Oppenheimer Asset Management Inc. Raises Position in Paycom Software, Inc. (NYSE:PAYC)

Oppenheimer Asset Management Inc. boosted its position in Paycom Software, Inc. (NYSE:PAYC) by 27.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,158 shares of the software maker’s stock after purchasing an additional 10,311 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Paycom Software were worth $9,584,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. HBK Sorce Advisory LLC lifted its stake in shares of Paycom Software by 5.9% during the 4th quarter. HBK Sorce Advisory LLC now owns 986 shares of the software maker’s stock valued at $204,000 after buying an additional 55 shares in the last quarter. Empirical Finance LLC lifted its position in shares of Paycom Software by 3.9% during the first quarter. Empirical Finance LLC now owns 1,580 shares of the software maker’s stock worth $314,000 after acquiring an additional 60 shares in the last quarter. Optas LLC boosted its holdings in shares of Paycom Software by 6.1% in the first quarter. Optas LLC now owns 1,059 shares of the software maker’s stock worth $211,000 after acquiring an additional 61 shares during the period. Bouvel Investment Partners LLC boosted its holdings in shares of Paycom Software by 1.0% in the fourth quarter. Bouvel Investment Partners LLC now owns 6,431 shares of the software maker’s stock worth $1,329,000 after acquiring an additional 63 shares during the period. Finally, Wahed Invest LLC grew its position in shares of Paycom Software by 7.9% in the fourth quarter. Wahed Invest LLC now owns 877 shares of the software maker’s stock valued at $181,000 after purchasing an additional 64 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

Paycom Software Stock Performance

Shares of PAYC stock traded up $3.95 on Friday, hitting $148.43. 908,242 shares of the company’s stock traded hands, compared to its average volume of 768,885. The company’s fifty day simple moving average is $155.05 and its 200 day simple moving average is $179.36. The stock has a market capitalization of $8.63 billion, a price-to-earnings ratio of 18.08, a P/E/G ratio of 2.19 and a beta of 1.16. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $374.04.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, May 1st. The software maker reported $4.25 EPS for the quarter, topping the consensus estimate of $1.96 by $2.29. The company had revenue of $499.88 million for the quarter, compared to the consensus estimate of $495.89 million. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. As a group, sell-side analysts anticipate that Paycom Software, Inc. will post 6.37 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 10th. Investors of record on Tuesday, May 28th were issued a dividend of $0.375 per share. The ex-dividend date was Friday, May 24th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.01%. Paycom Software’s dividend payout ratio is presently 18.27%.

Insider Buying and Selling

In other Paycom Software news, EVP Amy Vickroy sold 1,381 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $143.39, for a total transaction of $198,021.59. Following the transaction, the executive vice president now owns 19,962 shares in the company, valued at approximately $2,862,351.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $180.82, for a total transaction of $352,599.00. Following the completion of the transaction, the chief executive officer now directly owns 3,091,958 shares of the company’s stock, valued at approximately $559,087,845.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Amy Vickroy sold 1,381 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $143.39, for a total transaction of $198,021.59. Following the completion of the sale, the executive vice president now owns 19,962 shares in the company, valued at approximately $2,862,351.18. The disclosure for this sale can be found here. Insiders sold 39,337 shares of company stock valued at $5,927,323 over the last quarter. 14.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PAYC has been the topic of a number of recent research reports. TD Cowen dropped their price objective on Paycom Software from $170.00 to $147.00 and set a “hold” rating on the stock in a report on Thursday, June 20th. StockNews.com upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a research report on Tuesday, May 28th. BMO Capital Markets decreased their target price on shares of Paycom Software from $200.00 to $190.00 and set a “market perform” rating on the stock in a report on Thursday, May 2nd. Jefferies Financial Group cut their price target on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a report on Monday, June 24th. Finally, Barclays reduced their price target on shares of Paycom Software from $193.00 to $184.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Sixteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $237.81.

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.