Oppenheimer & Co. Inc. Purchases 4,395 Shares of Paycom Software, Inc. (NYSE:PAYC)

Oppenheimer & Co. Inc. raised its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 149.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,334 shares of the software maker's stock after buying an additional 4,395 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Paycom Software were worth $1,602,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Sylebra Capital LLC increased its stake in shares of Paycom Software by 63.8% in the 4th 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 during the last quarter. FMR LLC grew its position in Paycom Software by 137.8% in the fourth quarter. FMR LLC now owns 2,396,452 shares of the software maker's stock valued at $491,201,000 after acquiring an additional 1,388,533 shares during the last quarter. Geode Capital Management LLC raised its stake in Paycom Software by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 1,516,768 shares of the software maker's stock worth $310,245,000 after acquiring an additional 89,848 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Paycom Software by 10.9% in the fourth quarter. Northern Trust Corp now owns 724,016 shares of the software maker's stock worth $148,402,000 after acquiring an additional 70,897 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Paycom Software by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 498,073 shares of the software maker's stock valued at $102,090,000 after purchasing an additional 11,611 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $249.96, for a total value of $374,940.00. Following the transaction, the insider directly owned 27,233 shares of the company's stock, valued at approximately $6,807,160.68. The trade was a 5.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Chad R. Richison sold 23,200 shares of Paycom Software stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $265.20, for a total transaction of $6,152,640.00. Following the completion of the sale, the chief executive officer owned 3,224,049 shares of the company's stock, valued at $855,017,794.80. This represents a 0.71% 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 90 days. Corporate insiders own 10.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PAYC. Barclays raised their target price on shares of Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a report on Thursday, May 8th. Stifel Nicolaus upped their target price on Paycom Software from $187.00 to $215.00 and gave the stock a "hold" 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 company a "neutral" rating in a research note on Thursday, May 8th. Finally, BMO Capital Markets upped their price objective on Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a research note on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $226.90.

Paycom Software Trading Up 1.2%

PAYC stock traded up $2.67 during trading on Tuesday, hitting $234.07. The company had a trading volume of 913,138 shares, compared to its average volume of 663,781. The stock has a market cap of $13.54 billion, a PE ratio of 33.39, a PEG ratio of 2.55 and a beta of 0.77. The business has a 50-day moving average of $245.03 and a 200-day moving average of $222.73. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $267.76.

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

Paycom Software Dividend Announcement

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