Paycom Software, Inc. $PAYC Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its position in Paycom Software, Inc. (NYSE:PAYC) by 2.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,663 shares of the software maker’s stock after selling 2,883 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.17% of Paycom Software worth $23,293,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. von Borstel & Associates Inc. purchased a new position in Paycom Software in the first quarter valued at $27,000. SouthState Corp purchased a new position in Paycom Software in the first quarter valued at $27,000. Golden State Wealth Management LLC lifted its holdings in shares of Paycom Software by 112.3% in the 1st quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker’s stock valued at $30,000 after purchasing an additional 73 shares during the last quarter. S Bank Fund Management Ltd purchased a new stake in shares of Paycom Software in the 1st quarter valued at about $37,000. Finally, Brooklyn Investment Group lifted its holdings in shares of Paycom Software by 19.4% in the 1st quarter. Brooklyn Investment Group now owns 240 shares of the software maker’s stock valued at $52,000 after purchasing an additional 39 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Stock Down 0.3%

PAYC stock opened at $199.56 on Friday. Paycom Software, Inc. has a 52-week low of $163.75 and a 52-week high of $267.76. The stock’s fifty day simple moving average is $214.69 and its 200-day simple moving average is $228.42. The stock has a market capitalization of $11.55 billion, a price-to-earnings ratio of 27.00, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.28. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The business had revenue of $483.60 million for the quarter, compared to analysts’ expectations of $472.00 million. During the same quarter last year, the firm earned $1.62 earnings per share. The business’s revenue was up 10.5% on a year-over-year basis. As a group, analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 25th were given a $0.375 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $1.50 annualized dividend and a yield of 0.8%. Paycom Software’s dividend payout ratio (DPR) is 20.30%.

Insider Buying and Selling

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $223.27, for a total value of $334,905.00. Following the transaction, the insider directly owned 24,533 shares of the company’s stock, valued at $5,477,482.91. This trade represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PAYC shares. Jefferies Financial Group reduced their target price on Paycom Software from $250.00 to $225.00 and set a “hold” rating for the company in a report on Monday, October 13th. TD Cowen upgraded Paycom Software from a “hold” rating to a “buy” rating and boosted their price target for the company from $246.00 to $258.00 in a research report on Monday, September 22nd. BMO Capital Markets boosted their price target on Paycom Software from $244.00 to $258.00 and gave the company a “market perform” rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. boosted their target price on Paycom Software from $215.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Finally, Barclays reduced their price target on Paycom Software from $250.00 to $225.00 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $243.69.

Paycom Software 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.