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

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Barclays lifted their price objective on Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Piper Sandler boosted their price target on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. TD Cowen boosted their price target on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. BMO Capital Markets boosted their price target on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group boosted their price target on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $193.67.

Paycom Software Stock Down 1.3 %

Shares of PAYC traded down $3.07 during trading on Friday, reaching $231.92. The company’s stock had a trading volume of 346,719 shares, compared to its average volume of 798,897. The company has a fifty day moving average of $192.17 and a two-hundred day moving average of $169.59. Paycom Software has a twelve month low of $139.50 and a twelve month high of $237.33. The company has a market cap of $13.37 billion, a price-to-earnings ratio of 27.91, a P/E/G ratio of 3.13 and a beta of 1.14.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders 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 payout ratio is 18.05%.

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $162.00, for a total value of $315,900.00. Following the transaction, the chief executive officer now directly owns 2,941,808 shares of the company’s stock, valued at $476,572,896. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders sold 54,600 shares of company stock worth $9,726,717 in the last 90 days. 14.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Paycom Software

Institutional investors have recently made changes to their positions in the business. Ashton Thomas Private Wealth LLC bought a new stake in shares of Paycom Software in the 2nd quarter valued at approximately $25,000. MFA Wealth Advisors LLC bought a new stake in shares of Paycom Software in the 2nd quarter valued at approximately $26,000. Armstrong Advisory Group Inc. bought a new stake in shares of Paycom Software in the 3rd quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Paycom Software in the 2nd quarter valued at approximately $27,000. Finally, Brooklyn Investment Group bought a new stake in shares of Paycom Software in the 3rd quarter valued at approximately $28,000. 87.77% of the stock is owned by institutional investors and hedge funds.

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.