Oppenheimer Asset Management Inc. Buys 1,169 Shares of Paycom Software, Inc. (NYSE:PAYC)

Oppenheimer Asset Management Inc. lifted its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 1.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,546 shares of the software maker's stock after acquiring an additional 1,169 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.18% of Paycom Software worth $22,623,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. FMR LLC lifted its position in Paycom Software by 137.8% during the fourth quarter. FMR LLC now owns 2,396,452 shares of the software maker's stock valued at $491,201,000 after buying an additional 1,388,533 shares during the period. Sylebra Capital LLC increased its stake in shares of Paycom Software by 63.8% during the fourth quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker's stock valued at $658,996,000 after purchasing an additional 1,252,617 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Paycom Software by 1,153.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker's stock valued at $82,375,000 after purchasing an additional 369,825 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Paycom Software in the 4th quarter worth approximately $63,923,000. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of Paycom Software in the 4th quarter worth approximately $60,882,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Insider Transactions at Paycom Software

In other Paycom Software news, COO Randall Peck sold 890 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total transaction of $234,256.90. Following the completion of the sale, the chief operating officer now directly owns 49,394 shares of the company's stock, valued at approximately $13,000,994.74. This represents a 1.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $249.96, for a total transaction of $374,940.00. Following the transaction, the insider now owns 27,233 shares in the company, valued at $6,807,160.68. This represents a 5.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 172,016 shares of company stock worth $42,736,608 in the last ninety days. Insiders own 10.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PAYC. KeyCorp raised their price objective on Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. BMO Capital Markets raised their price target on Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a report on Thursday, May 8th. Piper Sandler lifted their price target on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Wall Street Zen downgraded shares of Paycom Software from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Finally, Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a research note on Thursday, May 8th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $226.90.

Paycom Software Trading Up 1.4%

NYSE:PAYC traded up $3.19 during mid-day trading on Thursday, reaching $225.98. The company's stock had a trading volume of 853,693 shares, compared to its average volume of 664,466. The stock has a market cap of $13.07 billion, a P/E ratio of 32.24, a PEG ratio of 2.45 and a beta of 0.81. The firm's fifty day moving average price is $243.69 and its two-hundred day moving average price is $223.03. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $267.76.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.18. The firm had revenue of $530.50 million during the quarter, compared to analysts' expectations of $522.92 million. Paycom Software had a net margin of 20.60% and a return on equity of 25.53%. The firm's quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.59 earnings per share. Analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.50 annualized dividend and a dividend yield of 0.66%. Paycom Software's payout ratio is 21.40%.

About Paycom Software

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.