Oppenheimer Asset Management Inc. Lowers Holdings in Paycom Software, Inc. $PAYC

Oppenheimer Asset Management Inc. reduced its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 6.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 94,557 shares of the software maker’s stock after selling 6,106 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Paycom Software were worth $19,681,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Candriam S.C.A. increased its position in Paycom Software by 21.2% during the third quarter. Candriam S.C.A. now owns 120,029 shares of the software maker’s stock worth $24,983,000 after purchasing an additional 21,006 shares during the last quarter. Correct Capital Wealth Management grew its stake in shares of Paycom Software by 5.8% during the 3rd quarter. Correct Capital Wealth Management now owns 2,555 shares of the software maker’s stock valued at $532,000 after buying an additional 140 shares during the period. Boyd Watterson Asset Management LLC OH increased its holdings in shares of Paycom Software by 0.8% during the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 10,576 shares of the software maker’s stock worth $2,201,000 after buying an additional 84 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Paycom Software by 46.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,068 shares of the software maker’s stock worth $233,000 after buying an additional 338 shares during the period. Finally, Alps Advisors Inc. raised its position in shares of Paycom Software by 21.7% in the 3rd quarter. Alps Advisors Inc. now owns 2,049 shares of the software maker’s stock worth $426,000 after buying an additional 365 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Stock Down 0.5%

Shares of NYSE:PAYC opened at $130.91 on Monday. The company has a market capitalization of $7.37 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 1.38 and a beta of 0.79. The company has a 50 day moving average of $154.25 and a two-hundred day moving average of $187.35. Paycom Software, Inc. has a 52-week low of $122.61 and a 52-week high of $267.76.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Zacks Research lowered Paycom Software from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. Cantor Fitzgerald dropped their target price on shares of Paycom Software from $170.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday, January 29th. Mizuho reduced their price target on shares of Paycom Software from $220.00 to $180.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. TD Cowen dropped their price objective on shares of Paycom Software from $200.00 to $184.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Finally, KeyCorp cut their target price on shares of Paycom Software from $290.00 to $250.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Paycom Software has a consensus rating of “Hold” and a consensus price target of $202.86.

Insiders Place Their Bets

In related news, CFO Robert D. Foster sold 1,300 shares of Paycom Software stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $162.66, for a total transaction of $211,458.00. Following the sale, the chief financial officer owned 14,747 shares of the company’s stock, valued at $2,398,747.02. The trade was a 8.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 10.90% of the company’s stock.

About Paycom Software

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.