Paycom Software, Inc. (NYSE:PAYC) Shares Bought by Baillie Gifford & Co.

Baillie Gifford & Co. lifted its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 7.3% during the third quarter, Holdings Channel reports. The firm owned 79,426 shares of the software maker’s stock after buying an additional 5,384 shares during the period. Baillie Gifford & Co.’s holdings in Paycom Software were worth $13,230,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in PAYC. Sylebra Capital LLC increased its position in Paycom Software by 53.9% in the second quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock worth $279,996,000 after buying an additional 685,190 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in Paycom Software by 9.4% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker’s stock valued at $152,925,000 after purchasing an additional 92,049 shares during the last quarter. Federated Hermes Inc. boosted its stake in Paycom Software by 1,011.2% during the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock valued at $83,244,000 after purchasing an additional 529,591 shares during the period. Bank of New York Mellon Corp grew its position in Paycom Software by 6.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 455,271 shares of the software maker’s stock worth $65,122,000 after purchasing an additional 26,934 shares during the last quarter. Finally, Confluence Investment Management LLC increased its stake in shares of Paycom Software by 147.3% in the third quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock valued at $62,943,000 after purchasing an additional 225,081 shares during the period. Institutional investors own 87.77% of the company’s stock.

Insider Buying and Selling

In other news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $158.66, for a total transaction of $309,387.00. Following the sale, the chief executive officer now owns 2,973,008 shares in the company, valued at $471,697,449.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 60,450 shares of company stock worth $10,535,480 in the last three months. 12.60% of the stock is currently owned by insiders.

Paycom Software Trading Up 0.5 %

NYSE:PAYC opened at $228.89 on Wednesday. The company has a 50-day moving average of $174.86 and a 200-day moving average of $164.60. The firm 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, Inc. has a twelve month low of $139.50 and a twelve month high of $233.69.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be given a $0.375 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.50 annualized dividend and a yield of 0.66%. Paycom Software’s dividend payout ratio (DPR) is 18.05%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PAYC shares. Barclays boosted their price objective on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. TD Cowen increased their price target on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Citigroup raised their price target on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Piper Sandler upped their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Paycom Software has an average rating of “Hold” and an average target price of $193.67.

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.