Van ECK Associates Corp has sold its position in Paycom Software, Inc. (NYSE:PAYC – Free Report) increased 11.0% in the third quarter, according to its latest filing with the Securities and Exchange Commission. The company owned 10,452 shares of the software maker, after acquiring another 1,037 shares during the quarter. Van ECK Associates Corp’s holdings in Paycom Software were worth $1,718,000 at the end of the most recent quarter.
A number of other major investors have also recently changed their ownership in the company. Sylebra Capital LLC increased its position in Paycom Software by 53.9% during the second quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock valued at $279,996,000 after purchasing an additional 685,190 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in Paycom Software by 9.4% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker’s stock worth $152,925,000 after purchasing an additional 92,049 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding SA increased its position in Paycom Software by 14.5% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding SA now owns 626,646 shares of the software maker’s stock worth $124,709,000 after purchasing an additional 79,299 shares during the last quarter. Federated Hermes Inc. increased its position in Paycom Software by 1,011.2% during the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker, valued at $83,244,000, after purchasing an additional 529,591 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Paycom Software by 6.3% in the second 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. 87.77% of the shares are currently held by institutional investors.
Buying and selling with insider information at Paycom Software
In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Monday, August 19. The shares were sold at an average price of $159.79, for a total transaction of $311,590.50. Following the transaction, the CEO now directly owns 2,969,108 shares of the company’s stock, valued at approximately $474,433,767.32. The trade marked a 0.00% decline in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC’s website. Over the last ninety days, insiders have sold 56,550 shares of the company’s stock, valued at $9,648,366. 14.50% of the shares are currently owned by company insiders.
Wall Street analysts predict growth
Several equities research analysts have issued reports on the stock. Piper Sandler raised their target price on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday, October 31. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Jefferies Financial Group raised their target price on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Barclays raised their price objective on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equalweight” rating in a report on Thursday, October 31. Finally, TD Cowen raised their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Paycom Software currently has an average rating of “Hold” and an average target price of $193.67.
Get our latest stock analysis on PAYC
Paycom software stock rises by 0.7%
Shares of NYSE PAYC opened at $228.75 on Monday. The company’s fifty-day moving average is $173.56 and its 200-day moving average is $164.47. The company has a market cap of $13.19 billion, a price-to-earnings ratio of 27.53, a PEG ratio of 3.06, and a beta of 1.14. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $233.69.
Paycom Software announces dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, December 9. Shareholders of record on Monday, November 25 will receive a dividend of $0.375 per share. This represents a dividend of $1.50 annually and a yield of 0.66%. The ex-dividend date of this dividend is Monday, November 25. Paycom Software’s payout ratio currently stands at 18.05%.
Paycom Software Company Profile
(Free report)
Paycom Software, Inc offers a cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized businesses in the United States. It provides functionality and data analytics that companies need to manage the employment lifecycle, from hiring to retirement.
See also
Would you like to see which other hedge funds own PAYC? Visit HoldingsChannel.com for the latest 13F filings and insider transactions for Paycom Software, Inc. (NYSE:PAYC – Free Report).
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