Metropolitan Life Insurance Co NY Lowers Holdings in Paycom Software Inc (NYSE:PAYC)

Metropolitan Life Insurance Co NY lowered its holdings in shares of Paycom Software Inc (NYSE:PAYC) by 5.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,629 shares of the software maker’s stock after selling 191 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Paycom Software were worth $686,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC grew its holdings in shares of Paycom Software by 100.0% during the first quarter. Global Retirement Partners LLC now owns 200 shares of the software maker’s stock valued at $38,000 after buying an additional 100 shares in the last quarter. CWM LLC purchased a new position in Paycom Software in the first quarter valued at about $45,000. Pittenger & Anderson Inc. grew its stake in Paycom Software by 1,125.0% in the first quarter. Pittenger & Anderson Inc. now owns 245 shares of the software maker’s stock valued at $46,000 after purchasing an additional 225 shares in the last quarter. Mark Sheptoff Financial Planning LLC purchased a new position in Paycom Software in the fourth quarter valued at about $31,000. Finally, Icon Wealth Partners LLC purchased a new position in Paycom Software in the first quarter valued at about $53,000. 74.38% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software stock traded down $9.24 during mid-day trading on Friday, hitting $232.81. 624,592 shares of the company’s stock were exchanged, compared to its average volume of 558,598. The firm has a market capitalization of $14.16 billion, a price-to-earnings ratio of 106.79, a P/E/G ratio of 3.46 and a beta of 1.63. Paycom Software Inc has a fifty-two week low of $100.87 and a fifty-two week high of $246.85. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average price of $226.82.

Paycom Software (NYSE:PAYC) last released its earnings results on Tuesday, April 30th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.89 by ($0.07). The firm had revenue of $199.90 million for the quarter, compared to the consensus estimate of $195.53 million. Paycom Software had a return on equity of 39.02% and a net margin of 23.38%. Paycom Software’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter last year, the company posted $0.95 EPS. On average, sell-side analysts anticipate that Paycom Software Inc will post 2.6 earnings per share for the current fiscal year.

In other Paycom Software news, insider Bradley Scott Smith sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $200.95, for a total transaction of $522,470.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jon Evans sold 2,047 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $200.30, for a total transaction of $410,014.10. The disclosure for this sale can be found here. Insiders sold a total of 31,747 shares of company stock valued at $6,546,721 in the last 90 days. 16.09% of the stock is owned by corporate insiders.

A number of analysts have weighed in on the company. KeyCorp boosted their price target on Paylocity from $106.00 to $112.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Jefferies Financial Group reduced their price target on Boeing from $448.00 to $420.00 in a research report on Friday. Northland Securities boosted their price objective on Paycom Software from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 9th. Cantor Fitzgerald initiated coverage on Upwork in a report on Tuesday, June 18th. They issued an “overweight” rating for the company. Finally, ValuEngine upgraded YY from a “sell” rating to a “hold” rating in a research note on Friday, June 7th. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $194.29.

About Paycom Software

Paycom Software, Inc provides cloud-based human capital management (HCM) software service for small to mid-sized companies in the United States. It provides functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement. The company's HCM solution offers a suite of applications in the areas of talent acquisition, including applicant tracking, candidate tracker, background checks, on-boarding, e-verify, and tax credit services; and time and labor management, such as time and attendance, scheduling/schedule exchange, time-off requests, labor allocation, labor management reports/push reporting, and geofencing/geotracking.

Featured Story: What is the price-to-earnings growth (PEG) ratio?

Institutional Ownership by Quarter for Paycom Software (NYSE:PAYC)

Receive News & Ratings for Paycom Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paycom Software and related companies with MarketBeat.com's FREE daily email newsletter.