Arizona State Retirement System Boosts Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Arizona State Retirement System raised its stake in Paycom Software, Inc. (NYSE:PAYC) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,013 shares of the software maker’s stock after purchasing an additional 429 shares during the quarter. Arizona State Retirement System’s holdings in Paycom Software were worth $3,077,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Private Trust Co. NA lifted its holdings 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 worth $118,000 after purchasing an additional 49 shares during the period. Oppenheimer & Co. Inc. lifted its stake in shares of Paycom Software by 1.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker’s stock worth $602,000 after acquiring an additional 51 shares during the period. Wrapmanager Inc. lifted its stake in shares of Paycom Software by 2.6% in the 3rd quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock worth $362,000 after acquiring an additional 56 shares during the period. Michael S. Ryan Inc. boosted its holdings in shares of Paycom Software by 2.5% in the fourth quarter. Michael S. Ryan Inc. now owns 2,796 shares of the software maker’s stock valued at $573,000 after acquiring an additional 68 shares in the last quarter. Finally, Valley National Advisers Inc. increased its stake in shares of Paycom Software by 0.7% during the fourth 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 period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Buying and Selling at Paycom Software

In related news, Director J C. Watts, Jr. sold 500 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $218.22, for a total transaction of $109,110.00. Following the transaction, the director now owns 7,730 shares of the company’s stock, valued at approximately $1,686,840.60. This represents a 6.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Randall Peck sold 3,600 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $212.19, for a total transaction of $763,884.00. Following the transaction, the chief operating officer now directly owns 50,665 shares in the company, valued at $10,750,606.35. The trade was a 6.63 % decrease in their position. The disclosure for this sale can be found here. 14.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on PAYC shares. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, February 13th. Citigroup decreased their price target on Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Stifel Nicolaus cut their price objective 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. Piper Sandler boosted their target price on shares of Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. increased their price target on shares of Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Twelve research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $209.22.

Paycom Software Stock Up 4.6 %

Paycom Software stock opened at $213.03 on Monday. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $242.74. The firm’s 50-day simple moving average is $208.61 and its 200 day simple moving average is $198.19. The firm has a market capitalization of $12.20 billion, a PE ratio of 23.94, a P/E/G ratio of 2.40 and a beta of 1.14.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. On average, research analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

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

About Paycom Software

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.