Kentucky Retirement Systems Buys 132 Shares of Paycom Software, Inc. (NYSE:PAYC)

Kentucky Retirement Systems lifted its stake in Paycom Software, Inc. (NYSE:PAYC) by 3.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,476 shares of the software maker’s stock after purchasing an additional 132 shares during the period. Kentucky Retirement Systems’ holdings in Paycom Software were worth $759,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Absher Wealth Management LLC grew its stake in Paycom Software by 94.1% in the 1st quarter. Absher Wealth Management LLC now owns 3,801 shares of the software maker’s stock worth $830,000 after acquiring an additional 1,843 shares in the last quarter. Good Steward Wealth Advisors LLC bought a new position in Paycom Software in the 1st quarter worth about $210,000. PUREfi Wealth LLC grew its stake in Paycom Software by 33.9% in the first quarter. PUREfi Wealth LLC now owns 1,877 shares of the software maker’s stock worth $410,000 after purchasing an additional 475 shares in the last quarter. Grove Bank & Trust grew its stake in Paycom Software by 5.5% in the first quarter. Grove Bank & Trust now owns 6,138 shares of the software maker’s stock worth $1,341,000 after purchasing an additional 322 shares in the last quarter. Finally, QRG Capital Management Inc. bought a new position in Paycom Software in the first quarter worth approximately $528,000. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PAYC has been the topic of a number of recent research reports. KeyCorp increased their price target on Paycom Software from $245.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, May 8th. Piper Sandler increased their target price on shares of Paycom Software from $224.00 to $246.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Stifel Nicolaus increased their target price on shares of Paycom Software from $187.00 to $215.00 and gave the stock a “hold” rating in a report on Thursday, May 8th. Finally, BMO Capital Markets increased their target price on shares of Paycom Software from $215.00 to $244.00 and gave the stock a “market perform” rating in a report on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $226.90.

Paycom Software Price Performance

Shares of PAYC stock opened at $222.74 on Thursday. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $267.76. The stock’s 50-day moving average is $243.56 and its 200 day moving average is $223.04. The company has a market cap of $12.89 billion, a P/E ratio of 31.77, a PEG ratio of 2.59 and a beta of 0.81.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. Paycom Software had a net margin of 20.60% and a return on equity of 25.53%. The business had revenue of $530.50 million for the quarter, compared to analysts’ expectations of $522.92 million. During the same period last year, the business earned $2.59 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. On average, analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were paid a $0.375 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.50 annualized dividend and a yield of 0.67%. Paycom Software’s dividend payout ratio (DPR) is 21.40%.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 120,000 shares of the firm’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $243.52, for a total value of $29,222,400.00. Following the completion of the sale, the chief executive officer now owns 3,307,249 shares of the company’s stock, valued at approximately $805,381,276.48. This trade represents a 3.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Randall Peck sold 890 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total value of $234,256.90. Following the completion of the sale, the chief operating officer now directly owns 49,394 shares of the company’s stock, valued at approximately $13,000,994.74. This represents a 1.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 172,016 shares of company stock worth $42,736,608 over the last three months. Corporate insiders own 10.90% of the company’s stock.

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.