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

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

Paycom Software Trading Down 1.3 %

Shares of NYSE:PAYC traded down $3.07 during midday trading on Friday, hitting $231.92. 346,719 shares of the stock were exchanged, compared to its average volume of 798,897. The stock has a market cap of $13.37 billion, a P/E ratio of 27.91, a PEG ratio of 3.13 and a beta of 1.14. The company has a 50 day moving average price of $192.17 and a 200-day moving average price of $169.59. Paycom Software has a twelve month low of $139.50 and a twelve month high of $237.33.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be given a dividend of $0.375 per share. 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 dividend payout ratio is presently 18.05%.

Insider Transactions at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $160.35, for a total transaction of $312,682.50. Following the completion of the sale, the chief executive officer now directly owns 2,947,658 shares of the company’s stock, valued at $472,656,960.30. 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 through this link. Over the last ninety days, insiders have sold 54,600 shares of company stock worth $9,726,717. Insiders own 14.50% of the company’s stock.

Institutional Trading of Paycom Software

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PAYC. Advisors Asset Management Inc. increased its position in Paycom Software by 37.0% during the 1st quarter. Advisors Asset Management Inc. now owns 300 shares of the software maker’s stock worth $60,000 after purchasing an additional 81 shares in the last quarter. Tidal Investments LLC grew its holdings in Paycom Software by 23.9% in the 1st quarter. Tidal Investments LLC now owns 9,529 shares of the software maker’s stock valued at $1,893,000 after buying an additional 1,841 shares during the period. Swedbank AB purchased a new stake in Paycom Software in the 1st quarter valued at about $16,386,000. Atria Investments Inc purchased a new stake in Paycom Software in the 1st quarter valued at about $2,142,000. Finally, Cetera Investment Advisers grew its holdings in Paycom Software by 490.0% in the 1st quarter. Cetera Investment Advisers now owns 18,042 shares of the software maker’s stock valued at $3,591,000 after buying an additional 14,984 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on PAYC. Piper Sandler raised their target price on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Barclays raised their target price on Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Jefferies Financial Group raised their target price on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, October 31st. BMO Capital Markets raised their target price on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Finally, Mizuho raised their target price on Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, November 4th. 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 company has a consensus rating of “Hold” and a consensus target price of $193.67.

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.