State of New Jersey Common Pension Fund D Trims Stock Holdings in Paycom Software, Inc. $PAYC

State of New Jersey Common Pension Fund D trimmed its holdings in Paycom Software, Inc. (NYSE:PAYC) by 3.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 17,839 shares of the software maker’s stock after selling 655 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Paycom Software were worth $4,128,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. SouthState Corp bought a new stake in Paycom Software during the 1st quarter valued at $27,000. von Borstel & Associates Inc. bought a new stake in Paycom Software during the 1st quarter valued at $27,000. Golden State Wealth Management LLC raised its position in Paycom Software by 112.3% during the 1st quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker’s stock valued at $30,000 after purchasing an additional 73 shares in the last quarter. S Bank Fund Management Ltd bought a new stake in Paycom Software during the 1st quarter valued at $37,000. Finally, Brooklyn Investment Group raised its position in Paycom Software by 19.4% during the 1st quarter. Brooklyn Investment Group now owns 240 shares of the software maker’s stock valued at $52,000 after purchasing an additional 39 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $223.27, for a total transaction of $334,905.00. Following the completion of the sale, the insider owned 24,533 shares of the company’s stock, valued at approximately $5,477,482.91. The trade was a 5.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 10.90% of the company’s stock.

Paycom Software Price Performance

Shares of PAYC stock opened at $200.24 on Tuesday. Paycom Software, Inc. has a 1-year low of $165.18 and a 1-year high of $267.76. The stock’s fifty day moving average price is $214.19 and its 200 day moving average price is $228.36. The company has a market cap of $11.59 billion, a price-to-earnings ratio of 27.10, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.28. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The firm had revenue of $483.60 million for the quarter, compared to the consensus estimate of $472.00 million. During the same period in the previous year, the business earned $1.62 EPS. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, equities research analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 25th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, August 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.7%. Paycom Software’s payout ratio is currently 20.30%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PAYC. Cantor Fitzgerald raised Paycom Software to a “hold” rating in a research report on Thursday, September 11th. Zacks Research lowered Paycom Software from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. lifted their price target on Paycom Software from $215.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. TD Cowen upgraded Paycom Software from a “hold” rating to a “buy” rating and lifted their price target for the company from $246.00 to $258.00 in a report on Monday, September 22nd. Finally, Jefferies Financial Group cut their price target on Paycom Software from $250.00 to $225.00 and set a “hold” rating on the stock in a report on Monday, October 13th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Paycom Software has a consensus rating of “Hold” and a consensus price target of $243.69.

Paycom Software 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.