Logan Capital Management Inc. Decreases Stake in Paycom Software, Inc. (NYSE:PAYC)

Logan Capital Management Inc. reduced its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 2.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,583 shares of the software maker’s stock after selling 960 shares during the quarter. Logan Capital Management Inc. owned 0.07% of Paycom Software worth $7,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Private Trust Co. NA lifted its stake in Paycom Software by 11.2% during the 3rd quarter. Private Trust Co. NA now owns 526 shares of the software maker’s stock valued at $88,000 after acquiring an additional 53 shares during the period. Wrapmanager Inc. lifted its position in Paycom Software by 2.6% during the third quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock valued at $362,000 after purchasing an additional 56 shares during the period. Andina Capital Management LLC boosted its holdings in Paycom Software by 4.0% in 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 grew its position in 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 purchasing an additional 64 shares during the period. Finally, GAMMA Investing LLC raised its stake in Paycom Software by 26.7% during the 3rd quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock valued at $54,000 after buying an additional 68 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Stock Performance

Shares of PAYC traded down $1.63 during mid-day trading on Friday, reaching $238.37. The stock had a trading volume of 14,107 shares, compared to its average volume of 786,340. The firm has a market cap of $13.74 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 3.20 and a beta of 1.11. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $242.74. The business has a fifty day moving average of $204.13 and a 200 day moving average of $173.15.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 25th were paid a $0.375 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.63%. Paycom Software’s payout ratio is presently 18.05%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Piper Sandler raised their price target on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Barclays boosted their price target on Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. BMO Capital Markets increased their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Citigroup boosted their target price on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group upped their target price on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $202.56.

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $170.19, for a total value of $331,870.50. Following the transaction, the chief executive officer now owns 2,810,910 shares of the company’s stock, valued at approximately $478,388,772.90. The trade was a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 48,750 shares of company stock valued at $8,771,880 over the last ninety days. 14.50% of the stock is currently owned by company insiders.

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.