New Mexico Educational Retirement Board boosted its holdings in Paycom Software, Inc. (NYSE:PAYC – Free Report) by 4.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,350 shares of the software maker’s stock after acquiring an additional 100 shares during the period. New Mexico Educational Retirement Board’s holdings in Paycom Software were worth $755,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also added to or reduced their stakes in PAYC. Fairfield Bush & CO. bought a new position in Paycom Software during the 1st quarter worth $48,000. Cetera Advisor Networks LLC boosted its stake in Paycom Software by 15.4% in the first quarter. Cetera Advisor Networks LLC now owns 771 shares of the software maker’s stock valued at $267,000 after buying an additional 103 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Paycom Software by 356.2% in the first quarter. Acadian Asset Management LLC now owns 406 shares of the software maker’s stock valued at $140,000 after buying an additional 317 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in Paycom Software by 62.1% in the first quarter. Panagora Asset Management Inc. now owns 3,740 shares of the software maker’s stock valued at $1,295,000 after buying an additional 1,433 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Paycom Software by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,443 shares of the software maker’s stock valued at $2,232,000 after buying an additional 401 shares in the last quarter. Institutional investors own 88.69% of the company’s stock.
Paycom Software Stock Performance
NYSE:PAYC opened at $260.00 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.02. The stock has a market cap of $15.72 billion, a P/E ratio of 47.71, a PEG ratio of 1.79 and a beta of 1.44. The business’s 50-day moving average price is $292.16 and its two-hundred day moving average price is $298.01. Paycom Software, Inc. has a twelve month low of $252.12 and a twelve month high of $374.04.
Paycom Software Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Monday, August 28th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Friday, August 25th. Paycom Software’s payout ratio is presently 27.52%.
Wall Street Analyst Weigh In
PAYC has been the topic of several research reports. Credit Suisse Group boosted their price target on Paycom Software from $375.00 to $395.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Barclays cut their price objective on Paycom Software from $368.00 to $350.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 2nd. Stifel Nicolaus lifted their price objective on Paycom Software from $380.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. William Blair initiated coverage on Paycom Software in a research note on Wednesday, June 28th. They issued an “outperform” rating on the stock. Finally, TheStreet lowered Paycom Software from a “b-” rating to a “c+” rating in a research note on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $384.53.
Read Our Latest Report on PAYC
Insider Activity
In other news, EVP Christopher Gene Thomas sold 320 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $290.05, for a total value of $92,816.00. Following the completion of the transaction, the executive vice president now owns 26,154 shares in the company, valued at approximately $7,585,967.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Paycom Software news, EVP Christopher Gene Thomas sold 320 shares of Paycom Software stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $290.05, for a total transaction of $92,816.00. Following the completion of the transaction, the executive vice president now owns 26,154 shares in the company, valued at $7,585,967.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jason D. Clark sold 130 shares of Paycom Software stock in a transaction on Friday, September 8th. The shares were sold at an average price of $287.36, for a total value of $37,356.80. Following the transaction, the director now owns 4,970 shares of the company’s stock, valued at approximately $1,428,179.20. The disclosure for this sale can be found here. 14.50% of the stock is currently owned by company insiders.
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.
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