Teachers Retirement System of The State of Kentucky Has $627,000 Stake in Paycom Software, Inc. (NYSE:PAYC)

Teachers Retirement System of The State of Kentucky reduced its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PAYC. Armstrong Advisory Group Inc. acquired a new stake in shares of Paycom Software during the 3rd quarter worth about $26,000. Brooklyn Investment Group bought a new stake in Paycom Software during the third quarter worth about $28,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Paycom Software during the second quarter worth approximately $25,000. Pin Oak Investment Advisors Inc. raised its stake in shares of Paycom Software by 73.3% in the third quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock valued at $30,000 after acquiring an additional 77 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Paycom Software in the 2nd quarter worth approximately $27,000. 87.77% of the stock is owned by institutional investors.

Insider Transactions at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $229.09, for a total value of $446,725.50. Following the sale, the chief executive officer now directly owns 2,731,410 shares in the company, valued at $625,738,716.90. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 44,850 shares of company stock worth $8,107,983 in the last three months. Insiders own 14.50% of the company’s stock.

Paycom Software Price Performance

Shares of NYSE PAYC opened at $209.49 on Thursday. The company’s 50 day simple moving average is $209.20 and its 200 day simple moving average is $175.09. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $242.74. The firm has a market capitalization of $12.08 billion, a P/E ratio of 25.21, a P/E/G ratio of 3.12 and a beta of 1.11.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were paid 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 currently 18.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PAYC shares. Jefferies Financial Group raised their price target on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Citigroup raised their target price on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. BMO Capital Markets upped their price target on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Barclays raised their price objective on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, StockNews.com upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a research report on Monday. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $202.56.

Paycom Software 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.