Paycom Software Inc (NYSE:PAYC) Short Interest Update

Paycom Software Inc (NYSE:PAYC) saw a significant decrease in short interest in July. As of July 31st, there was short interest totalling 2,863,800 shares, a decrease of 8.1% from the June 30th total of 3,116,000 shares. Based on an average trading volume of 718,700 shares, the days-to-cover ratio is currently 4.0 days. Currently, 5.9% of the company’s shares are short sold.

Shares of NYSE PAYC traded up $6.84 during trading on Friday, reaching $241.98. The company had a trading volume of 210,052 shares, compared to its average volume of 649,356. Paycom Software has a 12-month low of $107.46 and a 12-month high of $246.85. The stock has a market cap of $14.23 billion, a PE ratio of 111.00, a P/E/G ratio of 3.29 and a beta of 1.59. The business’s 50-day moving average is $235.90 and its 200 day moving average is $204.52. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.07.

Paycom Software (NYSE:PAYC) last released its earnings results on Tuesday, July 30th. The software maker reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.14. Paycom Software had a return on equity of 38.25% and a net margin of 23.93%. The firm had revenue of $169.30 million for the quarter, compared to analysts’ expectations of $163.88 million. During the same period in the prior year, the firm posted $0.59 earnings per share. The company’s quarterly revenue was up 31.4% on a year-over-year basis. On average, analysts anticipate that Paycom Software will post 2.74 earnings per share for the current year.

Several brokerages recently weighed in on PAYC. Needham & Company LLC upped their price target on Paycom Software from $230.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Northland Securities upped their price target on Paycom Software from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 9th. Jefferies Financial Group cut Paycom Software from a “buy” rating to a “hold” rating and set a $233.00 price target on the stock. in a research note on Friday, July 19th. ValuEngine cut Paycom Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Credit Suisse Group upped their price target on Paycom Software from $190.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. They noted that the move was a valuation call. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Paycom Software has a consensus rating of “Hold” and an average target price of $216.29.

In related news, insider Jeffrey D. York sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $232.84, for a total value of $5,821,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Bradley Scott Smith sold 2,600 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $200.95, for a total value of $522,470.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,700 shares of company stock valued at $6,848,457. 16.09% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PAYC. Parallel Advisors LLC lifted its holdings in shares of Paycom Software by 6.9% during the second quarter. Parallel Advisors LLC now owns 755 shares of the software maker’s stock valued at $171,000 after purchasing an additional 49 shares in the last quarter. SeaCrest Wealth Management LLC lifted its holdings in Paycom Software by 1.9% in the second quarter. SeaCrest Wealth Management LLC now owns 2,700 shares of the software maker’s stock valued at $612,000 after acquiring an additional 50 shares during the period. Comerica Bank raised its stake in shares of Paycom Software by 2.6% in the first quarter. Comerica Bank now owns 2,206 shares of the software maker’s stock worth $414,000 after buying an additional 56 shares during the period. Raymond James Trust N.A. raised its stake in shares of Paycom Software by 4.9% in the second quarter. Raymond James Trust N.A. now owns 1,519 shares of the software maker’s stock worth $344,000 after buying an additional 71 shares during the period. Finally, Intrust Bank NA raised its stake in shares of Paycom Software by 1.3% in the first quarter. Intrust Bank NA now owns 5,642 shares of the software maker’s stock worth $1,067,000 after buying an additional 74 shares during the period. 75.17% of the stock is currently owned by hedge funds and other institutional investors.

About Paycom Software

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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