California State Teachers Retirement System Cuts Stake in Paycom Software, Inc. (NYSE:PAYC)

California State Teachers Retirement System lessened its position in Paycom Software, Inc. (NYSE:PAYC – Get Rating) by 1.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 83,277 shares of the software maker’s stock after selling 967 shares during the period. California State Teachers Retirement System’s holdings in Paycom Software were worth $27,481,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PAYC. Vanguard Group Inc. boosted its holdings in Paycom Software by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,672,472 shares of the software maker’s stock valued at $1,871,858,000 after purchasing an additional 61,819 shares in the last quarter. State Street Corp boosted its stake in shares of Paycom Software by 1.3% in the third quarter. State Street Corp now owns 1,849,465 shares of the software maker’s stock valued at $610,305,000 after buying an additional 23,413 shares in the last quarter. Wellington Management Group LLP grew its holdings in Paycom Software by 8.7% during the first quarter. Wellington Management Group LLP now owns 1,359,073 shares of the software maker’s stock worth $470,756,000 after acquiring an additional 108,505 shares during the period. Goldman Sachs Group Inc. raised its position in Paycom Software by 10.4% in the second quarter. Goldman Sachs Group Inc. now owns 969,474 shares of the software maker’s stock worth $271,570,000 after acquiring an additional 91,650 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Paycom Software by 7.2% in the first quarter. Invesco Ltd. now owns 845,202 shares of the software maker’s stock valued at $292,764,000 after acquiring an additional 56,649 shares during the period. 88.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Moffett Nathanson assumed coverage on shares of Paycom Software in a research note on Monday, January 9th. They set an “underperform” rating and a $310.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $450.00 target price on shares of Paycom Software in a report on Wednesday, February 8th. Deutsche Bank Aktiengesellschaft decreased their price target on Paycom Software from $425.00 to $400.00 and set a “buy” rating on the stock in a research note on Monday, January 23rd. Oppenheimer raised their price objective on Paycom Software from $360.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, February 8th. Finally, StockNews.com assumed coverage on Paycom Software in a research report on Thursday. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Paycom Software has an average rating of “Moderate Buy” and an average price target of $387.00.

Insiders Place Their Bets

In other Paycom Software news, Director Jason D. Clark sold 1,070 shares of the stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $278.33, for a total transaction of $297,813.10. Following the transaction, the director now owns 4,741 shares of the company’s stock, valued at approximately $1,319,562.53. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 15.20% of the stock is owned by corporate insiders.

Paycom Software Trading Down 1.1 %

Paycom Software stock opened at $276.94 on Friday. The stock has a 50-day moving average price of $305.81 and a 200 day moving average price of $319.78. Paycom Software, Inc. has a 52 week low of $255.82 and a 52 week high of $402.78. The stock has a market cap of $16.71 billion, a PE ratio of 57.10, a P/E/G ratio of 1.86 and a beta of 1.39. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.02.

Paycom Software (NYSE:PAYC – Get Rating) last issued its quarterly earnings results on Tuesday, February 7th. The software maker reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.24. The business had revenue of $370.61 million during the quarter, compared to the consensus estimate of $366.71 million. Paycom Software had a net margin of 20.46% and a return on equity of 25.62%. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 earnings per share. Equities research analysts predict that Paycom Software, Inc. will post 5.98 earnings per share for the current fiscal year.

About Paycom Software

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Paycom Software, Inc engages in the provision of cloud-based human capital management (HCM) software solutions delivered as Software-as-a-Service. It offers functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. Its solutions include talent acquisition, time and labor management, payroll, talent management, and human resource management.