Baillie Gifford & Co. grew its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 7.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,426 shares of the software maker's stock after acquiring an additional 5,384 shares during the quarter. Baillie Gifford & Co. owned about 0.14% of Paycom Software worth $13,230,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the stock. Andina Capital Management LLC increased its position in Paycom Software by 4.0% during the third quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker's stock worth $275,000 after purchasing an additional 63 shares during the last quarter. Davis Investment Partners LLC raised its position in shares of Paycom Software by 1.0% in the 3rd quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker's stock worth $1,067,000 after buying an additional 64 shares during the period. GAMMA Investing LLC boosted its holdings in Paycom Software by 26.7% in the third quarter. GAMMA Investing LLC now owns 323 shares of the software maker's stock valued at $54,000 after acquiring an additional 68 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Paycom Software by 1.7% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,624 shares of the software maker's stock valued at $661,000 after acquiring an additional 79 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in Paycom Software by 37.0% during the first quarter. Advisors Asset Management Inc. now owns 300 shares of the software maker's stock valued at $60,000 after acquiring an additional 81 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.
Paycom Software Stock Performance
NYSE:PAYC opened at $228.89 on Wednesday. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $233.69. The business's 50-day simple moving average is $174.86 and its 200 day simple moving average is $164.60. The stock has a market cap of $13.20 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 3.05 and a beta of 1.14.
Paycom Software Dividend Announcement
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. This represents a $1.50 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Monday, November 25th. Paycom Software's dividend payout ratio (DPR) is currently 18.05%.
Insider Transactions at Paycom Software
In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $159.79, for a total transaction of $311,590.50. Following the transaction, the chief executive officer now directly owns 2,969,108 shares in the company, valued at $474,433,767.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders sold 60,450 shares of company stock valued at $10,535,480. 12.60% of the stock is currently owned by corporate insiders.
Several equities analysts have recently weighed in on PAYC shares. Citigroup lifted their price objective on Paycom Software from $172.00 to $196.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Mizuho boosted their price objective on shares of Paycom Software from $170.00 to $190.00 and gave the stock a "neutral" rating in a research note on Monday, November 4th. TD Cowen raised their target price on shares of Paycom Software from $171.00 to $188.00 and gave the company a "hold" rating in a research note on Monday, September 23rd. Barclays upped their price target on shares of Paycom Software from $172.00 to $181.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a report on Thursday, August 1st. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $193.67.
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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