Paycom Software, Inc. (NYSE:PAYC) Short Interest Update

Paycom Software, Inc. (NYSE:PAYC) was the target of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 2,000,000 shares, a decrease of 18.7% from the October 31st total of 2,460,000 shares. Currently, 4.1% of the shares of the company are short sold. Based on an average daily volume of 687,400 shares, the days-to-cover ratio is presently 2.9 days.

Insider Transactions at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $162.00, for a total value of $315,900.00. Following the completion of the sale, the chief executive officer now owns 2,941,808 shares in the company, valued at $476,572,896. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 54,600 shares of company stock worth $9,726,717 over the last 90 days. 14.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Paycom Software

Several hedge funds have recently bought and sold shares of PAYC. Armstrong Advisory Group Inc. purchased a new stake in shares of Paycom Software in the third quarter valued at $26,000. Brooklyn Investment Group acquired a new position in Paycom Software in the 3rd quarter valued at about $28,000. Ashton Thomas Private Wealth LLC acquired a new position in Paycom Software in the 2nd quarter valued at about $25,000. Pin Oak Investment Advisors Inc. lifted its holdings in Paycom Software by 73.3% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock valued at $30,000 after purchasing an additional 77 shares in the last quarter. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Paycom Software during the 2nd quarter worth about $26,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PAYC. Citigroup upped their price objective on Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Mizuho upped their price target on shares of Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. TD Cowen raised their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Barclays boosted their price objective on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, BMO Capital Markets increased their target price on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $193.67.

Paycom Software Price Performance

Shares of NYSE PAYC opened at $231.92 on Monday. The firm’s 50-day moving average is $192.17 and its two-hundred day moving average is $169.50. The company has a market capitalization of $13.37 billion, a PE ratio of 27.91, a price-to-earnings-growth ratio of 3.09 and a beta of 1.14. Paycom Software has a 12-month low of $139.50 and a 12-month high of $237.33.

Paycom Software Announces Dividend

The business 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. This represents a $1.50 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Monday, November 25th. Paycom Software’s payout ratio is currently 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.