Baillie Gifford & Co. Purchases Shares of 74,042 Paycom Software, Inc. (NYSE:PAYC)

Baillie Gifford & Co. acquired a new position in shares of Paycom Software, Inc. (NYSE:PAYC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 74,042 shares of the software maker’s stock, valued at approximately $10,591,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sylebra Capital LLC acquired a new stake in shares of Paycom Software in the first quarter worth approximately $253,196,000. ValueAct Holdings L.P. acquired a new stake in shares of Paycom Software during the 4th quarter worth $125,686,000. Raymond James & Associates raised its position in shares of Paycom Software by 769.2% in the 2nd quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock worth $28,803,000 after buying an additional 178,198 shares during the period. Sather Financial Group Inc acquired a new position in Paycom Software in the second quarter valued at $23,519,000. Finally, Jacobs Levy Equity Management Inc. grew its position in Paycom Software by 145.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 268,692 shares of the software maker’s stock valued at $53,472,000 after acquiring an additional 159,435 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Performance

Shares of NYSE:PAYC traded up $3.09 during trading on Friday, hitting $163.23. The company’s stock had a trading volume of 582,722 shares, compared to its average volume of 850,167. The company has a market capitalization of $9.49 billion, a PE ratio of 19.88, a PEG ratio of 2.22 and a beta of 1.16. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $299.00. The stock’s 50-day moving average price is $153.21 and its two-hundred day moving average price is $171.26.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 9th. Shareholders of record on Monday, August 26th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Monday, August 26th. Paycom Software’s payout ratio is 18.27%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Barclays lifted their price objective on Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Citigroup reduced their price target on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 18th. Jefferies Financial Group dropped their price objective on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, June 24th. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Finally, Mizuho lowered their price target on Paycom Software from $185.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Seventeen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Paycom Software currently has an average rating of “Hold” and an average price target of $178.33.

Insider Activity

In related news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $168.51, for a total value of $328,594.50. Following the completion of the sale, the chief executive officer now owns 3,080,258 shares in the company, valued at $519,054,275.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Amy Vickroy sold 1,381 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $143.39, for a total transaction of $198,021.59. Following the sale, the executive vice president now directly owns 19,962 shares of the company’s stock, valued at approximately $2,862,351.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $168.51, for a total transaction of $328,594.50. Following the sale, the chief executive officer now owns 3,080,258 shares of the company’s stock, valued at approximately $519,054,275.58. The disclosure for this sale can be found here. In the last three months, insiders sold 78,093 shares of company stock worth $11,942,223. 14.50% of the stock is currently owned by insiders.

Paycom Software 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.