New Mexico Educational Retirement Board Sells 200 Shares of Paycom Software, Inc. (NYSE:PAYC)

New Mexico Educational Retirement Board cut its position in Paycom Software, Inc. (NYSE:PAYCGet Rating) by 6.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,750 shares of the software maker’s stock after selling 200 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Paycom Software were worth $953,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PAYC. MML Investors Services LLC grew its stake in shares of Paycom Software by 8.1% during the third quarter. MML Investors Services LLC now owns 4,306 shares of the software maker’s stock worth $2,135,000 after acquiring an additional 321 shares during the last quarter. MFA Wealth Advisors LLC purchased a new stake in shares of Paycom Software during the third quarter worth about $50,000. LPL Financial LLC grew its stake in shares of Paycom Software by 34.3% during the third quarter. LPL Financial LLC now owns 18,792 shares of the software maker’s stock worth $9,316,000 after acquiring an additional 4,802 shares during the last quarter. Toroso Investments LLC grew its stake in shares of Paycom Software by 23.5% during the third quarter. Toroso Investments LLC now owns 908 shares of the software maker’s stock worth $450,000 after acquiring an additional 173 shares during the last quarter. Finally, Corient Capital Partners LLC grew its stake in shares of Paycom Software by 3.9% during the third quarter. Corient Capital Partners LLC now owns 579 shares of the software maker’s stock worth $287,000 after acquiring an additional 22 shares during the last quarter. Institutional investors and hedge funds own 87.12% of the company’s stock.

A number of brokerages have recently weighed in on PAYC. Jefferies Financial Group dropped their price target on Paycom Software from $400.00 to $335.00 in a research note on Monday, May 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on Paycom Software from $450.00 to $425.00 in a research report on Wednesday, May 4th. TheStreet lowered Paycom Software from a “b-” rating to a “c+” rating in a research report on Monday, May 2nd. Piper Sandler dropped their target price on Paycom Software from $505.00 to $430.00 in a research report on Wednesday, May 4th. Finally, StockNews.com initiated coverage on Paycom Software in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Paycom Software currently has a consensus rating of “Moderate Buy” and a consensus price target of $386.38.

NYSE PAYC opened at $273.17 on Thursday. The business has a fifty day moving average price of $289.47 and a 200 day moving average price of $330.93. Paycom Software, Inc. has a one year low of $255.82 and a one year high of $558.97. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $16.46 billion, a P/E ratio of 71.14, a P/E/G ratio of 2.46 and a beta of 1.54.

Paycom Software (NYSE:PAYCGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The software maker reported $1.56 EPS for the quarter, beating the consensus estimate of $1.42 by $0.14. Paycom Software had a return on equity of 25.12% and a net margin of 19.64%. The firm had revenue of $353.52 million during the quarter, compared to the consensus estimate of $343.20 million. During the same period in the prior year, the company earned $1.10 EPS. The firm’s revenue was up 29.9% compared to the same quarter last year. As a group, sell-side analysts predict that Paycom Software, Inc. will post 4.3 EPS for the current fiscal year.

Paycom Software declared that its board has authorized a share repurchase program on Tuesday, June 7th that allows the company to buyback $550.00 million in shares. This buyback authorization allows the software maker to purchase up to 3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

In other Paycom Software news, insider Holly Faurot sold 194 shares of the company’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $280.32, for a total value of $54,382.08. Following the completion of the sale, the insider now directly owns 45,180 shares in the company, valued at approximately $12,664,857.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Justin Devon Long sold 151 shares of the company’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $275.23, for a total value of $41,559.73. Following the completion of the sale, the executive vice president now owns 2,956 shares of the company’s stock, valued at $813,579.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,721 shares of company stock valued at $5,441,538. 15.20% of the stock is owned by corporate insiders.

Paycom Software Profile (Get Rating)

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.

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

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