Paycom Software, Inc. (NYSE:PAYC – Get Free Report ) was the target of a significant increase in short selling in May. As of May 31, short interest totaled 2,070,000 shares, up 21.1% from a total of 1,710,000 shares on May 15. Based on an average daily trading volume of 816,000 shares, the days coverage is currently at 2.5 days. Approximately 4.1% of the company’s shares are sold short.
Paycom Software trading up 1.3%
NYSE PAYC shares rose $1.79 to $142.78 in midday trading on Friday. The company’s stock was traded at 795,572 shares, with average trading volume of 858,268. Paycom Software’s 12-month low is $140.12 and high is $374.04. The company has a market cap of $8.3 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 2.17 and a beta of 1.17. The company’s 50-day simple moving average is $173.84 and its 200-day simple moving average is $186.44.
Paycom Software (NYSE:PAYC – Get free report ) announced its latest earnings results on Wednesday, May 1st. The software maker reported quarterly earnings per share (EPS) of $4.25, beating analysts’ consensus estimates of $1.96 by $2.29. Paycom Software had return on equity of 32.84% and net margin of 26.91%. Revenues for the quarter were $499.88 million, compared to analysts’ expectations of $495.89 million. Equity research analysts expect Paycom Software to report earnings per share of $6.26 for the current fiscal year.
Paycom Software announces dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Tuesday, May 28th were paid a $0.375 dividend. This equates to a $1.50 dividend on an annualized basis, or a yield of 1.05%. The ex-dividend date for this dividend was Friday, May 24th. Paycom Software’s dividend payout ratio is currently 18.27%.
Wall Street analysts predict growth
Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Barclays lowered their price target on Paycom Software from $193.00 to $184.00 and set an “equal weight” rating on the company in a research note on Thursday, May 2nd. StockNews.com raised Paycom Software from a “hold” rating to a “buy” rating in a research report on Tuesday, May 28th. Needham & Company LLC reiterated a “hold” rating on Paycom Software in a research report on Thursday, May 2nd. Finally, Mizuho lowered their price target on Paycom Software from $185.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Sixteen investment analysts have rated the stock with a “hold” rating, while four have rated it with a “buy” rating, according to data from MarketBeat.com. The company currently has an average rating of “hold” with a consensus price target of $246.31, according to data from MarketBeat.com.
Check out our latest stock analysis for PAYC
Internal Activities at Paycom Software
In other news, Executive Vice President Amy Vickroy sold 1,381 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $143.39, for a total transaction value of $198,021.59. Following the completion of the transaction, the Executive Vice President now directly owns 19,962 shares of the company’s stock, valued at approximately $2,862,351.18. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which is available at this hyperlink . In other news related to Paycom Software, insider Jason D. Clark sold 906 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $143.61, for a total transaction value of $130,110.66. With this sale, the insider now directly owns 43,367 shares of the company’s stock, valued at $6,227,934.87. The sale was disclosed in a document filed with the Securities and Exchange Commission, which can be accessed through this link. Additionally, Executive Vice President, Amy Vickroy sold 1,381 shares in a transaction on Tuesday, June 11th. The shares were sold at an average price of $143.39, for a total value of $198,021.59. With this transaction, the Executive Vice President now owns 19,962 shares of the company’s stock, valued at $2,862,351.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,837 shares of the company’s stock for a total value of $3,152,298. 14.50% of the stock is owned by company insiders.
Paycom Software Institutional Trading
Hedge funds and other institutional investors recently modified their holdings of the company. The Vanguard Group increased its holdings in Paycom Software by 2.4% in the fourth quarter. The Vanguard Group now owns 5,936,910 shares of the company’s stock, valued at $1,227,278,000, after purchasing an additional 137,583 shares in the last quarter. Silebra Capital LLC purchased a new stake in Paycom Software in the first quarter, valued at $253,196,000. American Century Companies increased its holdings in Paycom Software by 18.8% in the third quarter. American Century Companies now owns 1,139,511 shares of the company’s stock, valued at $295,441,000, after purchasing an additional 180,202 shares in the last quarter. Brown Capital Management LLC increased its holdings in Paycom Software by 10.1% during the fourth quarter. Brown Capital Management LLC now owns 1,106,045 shares of the software maker’s stock, valued at $228,642,000, after purchasing an additional 101,744 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in Paycom Software by 7.9% during the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 977,055 shares of the software maker’s stock, valued at $182,426,000, after purchasing an additional 71,272 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.
Paycom Software Company Profile
(Get your free report)
Paycom Software, Inc. provides cloud-based human capital management (HCM) solutions as software-as-a-service to small and medium-sized businesses in the United States, providing the functionality and data analytics companies need to manage the employee lifecycle from hire to retire.
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