Texas Permanent School Fund Corp Sells 1,978 Shares of Paycom Software, Inc. (NYSE:PAYC)

Texas Permanent School Fund Corp decreased its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 19.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,955 shares of the software maker’s stock after selling 1,978 shares during the period. Texas Permanent School Fund Corp’s holdings in Paycom Software were worth $1,138,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Sylebra Capital LLC bought a new position in shares of Paycom Software in the first quarter valued at approximately $253,196,000. ValueAct Holdings L.P. bought a new position in shares of Paycom Software in the fourth quarter valued at approximately $125,686,000. Raymond James & Associates raised its stake in shares of Paycom Software by 769.2% in the second quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock valued at $28,803,000 after acquiring an additional 178,198 shares during the last quarter. Strategic Financial Concepts LLC raised its stake in shares of Paycom Software by 12,268.6% in the second quarter. Strategic Financial Concepts LLC now owns 169,202 shares of the software maker’s stock valued at $242,000 after acquiring an additional 167,834 shares during the last quarter. Finally, Sather Financial Group Inc bought a new position in shares of Paycom Software in the second quarter valued at approximately $23,519,000. Institutional investors own 87.77% of the company’s stock.

Analysts Set New Price Targets

PAYC has been the subject of a number of research analyst reports. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Jefferies Financial Group cut their target price on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Barclays boosted their price objective on shares of Paycom Software from $161.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Finally, Citigroup dropped their price objective on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Seventeen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $178.33.

Paycom Software Stock Performance

PAYC opened at $170.24 on Friday. The company has a fifty day moving average price of $162.09 and a two-hundred day moving average price of $168.28. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $279.96. The firm has a market capitalization of $9.78 billion, a PE ratio of 20.74, a P/E/G ratio of 2.39 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 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.07. Paycom Software had a net margin of 26.55% and a return on equity of 33.36%. The firm had revenue of $437.51 million during the quarter, compared to analyst estimates of $436.19 million. Equities analysts forecast that Paycom Software, Inc. will post 6.67 EPS for the current year.

Paycom Software Dividend Announcement

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

Insider Activity

In other news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $145.48, for a total value of $283,686.00. Following the completion of the transaction, the chief executive officer now owns 3,045,158 shares of the company’s stock, valued at approximately $443,009,585.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Bradley Scott Smith sold 1,524 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $157.62, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $145.48, for a total transaction of $283,686.00. Following the completion of the transaction, the chief executive officer now directly owns 3,045,158 shares of the company’s stock, valued at $443,009,585.84. The disclosure for this sale can be found here. Insiders sold 73,856 shares of company stock valued at $11,532,113 in the last quarter. Company 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.