Oppenheimer & Co. Inc. Sells 1,184 Shares of Paycom Software, Inc. (NYSE:PAYC)

Oppenheimer & Co. Inc. decreased its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 29.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 institutional investors have also recently bought and sold shares of the stock. Edgestream Partners L.P. increased its position in Paycom Software by 31.4% during the first quarter. Edgestream Partners L.P. now owns 4,658 shares of the software maker’s stock worth $927,000 after buying an additional 1,114 shares during the last quarter. UniSuper Management Pty Ltd boosted its position in Paycom Software by 649.5% during the first quarter. UniSuper Management Pty Ltd now owns 5,666 shares of the software maker’s stock valued at $1,128,000 after acquiring an additional 4,910 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Paycom Software by 49.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 75,850 shares of the software maker’s stock valued at $15,111,000 after acquiring an additional 25,210 shares in the last quarter. Natixis acquired a new position in shares of Paycom Software during the first quarter valued at about $96,000. Finally, Crewe Advisors LLC bought a new position in Paycom Software during the 1st quarter valued at $55,000. Institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Piper Sandler raised their price target on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Mizuho increased their price objective on shares of Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Citigroup upped their price objective on Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Finally, TD Cowen raised their price target on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $193.67.

Paycom Software Stock Performance

Paycom Software stock opened at $219.67 on Thursday. The business’s 50-day simple moving average is $182.32 and its two-hundred day simple moving average is $166.31. The company has a market cap of $12.67 billion, a PE ratio of 26.43, a PEG ratio of 2.94 and a beta of 1.14. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $233.69.

Paycom Software Announces Dividend

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

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $163.12, for a total value of $318,084.00. Following the completion of the sale, the chief executive officer now owns 3,534,499 shares in the company, valued at approximately $576,547,476.88. This represents a 0.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 58,500 shares of company stock valued at $10,361,228. Company insiders own 12.60% of the company’s stock.

About Paycom Software

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.