Glenmede Trust Co. NA Has $6.63 Million Holdings in Paycom Software, Inc. (NYSE:PAYC)

Glenmede Trust Co. NA grew its stake in Paycom Software, Inc. (NYSE:PAYC) by 71.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,776 shares of the software maker’s stock after purchasing an additional 16,559 shares during the period. Glenmede Trust Co. NA owned about 0.07% of Paycom Software worth $6,625,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of PAYC. Private Trust Co. NA boosted its stake in shares of Paycom Software by 11.2% in the 3rd quarter. Private Trust Co. NA now owns 526 shares of the software maker’s stock valued at $88,000 after purchasing an additional 53 shares during the last quarter. Wrapmanager Inc. raised its stake in shares of Paycom Software by 2.6% in the third quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock worth $362,000 after purchasing an additional 56 shares during the last quarter. Andina Capital Management LLC boosted its position in shares of Paycom Software by 4.0% during the third quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock valued at $275,000 after buying an additional 63 shares during the last quarter. Davis Investment Partners LLC lifted its stake in Paycom Software by 1.0% during the 3rd quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock valued at $1,067,000 after acquiring an additional 64 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Paycom Software by 26.7% in the third quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock valued at $54,000 after purchasing an additional 68 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Stock Down 1.2 %

PAYC opened at $232.07 on Friday. The business’s fifty day simple moving average is $192.17 and its 200 day simple moving average is $169.59. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $237.33. The stock has a market cap of $13.38 billion, a PE ratio of 27.93, a P/E/G ratio of 3.13 and a beta of 1.14.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be paid a $0.375 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.65%. Paycom Software’s dividend payout ratio (DPR) is 18.05%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Piper Sandler upped their target price on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Barclays boosted their target price 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. TD Cowen upped their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a report on Monday, September 23rd. BMO Capital Markets raised their price target on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group boosted their price objective on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $193.67.

Insider Buying and Selling

In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $160.35, for a total transaction of $312,682.50. Following the transaction, the chief executive officer now directly owns 2,947,658 shares in the company, valued at $472,656,960.30. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 54,600 shares of company stock worth $9,726,717 in the last 90 days. 14.50% of the stock is 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.