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

Oppenheimer & Co. Inc. boosted its position in Paycom Software, Inc. (NYSE:PAYC) by 149.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,334 shares of the software maker’s stock after purchasing 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 reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Private Trust Co. NA raised its holdings in Paycom Software by 9.3% in the fourth quarter. Private Trust Co. NA now owns 575 shares of the software maker’s stock worth $118,000 after purchasing an additional 49 shares in the last quarter. Salvus Wealth Management LLC lifted its holdings in shares of Paycom Software by 4.9% during the 1st quarter. Salvus Wealth Management LLC now owns 1,238 shares of the software maker’s stock valued at $270,000 after purchasing an additional 58 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Paycom Software by 1.1% during the 4th quarter. Benjamin Edwards Inc. now owns 5,502 shares of the software maker’s stock valued at $1,128,000 after purchasing an additional 60 shares during the last quarter. Fourpath Capital Management LLC lifted its holdings in shares of Paycom Software by 1.9% during the 1st quarter. Fourpath Capital Management LLC now owns 3,798 shares of the software maker’s stock valued at $830,000 after purchasing an additional 69 shares during the last quarter. Finally, Fiduciary Trust Co lifted its holdings in shares of Paycom Software by 1.6% during the 4th quarter. Fiduciary Trust Co now owns 4,495 shares of the software maker’s stock valued at $921,000 after purchasing an additional 71 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PAYC has been the subject of several analyst reports. 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. Wall Street Zen lowered Paycom Software from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. 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. Barclays raised their target price on Paycom Software from $221.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research note on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $226.90.

Paycom Software Stock Up 0.7%

NYSE:PAYC opened at $227.03 on Friday. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $267.76. The stock has a market capitalization of $13.13 billion, a PE ratio of 32.39, a price-to-earnings-growth ratio of 2.48 and a beta of 0.81. The stock’s 50-day moving average price is $243.88 and its 200-day moving average price is $222.97.

Paycom Software (NYSE:PAYC) last posted its earnings results 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 return on equity of 25.53% and a net margin of 20.60%. The firm had revenue of $530.50 million for the quarter, compared to analysts’ expectations of $522.92 million. During the same period last year, the firm earned $2.59 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Sell-side analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Tuesday, May 27th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software’s payout ratio is 21.40%.

Insider Buying and Selling

In other news, COO Randall Peck sold 890 shares of Paycom Software stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total transaction of $234,256.90. Following the sale, the chief operating officer now owns 49,394 shares of the company’s stock, valued at approximately $13,000,994.74. The trade was a 1.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Chad R. Richison sold 120,000 shares of Paycom Software stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $243.52, for a total transaction of $29,222,400.00. Following the sale, the chief executive officer now directly owns 3,307,249 shares in the company, valued at approximately $805,381,276.48. The trade was a 3.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 172,016 shares of company stock worth $42,736,608. Insiders own 10.90% of the company’s stock.

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.