New York State Common Retirement Fund Sells 400 Shares of Paycom Software, Inc. $PAYC

New York State Common Retirement Fund reduced its position in Paycom Software, Inc. (NYSE:PAYC) by 0.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 170,487 shares of the software maker’s stock after selling 400 shares during the period. New York State Common Retirement Fund owned approximately 0.29% of Paycom Software worth $39,451,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. SouthState Corp acquired a new position in Paycom Software during the first quarter worth $27,000. S Bank Fund Management Ltd acquired a new position in shares of Paycom Software during the first quarter valued at about $37,000. Assetmark Inc. increased its position in shares of Paycom Software by 651.9% during the second quarter. Assetmark Inc. now owns 203 shares of the software maker’s stock worth $47,000 after acquiring an additional 176 shares in the last quarter. Brooklyn Investment Group increased its position in shares of Paycom Software by 19.4% during the first quarter. Brooklyn Investment Group now owns 240 shares of the software maker’s stock worth $52,000 after acquiring an additional 39 shares in the last quarter. Finally, Employees Retirement System of Texas acquired a new stake in shares of Paycom Software in the 2nd quarter worth about $55,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Trading Up 0.2%

Shares of Paycom Software stock opened at $161.17 on Monday. The business’s fifty day simple moving average is $188.57 and its 200 day simple moving average is $218.56. Paycom Software, Inc. has a 12 month low of $156.50 and a 12 month high of $267.76. The firm has a market capitalization of $9.07 billion, a P/E ratio of 20.05, a price-to-earnings-growth ratio of 1.75 and a beta of 0.84.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, November 5th. The software maker reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.02). The business had revenue of $493.30 million during the quarter, compared to the consensus estimate of $492.62 million. Paycom Software had a net margin of 22.65% and a return on equity of 24.79%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.67 EPS. Paycom Software has set its FY 2025 guidance at EPS. Analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 8th. Investors of record on Monday, November 24th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, November 24th. Paycom Software’s dividend payout ratio (DPR) is 18.66%.

Insider Buying and Selling

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $223.27, for a total value of $334,905.00. Following the transaction, the insider directly owned 24,533 shares in the company, valued at $5,477,482.91. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 10.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Cantor Fitzgerald upgraded Paycom Software to a “hold” rating in a research note on Thursday, September 11th. Mizuho dropped their target price on Paycom Software from $220.00 to $180.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. JPMorgan Chase & Co. decreased their price target on Paycom Software from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Barclays lowered their price target on Paycom Software from $225.00 to $210.00 and set an “equal weight” rating for the company in a research report on Thursday, November 6th. Finally, KeyCorp cut their price objective on shares of Paycom Software from $290.00 to $250.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $225.77.

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.