Paycom Software, Inc. (NYSE:PAYC) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC reduced its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,151 shares of the software maker’s stock after selling 205 shares during the quarter. MetLife Investment Management LLC’s holdings in Paycom Software were worth $2,357,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sylebra Capital LLC raised its stake in Paycom Software by 53.9% during the 2nd 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 in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in Paycom Software by 9.4% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker’s stock worth $152,925,000 after purchasing an additional 92,049 shares during the last quarter. FMR LLC grew its position in Paycom Software by 55.0% during the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after purchasing an additional 357,723 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Paycom Software by 1.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker’s stock worth $104,524,000 after purchasing an additional 6,488 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in Paycom Software by 1,011.2% during the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock worth $83,244,000 after purchasing an additional 529,591 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $167.31, for a total value of $326,254.50. Following the completion of the transaction, the chief executive officer now owns 2,935,958 shares of the company’s stock, valued at $491,215,132.98. The trade was a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 52,650 shares of company stock valued at $9,414,035 over the last 90 days. Insiders own 12.60% of the company’s stock.

Paycom Software Trading Up 0.8 %

Shares of PAYC opened at $231.74 on Thursday. The stock has a market cap of $13.36 billion, a P/E ratio of 27.89, a PEG ratio of 3.09 and a beta of 1.11. The company has a 50-day moving average of $195.77 and a two-hundred day moving average of $170.63. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $237.33.

Paycom Software Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s dividend payout ratio is presently 18.05%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PAYC shares. Piper Sandler raised their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. BMO Capital Markets raised their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Citigroup raised their price objective on shares of Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Mizuho lifted their target price on shares of Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, TD Cowen lifted their target price on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.