State of Alaska Department of Revenue Has $1.04 Million Stake in Paycom Software, Inc. (NYSE:PAYC)

State of Alaska Department of Revenue cut its stake in Paycom Software, Inc. (NYSE:PAYCFree Report) by 1.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,215 shares of the software maker’s stock after selling 85 shares during the quarter. State of Alaska Department of Revenue’s holdings in Paycom Software were worth $1,037,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Mather Group LLC. purchased a new stake in Paycom Software in the 1st quarter valued at about $26,000. Hexagon Capital Partners LLC lifted its holdings in Paycom Software by 333.3% during the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock worth $27,000 after acquiring an additional 100 shares during the period. Transcendent Capital Group LLC bought a new position in Paycom Software in the 4th quarter valued at $41,000. GAMMA Investing LLC purchased a new stake in shares of Paycom Software during the 4th quarter valued at $49,000. Finally, Quest Partners LLC bought a new stake in shares of Paycom Software during the 4th quarter worth $56,000. Institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PAYC shares. Citigroup reduced their target price on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, May 2nd. Mizuho lowered their price objective on Paycom Software from $185.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. BMO Capital Markets cut their target price on shares of Paycom Software from $200.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd. Finally, William Blair reissued a “market perform” rating on shares of Paycom Software in a research report on Thursday, May 2nd. Sixteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Paycom Software presently has a consensus rating of “Hold” and an average target price of $237.81.

Read Our Latest Report on PAYC

Insiders Place Their Bets

In other news, EVP Amy Vickroy sold 1,381 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $143.39, for a total transaction of $198,021.59. Following the transaction, the executive vice president now directly owns 19,962 shares in the company, valued at approximately $2,862,351.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Amy Vickroy sold 1,381 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $143.39, for a total value of $198,021.59. Following the completion of the sale, the executive vice president now owns 19,962 shares of the company’s stock, valued at approximately $2,862,351.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Friday, May 17th. The stock was sold at an average price of $180.82, for a total transaction of $352,599.00. Following the completion of the transaction, the chief executive officer now owns 3,091,958 shares in the company, valued at approximately $559,087,845.56. The disclosure for this sale can be found here. Insiders sold a total of 37,387 shares of company stock valued at $5,653,933 over the last 90 days. Insiders own 12.60% of the company’s stock.

Paycom Software Stock Down 0.1 %

NYSE:PAYC opened at $140.16 on Wednesday. The stock has a market cap of $8.14 billion, a P/E ratio of 17.07, a PEG ratio of 2.15 and a beta of 1.16. The business’s 50-day moving average price is $157.83 and its two-hundred day moving average price is $180.74. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $374.04.

Paycom Software (NYSE:PAYCGet Free Report) last announced its earnings results on Wednesday, May 1st. The software maker reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $2.29. The business had revenue of $499.88 million during the quarter, compared to analyst estimates of $495.89 million. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. On average, equities research analysts expect that Paycom Software, Inc. will post 6.37 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Tuesday, May 28th were paid a $0.375 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $1.50 dividend on an annualized basis and a yield of 1.07%. Paycom Software’s dividend payout ratio is presently 18.27%.

About Paycom Software

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Paycom Software (NYSE:PAYC)

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