Kentucky Retirement Systems Has $565,000 Position in Paycom Software, Inc. (NYSE:PAYC)

Kentucky Retirement Systems reduced its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 6.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,390 shares of the software maker’s stock after selling 233 shares during the quarter. Kentucky Retirement Systems’ holdings in Paycom Software were worth $565,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC acquired a new position in Paycom Software during the second quarter worth $25,000. MFA Wealth Advisors LLC bought a new stake in shares of Paycom Software during the second quarter worth $26,000. Armstrong Advisory Group Inc. bought a new stake in shares of Paycom Software during the third quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Paycom Software during the second quarter worth $27,000. Finally, CVA Family Office LLC grew its holdings in shares of Paycom Software by 234.3% during the second quarter. CVA Family Office LLC now owns 234 shares of the software maker’s stock worth $33,000 after purchasing an additional 164 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on PAYC. Mizuho increased their target price on Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Jefferies Financial Group increased their target price on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Citigroup increased their target price on Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. TD Cowen increased their target price on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Finally, BMO Capital Markets raised their price target on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Twelve research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $193.67.

Paycom Software Trading Down 0.9 %

Shares of PAYC opened at $216.92 on Wednesday. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $233.69. The stock has a market cap of $12.51 billion, a P/E ratio of 26.10, a price-to-earnings-growth ratio of 2.94 and a beta of 1.14. The stock’s 50-day moving average price is $181.34 and its two-hundred day moving average price is $165.99.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is currently 18.05%.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $160.35, for a total transaction of $312,682.50. Following the transaction, the chief executive officer now owns 2,947,658 shares in the company, valued at approximately $472,656,960.30. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 58,500 shares of company stock worth $10,361,228. Insiders own 12.60% 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.