usually water pump starts to go out it will begin to slowly leak through the weep hole. Well in most of my cases it did.
I dont think Ive heard a water pump tick before.
Does the ticking speed up as the rpms rise?
Did the tick just start, or been this way since u had car?
Maybe you can take a Long screw driver or something long and metal, Place head on water pump and stick your ear to the other end of screw driver and see how loud it is. Move it around and listen, maybe you can find where its coming from.