Paycom Software Inc (NYSE:PAYC) Sees Significant Growth in Short Interest

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Paycom Software Inc (NYSE:PAYC) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 1,980,000 shares, an increase of 6.5% from the September 30th total of 1,860,000 shares. Based on an average trading volume of 592,300 shares, the days-to-cover ratio is presently 3.3 days. Currently, 4.0% of the company’s shares are sold short.

In other Paycom Software news, insider Jeffrey D. York sold 25,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $212.78, for a total transaction of $5,319,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 16.09% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. CSat Investment Advisory L.P. acquired a new stake in shares of Paycom Software in the second quarter valued at $34,000. FTB Advisors Inc. grew its stake in shares of Paycom Software by 106.5% in the third quarter. FTB Advisors Inc. now owns 190 shares of the software maker’s stock valued at $39,000 after buying an additional 98 shares in the last quarter. Riverhead Capital Management LLC acquired a new stake in shares of Paycom Software in the second quarter valued at $45,000. Quest Capital Management Inc. ADV purchased a new position in Paycom Software in the third quarter valued at $43,000. Finally, Flagship Harbor Advisors LLC boosted its holdings in Paycom Software by 404.8% in the second quarter. Flagship Harbor Advisors LLC now owns 212 shares of the software maker’s stock valued at $48,000 after purchasing an additional 170 shares during the period. 72.55% of the stock is owned by institutional investors and hedge funds.

Several research firms have issued reports on PAYC. Zacks Investment Research raised Paycom Software from a “hold” rating to a “buy” rating and set a $259.00 target price for the company in a research note on Wednesday, August 21st. Royal Bank of Canada raised their target price on Paycom Software to $230.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Credit Suisse Group reissued a “hold” rating and set a $235.00 target price on shares of Paycom Software in a research note on Thursday, October 31st. Needham & Company LLC raised their target price on Paycom Software from $230.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus cut their target price on Paycom Software from $240.00 to $235.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $238.00.

Shares of NYSE PAYC traded up $1.95 during trading on Friday, reaching $232.75. The stock had a trading volume of 482,696 shares, compared to its average volume of 592,593. Paycom Software has a fifty-two week low of $107.46 and a fifty-two week high of $259.71. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.10. The business’s 50-day moving average price is $211.95 and its 200-day moving average price is $222.48. The company has a market cap of $13.59 billion, a P/E ratio of 106.77, a PEG ratio of 2.93 and a beta of 1.37.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.12. Paycom Software had a return on equity of 38.52% and a net margin of 23.99%. The business had revenue of $175.00 million during the quarter, compared to analysts’ expectations of $171.46 million. During the same period in the previous year, the firm posted $0.52 earnings per share. The company’s revenue was up 31.3% on a year-over-year basis. Analysts forecast that Paycom Software will post 2.81 EPS for the current fiscal year.

Paycom Software Company Profile

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.

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