Paycom Software, Inc. (NYSE:PAYC) Stock Position Decreased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of Paycom Software, Inc. (NYSE:PAYCGet Rating) by 4.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,402 shares of the software maker’s stock after selling 148 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Paycom Software were worth $1,178,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Gotham Asset Management LLC boosted its stake in Paycom Software by 197.7% during the 4th quarter. Gotham Asset Management LLC now owns 8,125 shares of the software maker’s stock valued at $3,373,000 after purchasing an additional 5,396 shares during the period. Nissay Asset Management Corp Japan ADV boosted its stake in Paycom Software by 0.8% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 5,551 shares of the software maker’s stock valued at $2,305,000 after purchasing an additional 46 shares during the period. Blair William & Co. IL boosted its stake in Paycom Software by 3.0% during the 4th quarter. Blair William & Co. IL now owns 3,576 shares of the software maker’s stock valued at $1,485,000 after purchasing an additional 104 shares during the period. ETF Managers Group LLC boosted its stake in Paycom Software by 4.9% during the 4th quarter. ETF Managers Group LLC now owns 1,845 shares of the software maker’s stock valued at $771,000 after purchasing an additional 87 shares during the period. Finally, State Street Corp boosted its stake in Paycom Software by 1.8% during the 4th quarter. State Street Corp now owns 1,939,027 shares of the software maker’s stock valued at $805,065,000 after purchasing an additional 33,886 shares during the period. Institutional investors own 74.43% of the company’s stock.

Insider Activity

In related news, Director Frederick C. Peters II sold 1,000 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $371.17, for a total transaction of $371,170.00. Following the completion of the sale, the director now owns 15,778 shares in the company, valued at approximately $5,856,320.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 15.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PAYC shares. Oppenheimer boosted their target price on shares of Paycom Software from $375.00 to $415.00 in a research note on Thursday, August 11th. DA Davidson lowered shares of Paycom Software from a “buy” rating to a “neutral” rating and set a $360.00 price target for the company. in a research note on Monday, July 25th. Barclays upped their price target on shares of Paycom Software to $339.00 in a research note on Tuesday, August 9th. Piper Sandler upped their price target on shares of Paycom Software from $361.00 to $387.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 3rd. Finally, Stifel Nicolaus upped their price target on shares of Paycom Software from $375.00 to $400.00 in a research note on Wednesday, August 3rd. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $390.67.

Paycom Software Price Performance

Shares of Paycom Software stock opened at $328.46 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.08 and a quick ratio of 1.08. Paycom Software, Inc. has a fifty-two week low of $255.82 and a fifty-two week high of $558.97. The firm has a fifty day moving average price of $352.62 and a two-hundred day moving average price of $320.99. The company has a market cap of $19.72 billion, a PE ratio of 83.58, a price-to-earnings-growth ratio of 3.10 and a beta of 1.46.

Paycom Software (NYSE:PAYCGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The software maker reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Paycom Software had a net margin of 18.85% and a return on equity of 23.38%. The firm had revenue of $316.92 million during the quarter, compared to the consensus estimate of $309.17 million. Analysts expect that Paycom Software, Inc. will post 4.48 EPS for the current year.

Paycom Software declared that its board has authorized a stock repurchase program on Tuesday, June 7th that permits the company to buyback $550.00 million in outstanding shares. This buyback authorization permits the software maker to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Paycom Software Company Profile

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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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