Kentucky Retirement Systems Reduces Position in Paycom Software, Inc. (NYSE:PAYC)

Kentucky Retirement Systems decreased its holdings in Paycom Software, Inc. (NYSE:PAYC) by 5.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,924 shares of the software maker’s stock after selling 241 shares during the quarter. Kentucky Retirement Systems’ holdings in Paycom Software were worth $811,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hexagon Capital Partners LLC boosted its holdings in shares of Paycom Software by 333.3% during the 4th quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock valued at $27,000 after acquiring an additional 100 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Paycom Software by 83.5% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock valued at $40,000 after acquiring an additional 71 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Paycom Software during the 4th quarter valued at about $49,000. Headlands Technologies LLC purchased a new stake in shares of Paycom Software during the 3rd quarter valued at about $52,000. Finally, Operose Advisors LLC purchased a new stake in shares of Paycom Software during the 3rd quarter valued at about $55,000. Institutional investors own 87.77% of the company’s stock.

Paycom Software Price Performance

Shares of PAYC opened at $179.58 on Wednesday. Paycom Software, Inc. has a 1 year low of $146.15 and a 1 year high of $374.04. The company has a 50 day simple moving average of $188.21 and a two-hundred day simple moving average of $189.05. The firm has a market cap of $10.44 billion, a P/E ratio of 21.87, a price-to-earnings-growth ratio of 2.83 and a beta of 1.17.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Friday, May 24th. Paycom Software’s dividend payout ratio (DPR) is currently 18.27%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. BMO Capital Markets lowered their price objective on shares of Paycom Software from $200.00 to $190.00 and set a “market perform” rating on the stock in a research note on Thursday, May 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, May 2nd. Mizuho lowered their price objective on shares of Paycom Software from $185.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Finally, Barclays lowered their price objective on shares of Paycom Software from $193.00 to $184.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Seventeen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Paycom Software has a consensus rating of “Hold” and an average price target of $246.31.

Insider Buying and Selling at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $179.78, for a total value of $350,571.00. Following the completion of the transaction, the chief executive officer now directly owns 3,090,008 shares of the company’s stock, valued at $555,521,638.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 12.60% of the company’s stock.

Paycom Software Company Profile

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.