Public Employees Retirement System of Ohio Decreases Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Public Employees Retirement System of Ohio lessened its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 4.5% during the third quarter, Holdings Channel reports. The institutional investor owned 18,706 shares of the software maker’s stock after selling 886 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Paycom Software were worth $3,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Sylebra Capital LLC boosted its position in Paycom Software by 53.9% during the second quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock worth $279,996,000 after purchasing an additional 685,190 shares during the period. Federated Hermes Inc. lifted its stake in shares of Paycom Software by 1,011.2% during the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock valued at $83,244,000 after buying an additional 529,591 shares in the last quarter. FMR LLC boosted its holdings in Paycom Software by 55.0% in the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after buying an additional 357,723 shares during the period. International Assets Investment Management LLC grew its stake in Paycom Software by 9,997.5% in the 3rd quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock valued at $46,859,000 after buying an additional 278,529 shares in the last quarter. Finally, Confluence Investment Management LLC raised its holdings in Paycom Software by 147.3% during the 3rd quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock valued at $62,943,000 after acquiring an additional 225,081 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Trading Down 1.0 %

Shares of NYSE PAYC opened at $232.06 on Tuesday. The stock has a market cap of $13.38 billion, a price-to-earnings ratio of 27.93, a P/E/G ratio of 3.12 and a beta of 1.11. The stock’s 50-day moving average is $205.46 and its 200 day moving average is $173.71. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $242.74.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were paid a $0.375 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.65%. Paycom Software’s dividend payout ratio (DPR) is 18.05%.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $229.09, for a total value of $446,725.50. Following the transaction, the chief executive officer now directly owns 2,731,410 shares of the company’s stock, valued at $625,738,716.90. The trade was a 0.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 46,800 shares of company stock valued at $8,439,854. Insiders own 14.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PAYC shares. Jefferies Financial Group lifted their price target on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. TD Cowen lifted their target price on Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a report on Monday, December 9th. BMO Capital Markets raised their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. StockNews.com raised shares of Paycom Software from a “hold” rating to a “buy” rating in a report on Monday. Finally, Citigroup increased their target price on shares of Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Eleven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $202.56.

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.