abrdn plc decreased its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 64.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,883 shares of the software maker's stock after selling 6,889 shares during the quarter. abrdn plc's holdings in Paycom Software were worth $647,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Paycom Software by 29.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker's stock valued at $12,848,000 after purchasing an additional 14,670 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Paycom Software by 17.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 59,242 shares of the software maker's stock valued at $11,790,000 after purchasing an additional 8,927 shares during the last quarter. Sylebra Capital LLC purchased a new stake in Paycom Software in the 1st quarter valued at $253,196,000. Profund Advisors LLC purchased a new stake in Paycom Software in the 2nd quarter valued at $589,000. Finally, BOKF NA raised its position in Paycom Software by 453.0% in the 1st quarter. BOKF NA now owns 9,219 shares of the software maker's stock valued at $1,828,000 after purchasing an additional 7,552 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.
Several equities analysts have issued reports on PAYC shares. TD Cowen boosted their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the company a "hold" rating in a research note on Monday, September 23rd. Piper Sandler boosted their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. StockNews.com cut shares of Paycom Software from a "buy" rating to a "hold" rating in a research note on Monday, July 15th. BMO Capital Markets boosted their price objective on shares of 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, Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a research note on Thursday, August 1st. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $193.67.
View Our Latest Analysis on Paycom Software
In related news, insider Bradley Scott Smith sold 1,524 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $157.62, for a total value of $240,212.88. Following the sale, the insider now directly owns 14,769 shares of the company's stock, valued at approximately $2,327,889.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Paycom Software news, insider Bradley Scott Smith sold 1,524 shares of the company's stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $157.62, for a total value of $240,212.88. Following the transaction, the insider now directly owns 14,769 shares in the company, valued at approximately $2,327,889.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Chad R. Richison sold 1,950 shares of the company's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $209.62, for a total transaction of $408,759.00. Following the completion of the transaction, the chief executive officer now owns 2,747,010 shares in the company, valued at approximately $575,828,236.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,906 shares of company stock valued at $11,827,441. Insiders own 14.50% of the company's stock.
Shares of NYSE PAYC opened at $211.46 on Tuesday. The stock has a market cap of $12.14 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 2.97 and a beta of 1.13. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $222.30. The company's 50-day moving average price is $168.50 and its 200 day moving average price is $163.19.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.71%. Paycom Software's payout ratio is 18.05%.
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.
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