Baillie Gifford & Co. Increases Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Baillie Gifford & Co. grew its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 7.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,426 shares of the software maker's stock after purchasing an additional 5,384 shares during the quarter. Baillie Gifford & Co. owned approximately 0.14% of Paycom Software worth $13,230,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Armstrong Advisory Group Inc. acquired a new position in shares of Paycom Software during the 3rd quarter worth approximately $26,000. Ashton Thomas Private Wealth LLC purchased a new stake in Paycom Software in the 2nd quarter worth $25,000. MFA Wealth Advisors LLC purchased a new stake in Paycom Software in the 2nd quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Paycom Software during the second quarter worth $27,000. Finally, Sentry Investment Management LLC purchased a new position in Paycom Software during the second quarter valued at $33,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the firm's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $159.79, for a total transaction of $311,590.50. Following the completion of the sale, the chief executive officer now directly owns 2,969,108 shares of the company's stock, valued at approximately $474,433,767.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 60,450 shares of company stock worth $10,535,480. Insiders own 14.50% of the company's stock.

Paycom Software Price Performance

Shares of PAYC traded down $1.09 during mid-day trading on Wednesday, reaching $227.80. The stock had a trading volume of 427,805 shares, compared to its average volume of 815,313. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $233.69. The firm has a market cap of $13.13 billion, a price-to-earnings ratio of 27.41, a P/E/G ratio of 3.06 and a beta of 1.14. The business's fifty day moving average is $176.21 and its 200 day moving average is $164.88.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.375 per share. The ex-dividend date is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.66%. Paycom Software's dividend payout ratio is currently 18.05%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PAYC. TD Cowen boosted their target price on shares of Paycom Software from $171.00 to $188.00 and gave the stock a "hold" rating in a research note on Monday, September 23rd. Barclays increased their target price on Paycom Software from $172.00 to $181.00 and gave the company an "equal weight" rating in a report on Thursday, October 31st. Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a research note on Thursday, August 1st. BMO Capital Markets increased their price objective on Paycom Software from $183.00 to $197.00 and gave the company a "market perform" rating in a research note on Thursday, October 31st. Finally, Piper Sandler lifted their target price on shares of Paycom Software from $160.00 to $191.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Twelve investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target 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.