California Public Employees Retirement System Increases Holdings in Paycom Software, Inc. (NYSE:PAYC)

California Public Employees Retirement System grew its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 20.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,310 shares of the software maker's stock after purchasing an additional 14,055 shares during the period. California Public Employees Retirement System owned approximately 0.15% of Paycom Software worth $17,281,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Public Sector Pension Investment Board boosted its position in shares of Paycom Software by 28.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,816 shares of the software maker's stock valued at $302,000 after acquiring an additional 400 shares during the last quarter. Benjamin Edwards Inc. lifted its position in Paycom Software by 805.5% during the third quarter. Benjamin Edwards Inc. now owns 5,442 shares of the software maker's stock valued at $906,000 after purchasing an additional 4,841 shares during the last quarter. HighTower Advisors LLC lifted its position in Paycom Software by 4.7% during the third quarter. HighTower Advisors LLC now owns 15,031 shares of the software maker's stock valued at $2,474,000 after purchasing an additional 672 shares during the last quarter. Investment Management Corp of Ontario purchased a new position in Paycom Software in the 3rd quarter worth approximately $275,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Paycom Software in the 3rd quarter worth $206,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

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Paycom Software Trading Up 13.1 %

Shares of PAYC stock traded up $25.34 during mid-day trading on Wednesday, reaching $218.41. The stock had a trading volume of 1,162,374 shares, compared to its average volume of 725,838. The firm has a market capitalization of $12.51 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 2.40 and a beta of 0.97. The stock's 50-day moving average price is $212.39 and its two-hundred day moving average price is $206.07. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, beating analysts' consensus estimates of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. On average, equities research analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.69%. The ex-dividend date was Monday, March 10th. Paycom Software's dividend payout ratio (DPR) is currently 16.85%.

Wall Street Analysts Forecast Growth

PAYC has been the topic of a number of research analyst reports. Citigroup reduced their target price on Paycom Software from $234.00 to $221.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. StockNews.com downgraded Paycom Software from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Piper Sandler increased their price target on shares of Paycom Software from $191.00 to $224.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. KeyCorp upgraded shares of Paycom Software from a "sector weight" rating to an "overweight" rating and set a $245.00 price objective for the company in a report on Monday, March 10th. Finally, Mizuho upped their price objective on shares of Paycom Software from $190.00 to $210.00 and gave the company a "neutral" rating in a research note on Friday, December 13th. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $212.80.

Insider Buying and Selling at Paycom Software

In related news, insider Bradley Scott Smith sold 3,000 shares of the company's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $201.01, for a total value of $603,030.00. Following the sale, the insider now directly owns 28,733 shares of the company's stock, valued at $5,775,620.33. This represents a 9.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Randall Peck sold 3,600 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $212.19, for a total value of $763,884.00. Following the completion of the transaction, the chief operating officer now owns 50,665 shares of the company's stock, valued at approximately $10,750,606.35. This trade represents a 6.63 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,100 shares of company stock valued at $1,476,024. 14.50% of the stock is currently owned by company insiders.

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.