Paycom Software, Inc. (NYSE:PAYC) Shares Bought by Arizona State Retirement System

Arizona State Retirement System raised its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,013 shares of the software maker’s stock after acquiring an additional 429 shares during the period. Arizona State Retirement System’s holdings in Paycom Software were worth $3,077,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new position in shares of Paycom Software during the third quarter worth $28,000. Pin Oak Investment Advisors Inc. boosted its holdings in Paycom Software by 73.3% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock valued at $30,000 after acquiring an additional 77 shares during the period. First Horizon Advisors Inc. grew its position in 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 acquiring an additional 189 shares in the last quarter. IFP Advisors Inc increased its stake in Paycom Software by 635.7% during the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock worth $43,000 after purchasing an additional 178 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of Paycom Software by 33.3% during the fourth quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock worth $72,000 after purchasing an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PAYC shares. TD Cowen lifted their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a report on Monday, December 9th. Barclays dropped their price target on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Citigroup cut their price objective on Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Piper Sandler lifted their target price on Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Finally, Mizuho upped their price target on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Twelve investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Paycom Software currently has an average rating of “Hold” and a consensus price target of $209.22.

Paycom Software Price Performance

Shares of NYSE PAYC opened at $213.03 on Monday. The business has a 50-day moving average of $208.61 and a two-hundred day moving average of $198.19. The company has a market capitalization of $12.20 billion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 2.40 and a beta of 1.14. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $242.74.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share 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%. As a group, equities research analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

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

Insider Activity at Paycom Software

In other Paycom Software news, COO Randall Peck sold 3,600 shares of the business’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 50,665 shares in the company, valued at approximately $10,750,606.35. The trade was a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J C. Watts, Jr. sold 500 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $218.22, for a total transaction of $109,110.00. Following the transaction, the director now owns 7,730 shares in the company, valued at approximately $1,686,840.60. This trade represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 14.50% of the company’s stock.

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.