Peering Into Paycom Software's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Paycom Software (NYSE:PAYC) has seen a 9.16% increase in its short percent of float since the last report, with 2.11 million shares sold short, representing 4.41% of available shares. This indicates a bearish sentiment among investors, although it's below the peer group average of 5.50%. The rise in short interest doesn't necessarily predict a price drop but suggests increased bearish activity.
April 03, 2024 | 5:30 pm
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Paycom Software's short interest has increased, indicating a bearish sentiment among investors, but it's still below its peer group average.
The increase in short interest for PAYC suggests that investors are becoming more bearish on the stock. However, being below the peer group average might mitigate some negative perceptions. The short-term impact is likely negative due to increased bearish sentiment, but the below-average peer comparison could provide some buffer.
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