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

Kentucky Retirement Systems lowered its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 6.4% during the third quarter, HoldingsChannel reports. The firm 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.

A number of other hedge funds also recently modified their holdings of the business. Andina Capital Management LLC raised its position in Paycom Software by 4.0% in the 3rd quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock valued at $275,000 after buying an additional 63 shares during the last quarter. Davis Investment Partners LLC raised its position in Paycom Software by 1.0% in the 3rd quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock valued at $1,067,000 after buying an additional 64 shares during the last quarter. GAMMA Investing LLC raised its position in Paycom Software by 26.7% in the 3rd quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock valued at $54,000 after buying an additional 68 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Paycom Software by 1.7% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,624 shares of the software maker’s stock valued at $661,000 after buying an additional 79 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in Paycom Software by 37.0% in the 1st quarter. Advisors Asset Management Inc. now owns 300 shares of the software maker’s stock valued at $60,000 after buying an additional 81 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PAYC shares. TD Cowen lifted their target price on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Jefferies Financial Group lifted their target price on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Mizuho boosted their price target on Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Finally, Citigroup boosted their price target on Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $193.67.

Insider Transactions at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $160.35, for a total value of $312,682.50. Following the completion of the sale, the chief executive officer now directly owns 2,947,658 shares in the company, valued at $472,656,960.30. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders sold 58,500 shares of company stock worth $10,361,228. 12.60% of the stock is owned by company insiders.

Paycom Software Trading Down 0.9 %

Shares of NYSE PAYC opened at $216.92 on Wednesday. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $233.69. The stock has a 50 day moving average of $181.34 and a 200-day moving average of $165.99. The company has a market capitalization of $12.51 billion, a P/E ratio of 26.10, a P/E/G ratio of 2.94 and a beta of 1.14.

Paycom Software Announces Dividend

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

About Paycom Software

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.