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

California State Teachers Retirement System reduced its stake in Paycom Software, Inc. (NYSE:PAYC) by 8.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 86,542 shares of the software maker’s stock after selling 8,469 shares during the quarter. California State Teachers Retirement System’s holdings in Paycom Software were worth $17,739,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of PAYC. Private Trust Co. NA grew its position in shares of Paycom Software by 9.3% during the fourth quarter. Private Trust Co. NA now owns 575 shares of the software maker’s stock valued at $118,000 after purchasing an additional 49 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in Paycom Software by 1.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker’s stock valued at $602,000 after buying an additional 51 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in Paycom Software by 1.1% during the 4th quarter. Benjamin Edwards Inc. now owns 5,502 shares of the software maker’s stock valued at $1,128,000 after buying an additional 60 shares in the last quarter. Fiduciary Trust Co increased its stake in Paycom Software by 1.6% in the 4th quarter. Fiduciary Trust Co now owns 4,495 shares of the software maker’s stock worth $921,000 after acquiring an additional 71 shares during the last quarter. Finally, Valley National Advisers Inc. increased its stake in Paycom Software by 0.7% in the 4th quarter. Valley National Advisers Inc. now owns 10,702 shares of the software maker’s stock worth $2,192,000 after acquiring an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Trading Down 1.5%

Shares of PAYC opened at $255.47 on Friday. The company’s fifty day simple moving average is $230.63 and its 200-day simple moving average is $220.53. The company has a market cap of $14.78 billion, a P/E ratio of 28.70, a P/E/G ratio of 2.40 and a beta of 0.80. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $262.80.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.18. The company had revenue of $530.50 million for the quarter, compared to analyst estimates of $522.92 million. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.59 EPS. Analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th will be issued a $0.375 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.50 annualized dividend and a dividend yield of 0.59%. Paycom Software’s payout ratio is 21.40%.

Insider Transactions at Paycom Software

In related news, CEO Chad R. Richison sold 26,426 shares of Paycom Software stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $255.52, for a total transaction of $6,752,371.52. Following the completion of the sale, the chief executive officer now owns 3,277,249 shares in the company, valued at $837,402,664.48. This trade represents a 0.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $201.01, for a total transaction of $603,030.00. Following the completion of the sale, the insider now directly owns 28,733 shares of the company’s stock, valued at approximately $5,775,620.33. This trade represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 149,426 shares of company stock worth $36,577,802. 10.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Piper Sandler increased their target price on Paycom Software from $224.00 to $246.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. KeyCorp increased their price objective on shares of Paycom Software from $245.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Wall Street Zen cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, May 8th. Finally, BMO Capital Markets increased their price target on shares of Paycom Software from $215.00 to $244.00 and gave the company a “market perform” rating in a report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Paycom Software currently has an average rating of “Hold” and an average price target of $226.90.

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.