New York State Common Retirement Fund Reduces Stake in Paycom Software, Inc. (NYSE:PAYC)

New York State Common Retirement Fund cut its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 6.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 232,170 shares of the software maker’s stock after selling 14,953 shares during the quarter. New York State Common Retirement Fund owned 0.39% of Paycom Software worth $47,994,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. CWM LLC raised its stake in shares of Paycom Software by 34.5% during the 3rd quarter. CWM LLC now owns 1,048 shares of the software maker’s stock valued at $272,000 after buying an additional 269 shares during the last quarter. AE Wealth Management LLC grew its holdings in Paycom Software by 12.7% during the third quarter. AE Wealth Management LLC now owns 1,704 shares of the software maker’s stock worth $442,000 after acquiring an additional 192 shares during the period. Flagship Harbor Advisors LLC raised its position in Paycom Software by 40.3% during the third quarter. Flagship Harbor Advisors LLC now owns 1,330 shares of the software maker’s stock valued at $345,000 after acquiring an additional 382 shares in the last quarter. Oak Thistle LLC purchased a new position in Paycom Software during the third quarter valued at approximately $1,502,000. Finally, Czech National Bank lifted its holdings in Paycom Software by 49.6% in the third quarter. Czech National Bank now owns 8,609 shares of the software maker’s stock valued at $2,232,000 after acquiring an additional 2,855 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Stock Performance

NYSE PAYC opened at $187.96 on Thursday. The business has a fifty day moving average price of $190.02 and a 200 day moving average price of $198.28. The company has a market cap of $10.82 billion, a P/E ratio of 31.86, a P/E/G ratio of 3.21 and a beta of 1.17. Paycom Software, Inc. has a one year low of $146.15 and a one year high of $374.04.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.15. Paycom Software had a net margin of 20.12% and a return on equity of 24.60%. The company had revenue of $434.60 million during the quarter, compared to analysts’ expectations of $422.50 million. During the same quarter in the prior year, the company earned $1.38 EPS. Paycom Software’s revenue was up 17.3% compared to the same quarter last year. As a group, sell-side analysts predict that Paycom Software, Inc. will post 5.73 EPS for the current fiscal year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were given a dividend of $0.375 per share. The ex-dividend date was Friday, March 1st. This represents a $1.50 dividend on an annualized basis and a yield of 0.80%. Paycom Software’s payout ratio is 25.42%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. BTIG Research started coverage on shares of Paycom Software in a research note on Tuesday, February 6th. They set a “neutral” rating on the stock. Citigroup decreased their price objective on shares of Paycom Software from $205.00 to $198.00 and set a “neutral” rating for the company in a research report on Wednesday, January 31st. Piper Sandler raised their target price on Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. lifted their price target on Paycom Software from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $195.00 price target on shares of Paycom Software in a report on Friday, January 5th. Seventeen analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $257.18.

About Paycom Software

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.