California State Teachers Retirement System Reduces Stake in Paycom Software, Inc. $PAYC

California State Teachers Retirement System lowered its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 34.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 60,042 shares of the software maker’s stock after selling 31,164 shares during the period. California State Teachers Retirement System’s holdings in Paycom Software were worth $7,298,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PAYC. Brighton Jones LLC bought a new stake in shares of Paycom Software in the fourth quarter valued at $638,000. AQR Capital Management LLC boosted its position in Paycom Software by 23.7% during the first quarter. AQR Capital Management LLC now owns 19,155 shares of the software maker’s stock worth $4,136,000 after purchasing an additional 3,674 shares during the period. United Services Automobile Association purchased a new position in shares of Paycom Software in the first quarter worth about $215,000. Empowered Funds LLC increased its stake in shares of Paycom Software by 22.8% in the first quarter. Empowered Funds LLC now owns 7,958 shares of the software maker’s stock worth $1,739,000 after purchasing an additional 1,480 shares in the last quarter. Finally, Focus Partners Wealth raised its position in shares of Paycom Software by 220.8% in the first quarter. Focus Partners Wealth now owns 3,940 shares of the software maker’s stock valued at $861,000 after purchasing an additional 2,712 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Performance

Shares of PAYC opened at $175.09 on Wednesday. Paycom Software, Inc. has a 12-month low of $104.90 and a 12-month high of $248.95. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.83. The company has a market cap of $8.34 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 1.43 and a beta of 0.76. The stock has a 50-day moving average price of $140.55 and a 200-day moving average price of $133.50.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, May 6th. The software maker reported $3.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $0.16. Paycom Software had a net margin of 22.44% and a return on equity of 28.34%. The business had revenue of $571.80 million for the quarter, compared to the consensus estimate of $564.37 million. During the same period last year, the firm posted $2.80 earnings per share. Paycom Software’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities analysts forecast that Paycom Software, Inc. will post 9.37 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, August 24th. Paycom Software’s payout ratio is currently 17.34%.

Analyst Ratings Changes

Several research analysts recently commented on PAYC shares. BTIG Research raised their price objective on shares of Paycom Software from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. BMO Capital Markets raised their price target on Paycom Software from $137.00 to $145.00 and gave the stock a “market perform” rating in a report on Thursday, May 7th. Weiss Ratings upgraded Paycom Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 16th. Citigroup increased their price objective on Paycom Software from $120.00 to $136.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Zacks Research raised Paycom Software from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Paycom Software currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.75.

About Paycom Software

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.