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

Oppenheimer Asset Management Inc. decreased its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 6.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 94,557 shares of the software maker’s stock after selling 6,106 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.16% of Paycom Software worth $19,681,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Brighton Jones LLC acquired a new position in Paycom Software during the fourth quarter worth $638,000. AQR Capital Management LLC grew its stake in shares of Paycom Software by 23.7% during the 1st quarter. AQR Capital Management LLC now owns 19,155 shares of the software maker’s stock worth $4,136,000 after purchasing an additional 3,674 shares during the period. United Services Automobile Association purchased a new position in shares of Paycom Software in the 1st quarter valued at about $215,000. Empowered Funds LLC increased its holdings in shares of Paycom Software by 22.8% in the 1st quarter. Empowered Funds LLC now owns 7,958 shares of the software maker’s stock valued at $1,739,000 after purchasing an additional 1,480 shares in the last quarter. Finally, Focus Partners Wealth lifted its stake in shares of Paycom Software by 220.8% in the first quarter. Focus Partners Wealth now owns 3,940 shares of the software maker’s stock valued at $861,000 after purchasing an additional 2,712 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Paycom Software news, CFO Robert D. Foster sold 1,300 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $162.66, for a total transaction of $211,458.00. Following the transaction, the chief financial officer owned 14,747 shares of the company’s stock, valued at $2,398,747.02. This represents a 8.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 10.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Zacks Research cut Paycom Software from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. JPMorgan Chase & Co. cut their price target on Paycom Software from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Weiss Ratings cut shares of Paycom Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, February 3rd. Cantor Fitzgerald cut their target price on shares of Paycom Software from $170.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday, January 29th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $175.00 price target on shares of Paycom Software in a research report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Paycom Software currently has an average rating of “Hold” and a consensus target price of $202.86.

Paycom Software Price Performance

NYSE:PAYC opened at $130.91 on Monday. The firm has a market cap of $7.37 billion, a PE ratio of 16.28, a P/E/G ratio of 1.38 and a beta of 0.79. The firm has a 50 day simple moving average of $154.25 and a 200-day simple moving average of $187.35. Paycom Software, Inc. has a 1-year low of $122.61 and a 1-year high of $267.76.

Paycom Software Profile

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.