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

Oppenheimer Asset Management Inc. reduced its position in Paycom Software, Inc. (NYSE:PAYC) by 20.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 75,070 shares of the software maker’s stock after selling 19,487 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Paycom Software were worth $11,963,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC bought a new position in shares of Paycom Software during the second quarter worth about $29,000. Caitlin John LLC bought a new position in shares of Paycom Software during the third quarter worth about $29,000. MUFG Securities EMEA plc bought a new position in shares of Paycom Software during the second quarter worth about $33,000. Steigerwald Gordon & Koch Inc. bought a new position in shares of Paycom Software during the third quarter worth about $31,000. Finally, True Wealth Design LLC lifted its position in shares of Paycom Software by 946.7% during the fourth quarter. True Wealth Design LLC now owns 157 shares of the software maker’s stock worth $25,000 after purchasing an additional 142 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Stock Performance

NYSE PAYC opened at $131.85 on Friday. Paycom Software, Inc. has a twelve month low of $104.90 and a twelve month high of $267.76. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 1.34 and a beta of 0.79. The firm’s 50 day moving average price is $124.88 and its two-hundred day moving average price is $148.37.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, February 11th. The software maker reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.01. Paycom Software had a net margin of 22.10% and a return on equity of 24.25%. The firm had revenue of $544.30 million for the quarter, compared to analysts’ expectations of $542.79 million. During the same period in the previous year, the company posted $2.32 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, research analysts forecast that Paycom Software, Inc. will post 8.59 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 23rd. Stockholders of record on Monday, March 9th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, March 9th. Paycom Software’s dividend payout ratio is currently 18.54%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Weiss Ratings lowered shares of Paycom Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, February 3rd. Citigroup lowered their price objective on Paycom Software from $185.00 to $128.00 and set a “neutral” rating for the company in a research note on Friday, February 13th. Jefferies Financial Group lowered their price objective on shares of Paycom Software from $190.00 to $130.00 and set a “hold” rating on the stock in a research note on Thursday, February 12th. TD Cowen decreased their price target on shares of Paycom Software from $200.00 to $184.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Finally, Guggenheim decreased their price target on shares of Paycom Software from $210.00 to $180.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Five equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Paycom Software presently has an average rating of “Hold” and a consensus price target of $168.79.

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.