Oppenheimer Asset Management Inc. Acquires Shares of 21,365 Paycom Software, Inc. $PAYC

Key Points

• Oppenheimer Asset Management acquired 21,365 Paycom shares worth approximately $2.685 million, while institutional investors collectively own 87.77% of the company.
• Paycom exceeded quarterly expectations, reporting $2.78 in EPS versus $2.38 expected and $531.2 million in revenue, up 9.8% year over year. Analysts raised several price targets, though the consensus rating remains Hold with a $204.69 target.
• Paycom declared a quarterly dividend of $0.375 per share, equivalent to $1.50 annually and a 0.7% yield; shares opened at $217.60 and remain near their 12-month high of $234.60.

Oppenheimer Asset Management Inc. acquired a new position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 21,365 shares of the software maker's stock, valued at approximately $2,685,000.

Several other hedge funds also recently made changes to their positions in the company. CYBER HORNET ETFs LLC acquired a new position in shares of Paycom Software during the second quarter worth about $29,000. MUFG Securities EMEA plc purchased a new position in Paycom Software during the second quarter worth about $33,000. Brown Brothers Harriman & Co. lifted its position in Paycom Software by 190.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 154 shares of the software maker's stock valued at $25,000 after purchasing an additional 101 shares during the period. Palisade Asset Management LLC acquired a new stake in Paycom Software in the third quarter valued at about $33,000. Finally, Clearstead Advisors LLC boosted its holdings in Paycom Software by 140.3% in the 4th quarter. Clearstead Advisors LLC now owns 161 shares of the software maker's stock valued at $26,000 after purchasing an additional 94 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

Paycom Software Stock Down 2.7%

PAYC stock opened at $217.60 on Friday. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.07 and a quick ratio of 1.07. The company's 50 day simple moving average is $151.95 and its 200-day simple moving average is $136.99. Paycom Software, Inc. has a 12 month low of $104.90 and a 12 month high of $234.60. The firm has a market capitalization of $9.81 billion, a PE ratio of 23.12, a P/E/G ratio of 1.23 and a beta of 0.76.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.40. Paycom Software had a return on equity of 37.06% and a net margin of 22.78%.The firm had revenue of $531.20 million during the quarter, compared to the consensus estimate of $513.12 million. During the same period in the previous year, the firm posted $2.06 EPS. The company's quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts expect that Paycom Software, Inc. will post 10.48 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.50 annualized dividend and a yield of 0.7%. Paycom Software's dividend payout ratio (DPR) is presently 15.94%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. UBS Group boosted their target price on Paycom Software from $195.00 to $205.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Guggenheim lifted their price target on Paycom Software from $180.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. BTIG Research lifted their price target on Paycom Software from $160.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. TD Cowen upped their price objective on Paycom Software from $149.00 to $244.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Finally, KeyCorp increased their price objective on Paycom Software from $195.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $204.69.

Paycom Software Company Profile

Paycom Software, Inc NYSE: PAYC is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom's software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company's core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.

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