Oppenheimer Asset Management Inc. Has $22.62 Million Position in Paycom Software, Inc. (NYSE:PAYC)

Oppenheimer Asset Management Inc. increased its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 103,546 shares of the software maker's stock after purchasing an additional 1,169 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.18% of Paycom Software worth $22,623,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Glass Jacobson Investment Advisors llc lifted its holdings in shares of Paycom Software by 746.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock valued at $26,000 after acquiring an additional 112 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in shares of Paycom Software during the fourth quarter valued at $30,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Paycom Software by 135.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock valued at $33,000 after acquiring an additional 87 shares during the period. Opal Wealth Advisors LLC bought a new position in shares of Paycom Software during the first quarter valued at $35,000. Finally, Putney Financial Group LLC bought a new position in shares of Paycom Software during the fourth quarter valued at $39,000. 87.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Stifel Nicolaus lifted their price objective on Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a report on Thursday, May 8th. KeyCorp lifted their price objective on Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Piper Sandler lifted their price objective on Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. BMO Capital Markets lifted their price objective on Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a report on Thursday, May 8th. Finally, Wall Street Zen cut Paycom Software from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Paycom Software presently has a consensus rating of "Hold" and an average price target of $226.90.

Insider Buying and Selling

In other news, COO Randall Peck sold 890 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total transaction of $234,256.90. Following the completion of the transaction, the chief operating officer now directly owns 49,394 shares in the company, valued at approximately $13,000,994.74. The trade was a 1.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Chad R. Richison sold 23,200 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $265.20, for a total value of $6,152,640.00. Following the transaction, the chief executive officer now owns 3,224,049 shares of the company's stock, valued at $855,017,794.80. The trade was a 0.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 172,016 shares of company stock worth $42,736,608 over the last three months. 10.90% of the stock is currently owned by company insiders.

Paycom Software Price Performance

Shares of NYSE:PAYC traded up $2.33 during midday trading on Tuesday, reaching $235.30. The company's stock had a trading volume of 547,400 shares, compared to its average volume of 664,427. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $267.76. The company has a market capitalization of $13.61 billion, a P/E ratio of 33.57, a P/E/G ratio of 2.57 and a beta of 0.81. The business's fifty day simple moving average is $243.24 and its 200-day simple moving average is $222.95.

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

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Tuesday, May 27th were given a $0.375 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.50 dividend on an annualized basis and a yield of 0.64%. Paycom Software's payout ratio is 21.40%.

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.