Paycom Software, Inc. (NYSE:PAYC) Short Interest Down 14.1% in February

Paycom Software, Inc. (NYSE:PAYC) saw a significant decline in short interest in February. As of February 15th, there was short interest totalling 1,830,000 shares, a decline of 14.1% from the January 31st total of 2,130,000 shares. Currently, 3.6% of the company’s stock are short sold. Based on an average daily volume of 563,100 shares, the days-to-cover ratio is currently 3.2 days.

Paycom Software Price Performance

Shares of NYSE PAYC traded up $3.53 during trading hours on Friday, reaching $207.15. The stock had a trading volume of 193,731 shares, compared to its average volume of 598,463. Paycom Software has a twelve month low of $139.50 and a twelve month high of $242.74. The business’s fifty day moving average is $208.49 and its two-hundred day moving average is $197.28. The company has a market cap of $11.86 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 2.40 and a beta of 1.15.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. Sell-side analysts forecast that Paycom Software will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Monday, March 10th. Paycom Software’s dividend payout ratio (DPR) is currently 16.85%.

Wall Street Analyst Weigh In

PAYC has been the subject of several research reports. Piper Sandler lifted their price target on shares of Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Stifel Nicolaus lowered their price objective on Paycom Software from $215.00 to $187.00 and set a “hold” rating for the company in a research note on Thursday, February 13th. Barclays cut their target price on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Citigroup cut their price objective on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Mizuho upped their target price on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Twelve equities research analysts have rated the stock with a hold rating, According to MarketBeat, Paycom Software has an average rating of “Hold” and an average price target of $209.22.

Insiders Place Their Bets

In related news, COO Randall Peck sold 3,600 shares of Paycom Software stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $212.19, for a total value of $763,884.00. Following the completion of the transaction, the chief operating officer now directly owns 50,665 shares in the company, valued at approximately $10,750,606.35. This trade represents a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director J C. Watts, Jr. sold 500 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $218.22, for a total value of $109,110.00. Following the sale, the director now owns 7,730 shares in the company, valued at $1,686,840.60. The trade was a 6.08 % decrease in their position. The disclosure for this sale can be found here. 14.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Paycom Software

Several institutional investors have recently added to or reduced their stakes in the company. Glass Jacobson Investment Advisors llc boosted its holdings in shares of Paycom Software by 746.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker’s stock worth $26,000 after acquiring an additional 112 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new position in Paycom Software in the 4th quarter valued at $30,000. Brooklyn Investment Group acquired a new position in Paycom Software in the third quarter worth $28,000. Pin Oak Investment Advisors Inc. grew its holdings in shares of Paycom Software by 73.3% during the third quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after purchasing an additional 77 shares during the last quarter. Finally, Putney Financial Group LLC acquired a new stake in shares of Paycom Software in the fourth quarter valued at $39,000. 87.77% of the stock is owned by institutional investors.

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.