State of New Jersey Common Pension Fund D Sells 15,026 Shares of Paycom Software, Inc. (NYSE:PAYC)

State of New Jersey Common Pension Fund D lowered its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 44.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,828 shares of the software maker’s stock after selling 15,026 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Paycom Software were worth $2,693,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Empirical Finance LLC increased its position in shares of Paycom Software by 3.9% during the first quarter. Empirical Finance LLC now owns 1,580 shares of the software maker’s stock valued at $314,000 after acquiring an additional 60 shares in the last quarter. Optas LLC boosted its holdings in Paycom Software by 6.1% in the first quarter. Optas LLC now owns 1,059 shares of the software maker’s stock worth $211,000 after purchasing an additional 61 shares during the last quarter. Wahed Invest LLC boosted its holdings in Paycom Software by 7.9% in the fourth quarter. Wahed Invest LLC now owns 877 shares of the software maker’s stock worth $181,000 after purchasing an additional 64 shares during the last quarter. Andina Capital Management LLC boosted its holdings in Paycom Software by 4.5% in the second quarter. Andina Capital Management LLC now owns 1,588 shares of the software maker’s stock worth $227,000 after purchasing an additional 68 shares during the last quarter. Finally, Independent Advisor Alliance boosted its holdings in Paycom Software by 4.3% in the fourth quarter. Independent Advisor Alliance now owns 1,931 shares of the software maker’s stock worth $399,000 after purchasing an additional 79 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Performance

PAYC opened at $170.94 on Thursday. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $279.96. The firm’s fifty day moving average is $161.09 and its 200 day moving average is $168.30. The stock has a market cap of $9.93 billion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 2.37 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. The company had revenue of $437.51 million for the quarter, compared to analysts’ expectations of $436.19 million. Paycom Software had a net margin of 26.55% and a return on equity of 33.36%. On average, equities research analysts predict that Paycom Software, Inc. will post 6.67 earnings per share for the current year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Monday, August 26th. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PAYC shares. TD Cowen raised their target price on shares of Paycom Software from $147.00 to $171.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Jefferies Financial Group dropped their target price on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a report on Monday, June 24th. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Finally, Barclays lifted their price target on shares of Paycom Software from $161.00 to $167.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Seventeen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $178.33.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 1,524 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $157.62, for a total transaction of $240,212.88. Following the completion of the transaction, the insider now owns 14,769 shares of the company’s stock, valued at approximately $2,327,889.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Paycom Software news, insider Bradley Scott Smith sold 1,524 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $157.62, for a total transaction of $240,212.88. Following the completion of the transaction, the insider now owns 14,769 shares of the company’s stock, valued at approximately $2,327,889.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $145.48, for a total transaction of $283,686.00. Following the sale, the chief executive officer now owns 3,045,158 shares in the company, valued at $443,009,585.84. The disclosure for this sale can be found here. Insiders sold 71,906 shares of company stock valued at $11,200,243 in the last 90 days. Insiders own 14.50% of the company’s stock.

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.