California Public Employees Retirement System Sells 56,535 Shares of Paycom Software, Inc. $PAYC

California Public Employees Retirement System trimmed its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 44.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 71,320 shares of the software maker’s stock after selling 56,535 shares during the period. California Public Employees Retirement System owned 0.15% of Paycom Software worth $8,668,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PAYC. Reinhart Partners LLC. boosted its holdings in shares of Paycom Software by 887.4% during the 4th quarter. Reinhart Partners LLC. now owns 598,323 shares of the software maker’s stock valued at $95,351,000 after purchasing an additional 537,726 shares during the last quarter. Contour Asset Management LLC purchased a new position in shares of Paycom Software during the fourth quarter valued at about $60,333,000. Two Sigma Investments LP grew its position in shares of Paycom Software by 228.7% during the third quarter. Two Sigma Investments LP now owns 532,124 shares of the software maker’s stock valued at $110,756,000 after purchasing an additional 370,219 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Paycom Software by 28.2% in the fourth quarter. Invesco Ltd. now owns 1,559,682 shares of the software maker’s stock worth $248,551,000 after purchasing an additional 343,494 shares during the last quarter. Finally, River Road Asset Management LLC increased its holdings in shares of Paycom Software by 481.9% in the fourth quarter. River Road Asset Management LLC now owns 392,403 shares of the software maker’s stock worth $62,533,000 after purchasing an additional 324,970 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PAYC shares. Zacks Research upgraded Paycom Software from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. BMO Capital Markets raised their price target on Paycom Software from $137.00 to $145.00 and gave the company a “market perform” rating in a report on Thursday, May 7th. Weiss Ratings raised Paycom Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 16th. TD Cowen decreased their price objective on Paycom Software from $154.00 to $149.00 and set a “buy” rating on the stock in a report on Friday, June 26th. Finally, Citigroup increased their target price on Paycom Software from $120.00 to $136.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $159.75.

Paycom Software Stock Performance

Paycom Software stock opened at $145.71 on Friday. The company’s 50-day moving average price is $136.71 and its 200-day moving average price is $133.26. Paycom Software, Inc. has a twelve month low of $104.90 and a twelve month high of $248.95. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.83. The company has a market cap of $6.94 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 1.23 and a beta of 0.80.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, May 6th. The software maker reported $3.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.99 by $0.16. Paycom Software had a net margin of 22.44% and a return on equity of 28.34%. The firm had revenue of $571.80 million for the quarter, compared to analysts’ expectations of $564.37 million. During the same period in the prior year, the company earned $2.80 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts forecast that Paycom Software, Inc. will post 9.37 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Tuesday, May 26th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, May 26th. Paycom Software’s payout ratio is presently 17.34%.

Paycom Software Company Profile

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.