Oppenheimer & Co. Inc. Boosts Stock Position in Paycom Software, Inc. (NYSE:PAYC)

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

A number of other large investors have also recently made changes to their positions in the company. Glass Jacobson Investment Advisors llc increased its stake in Paycom Software by 746.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock valued at $26,000 after purchasing an additional 112 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in Paycom Software in the fourth quarter valued at approximately $30,000. MassMutual Private Wealth & Trust FSB increased its stake in Paycom Software by 135.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock valued at $33,000 after purchasing an additional 87 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in Paycom Software in the first quarter valued at approximately $35,000. Finally, Putney Financial Group LLC purchased a new position in Paycom Software in the fourth quarter valued at approximately $39,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PAYC shares. Stifel Nicolaus increased 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. Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a report on Thursday, May 8th. KeyCorp increased 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. BMO Capital Markets increased 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, Barclays increased their price objective on Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Paycom Software has a consensus rating of "Hold" and a consensus target price of $226.90.

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 23,200 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 3,224,049 shares in the company, valued at $855,017,794.80. This trade represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bradley Scott Smith sold 1,500 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $249.96, for a total value of $374,940.00. Following the completion of the transaction, the insider now owns 27,233 shares of the company's stock, valued at approximately $6,807,160.68. This represents a 5.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 172,016 shares of company stock valued at $42,736,608. 10.90% of the stock is owned by company insiders.

Paycom Software Stock Up 0.7%

Shares of NYSE PAYC traded up $1.57 during mid-day trading on Friday, hitting $227.03. 590,047 shares of the company were exchanged, compared to its average volume of 664,487. The stock has a 50 day simple moving average of $243.88 and a 200-day simple moving average of $222.97. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $267.76. The firm has a market cap of $13.13 billion, a price-to-earnings ratio of 32.39, a price-to-earnings-growth ratio of 2.48 and a beta of 0.81.

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

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Tuesday, May 27th. Paycom Software's dividend payout ratio (DPR) is currently 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.