Oppenheimer Asset Management Inc. Acquires 27,179 Shares of Paycom Software, Inc. (NYSE:PAYC)

Oppenheimer Asset Management Inc. raised its position in Paycom Software, Inc. (NYSE:PAYC) by 35.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,599 shares of the software maker’s stock after buying an additional 27,179 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.18% of Paycom Software worth $17,256,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sylebra Capital LLC raised its position in shares of Paycom Software by 53.9% during the second quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock worth $279,996,000 after acquiring an additional 685,190 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of Paycom Software by 9.4% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker’s stock valued at $152,925,000 after buying an additional 92,049 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of Paycom Software by 1,011.2% during the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock valued at $83,244,000 after buying an additional 529,591 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Paycom Software by 6.3% during the second quarter. Bank of New York Mellon Corp now owns 455,271 shares of the software maker’s stock valued at $65,122,000 after buying an additional 26,934 shares during the last quarter. Finally, Confluence Investment Management LLC boosted its position in shares of Paycom Software by 147.3% during the third quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock valued at $62,943,000 after buying an additional 225,081 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Price Performance

PAYC traded up $0.39 during midday trading on Wednesday, reaching $229.28. 17,479 shares of the company’s stock traded hands, compared to its average volume of 813,447. The firm has a fifty day moving average of $174.86 and a two-hundred day moving average of $164.60. The stock has a market capitalization of $13.22 billion, a price-to-earnings ratio of 27.54, a P/E/G ratio of 3.05 and a beta of 1.14. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $233.69.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Monday, November 25th. Paycom Software’s dividend payout ratio is currently 18.05%.

Insider Transactions at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $158.66, for a total value of $309,387.00. Following the sale, the chief executive officer now owns 2,973,008 shares in the company, valued at $471,697,449.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 60,450 shares of company stock valued at $10,535,480. Corporate insiders own 12.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Citigroup lifted their price target on Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Piper Sandler boosted their target price on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Jefferies Financial Group boosted their target price on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Barclays boosted their target price on Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Finally, Mizuho boosted their target price on Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $193.67.

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.