Teachers Retirement System of The State of Kentucky Sells 145 Shares of Paycom Software, Inc. (NYSE:PAYC)

Teachers Retirement System of The State of Kentucky reduced its holdings in Paycom Software, Inc. (NYSE:PAYC) by 3.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,764 shares of the software maker’s stock after selling 145 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Paycom Software were worth $627,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of PAYC. Ashton Thomas Private Wealth LLC bought a new stake in Paycom Software during the 2nd quarter worth approximately $25,000. Armstrong Advisory Group Inc. acquired a new position in shares of Paycom Software in the third quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Paycom Software during the second quarter worth $27,000. Brooklyn Investment Group acquired a new stake in shares of Paycom Software during the third quarter worth $28,000. Finally, Pin Oak Investment Advisors Inc. raised its holdings in shares of Paycom Software by 73.3% during the third quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after acquiring an additional 77 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Transactions at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $171.30, for a total transaction of $334,035.00. Following the completion of the transaction, the chief executive officer now directly owns 2,805,060 shares in the company, valued at approximately $480,506,778. The trade was a 0.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 44,850 shares of company stock worth $8,107,983 in the last ninety days. Insiders own 14.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PAYC has been the subject of a number of research analyst reports. Mizuho increased their target price on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Jefferies Financial Group upped their price objective on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Piper Sandler lifted their target price on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. BMO Capital Markets upped their price target on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Finally, TD Cowen lifted their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a report on Monday, December 9th. Eleven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Paycom Software currently has a consensus rating of “Hold” and an average target price of $202.56.

Paycom Software Trading Down 10.1 %

NYSE:PAYC opened at $209.49 on Thursday. The stock has a market capitalization of $12.08 billion, a PE ratio of 25.21, a P/E/G ratio of 3.12 and a beta of 1.11. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $242.74. The firm has a fifty day simple moving average of $209.20 and a 200 day simple moving average of $175.09.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date was Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

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.