Oppenheimer & Co. Inc. Lowers Holdings in Paycom Software, Inc. (NYSE:PAYC)

Oppenheimer & Co. Inc. reduced its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 29.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 2,888 shares of the software maker’s stock after selling 1,184 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Paycom Software were worth $481,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Ashton Thomas Private Wealth LLC acquired a new position in shares of Paycom Software during the 2nd quarter worth $25,000. MFA Wealth Advisors LLC acquired a new stake in Paycom Software during the 2nd quarter worth approximately $26,000. Armstrong Advisory Group Inc. purchased a new stake in shares of Paycom Software in the third quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Paycom Software in the second quarter valued at $27,000. Finally, CVA Family Office LLC increased its holdings in Paycom Software by 234.3% during the 2nd quarter. CVA Family Office LLC now owns 234 shares of the software maker’s stock worth $33,000 after purchasing an additional 164 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on PAYC. Mizuho lifted their target price on Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. TD Cowen lifted their target price on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. BMO Capital Markets lifted their price target on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Finally, Jefferies Financial Group lifted 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. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $193.67.

Insider Buying and Selling at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $163.12, for a total transaction of $318,084.00. Following the completion of the sale, the chief executive officer now directly owns 3,534,499 shares of the company’s stock, valued at $576,547,476.88. The trade was a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 58,500 shares of company stock valued at $10,361,228. 12.60% of the stock is currently owned by corporate insiders.

Paycom Software Trading Up 1.3 %

NYSE PAYC opened at $219.67 on Thursday. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $233.69. The company has a market cap of $12.67 billion, a P/E ratio of 26.43, a P/E/G ratio of 2.94 and a beta of 1.14. The company has a fifty day simple moving average of $182.32 and a 200 day simple moving average of $166.31.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.68%. Paycom Software’s payout ratio is 18.05%.

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.