New York State Common Retirement Fund Sells 500 Shares of Paycom Software, Inc. (NYSE:PAYC)

New York State Common Retirement Fund trimmed its position in Paycom Software, Inc. (NYSE:PAYC) by 0.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 172,387 shares of the software maker’s stock after selling 500 shares during the period. New York State Common Retirement Fund owned 0.30% of Paycom Software worth $35,334,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of PAYC. Brooklyn Investment Group bought a new position in shares of Paycom Software in the 3rd quarter valued at $28,000. Pin Oak Investment Advisors Inc. raised its position in Paycom Software by 73.3% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after purchasing an additional 77 shares during the last quarter. First Horizon Advisors Inc. raised its position in Paycom Software by 821.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock worth $35,000 after purchasing an additional 189 shares during the last quarter. Blue Trust Inc. raised its position in Paycom Software by 277.1% during the 3rd quarter. Blue Trust Inc. now owns 264 shares of the software maker’s stock worth $44,000 after purchasing an additional 194 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Paycom Software during the 3rd quarter worth $79,000. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Price Performance

Shares of PAYC opened at $214.22 on Friday. The company has a market cap of $12.35 billion, a PE ratio of 24.07, a P/E/G ratio of 2.48 and a beta of 1.15. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $242.74. The stock has a 50-day moving average of $208.35 and a 200-day moving average of $193.15.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. Analysts expect that Paycom Software, Inc. will post 6.9 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be given a dividend of $0.375 per share. The ex-dividend date is Monday, March 10th. This represents a $1.50 annualized dividend and a dividend yield of 0.70%. Paycom Software’s dividend payout ratio is currently 16.85%.

Analysts Set New Price Targets

PAYC has been the subject of several analyst reports. TD Cowen raised their target price on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Piper Sandler raised their target price on Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, February 13th. Citigroup lowered their target price on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Stifel Nicolaus lowered their target price on Paycom Software from $215.00 to $187.00 and set a “hold” rating for the company in a research report on Thursday, February 13th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Paycom Software presently has an average rating of “Hold” and a consensus target price of $209.22.

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.