Paycom Software, Inc. (NYSE:PAYC) Announces $0.38 Quarterly Dividend

Paycom Software, Inc. (NYSE:PAYC) announced a quarterly dividend on Monday, April 29th, RTT News reports. Investors of record on Tuesday, May 28th will be given a dividend of 0.375 per share by the software maker on Monday, June 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, May 24th.

Paycom Software has a dividend payout ratio of 17.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Paycom Software to earn $7.05 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 21.3%.

Paycom Software Price Performance

NYSE PAYC opened at $180.65 on Thursday. The company’s 50 day simple moving average is $188.06 and its 200 day simple moving average is $188.99. Paycom Software has a 12 month low of $146.15 and a 12 month high of $374.04. The company has a market capitalization of $10.50 billion, a P/E ratio of 22.00, a PEG ratio of 2.82 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, May 1st. The software maker reported $4.25 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $2.29. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. The business had revenue of $499.88 million for the quarter, compared to the consensus estimate of $495.89 million. On average, analysts anticipate that Paycom Software will post 6.16 earnings per share for the current year.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $179.78, for a total value of $350,571.00. Following the completion of the sale, the chief executive officer now directly owns 3,090,008 shares of the company’s stock, valued at $555,521,638.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 14.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PAYC shares. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Monday. JPMorgan Chase & Co. boosted their price target on shares of Paycom Software from $165.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Barclays cut their price target on shares of Paycom Software from $193.00 to $184.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. William Blair restated a “market perform” rating on shares of Paycom Software in a report on Thursday, May 2nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a report on Thursday, May 2nd. Seventeen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $246.31.

Paycom Software Company Profile

Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.