California Public Employees Retirement System Sells 3,925 Shares of Paycom Software, Inc. (NYSE:PAYC)

California Public Employees Retirement System reduced its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 4.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 90,784 shares of the software maker’s stock after selling 3,925 shares during the period. California Public Employees Retirement System’s holdings in Paycom Software were worth $18,767,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PAYC. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Paycom Software by 83.5% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock worth $40,000 after buying an additional 71 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Paycom Software during the 3rd quarter worth about $52,000. Operose Advisors LLC acquired a new position in shares of Paycom Software during the third quarter valued at about $55,000. Rakuten Securities Inc. acquired a new position in shares of Paycom Software during the fourth quarter valued at about $62,000. Finally, Clearstead Advisors LLC lifted its stake in shares of Paycom Software by 2,536.8% in the third quarter. Clearstead Advisors LLC now owns 501 shares of the software maker’s stock valued at $130,000 after buying an additional 482 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Price Performance

PAYC stock opened at $193.14 on Tuesday. The stock has a market capitalization of $11.12 billion, a price-to-earnings ratio of 32.74, a P/E/G ratio of 3.22 and a beta of 1.17. The business has a fifty day moving average price of $189.87 and a 200 day moving average price of $195.96. Paycom Software, Inc. has a fifty-two week low of $146.15 and a fifty-two week high of $374.04.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. The company had revenue of $434.60 million during the quarter, compared to analyst estimates of $422.50 million. Paycom Software had a return on equity of 24.60% and a net margin of 20.12%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period last year, the company posted $1.38 earnings per share. On average, equities analysts expect that Paycom Software, Inc. will post 5.73 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, June 10th. Stockholders of record on Tuesday, May 28th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.78%. Paycom Software’s dividend payout ratio (DPR) is currently 25.42%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Jefferies Financial Group reaffirmed a “hold” rating and issued a $195.00 price target on shares of Paycom Software in a report on Friday, January 5th. JPMorgan Chase & Co. upped their target price on Paycom Software from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. BTIG Research initiated coverage on shares of Paycom Software in a research note on Tuesday, February 6th. They set a “neutral” rating on the stock. Citigroup dropped their price objective on shares of Paycom Software from $205.00 to $198.00 and set a “neutral” rating for the company in a research note on Wednesday, January 31st. Finally, Piper Sandler upped their target price on shares of Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Seventeen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $257.18.

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.