thursday, January 23rd. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Paycom Software currently has a consensus rating of "Hold" and a consensus target price of $209.22.

Paycom Software Stock Performance

Shares of NYSE PAYC traded down $1.23 during midday trading on Friday, reaching $213.18. 597,496 shares of the company's stock were exchanged, compared to its average volume of 546,696. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74. The business's fifty day moving average price is $208.35 and its two-hundred day moving average price is $193.15. The stock has a market capitalization of $12.29 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 2.42 and a beta of 1.15.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. Analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.50 annualized dividend and a yield of 0.70%. Paycom Software's dividend payout ratio is presently 16.85%.

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.