Paycom Software FY2024 EPS Forecast Raised by Zacks Research

Paycom Software, Inc. (NYSE:PAYC) – Zacks Research lifted their FY2024 earnings per share (EPS) estimates for shares of Paycom Software in a research note issued to investors on Wednesday, November 20th. Zacks Research analyst R. Department now forecasts that the software maker will post earnings per share of $6.85 for the year, up from their previous forecast of $6.56. The consensus estimate for Paycom Software’s current full-year earnings is $6.88 per share. Zacks Research also issued estimates for Paycom Software’s Q4 2024 earnings at $1.59 EPS, Q1 2025 earnings at $2.30 EPS, Q2 2025 earnings at $1.44 EPS, Q3 2025 earnings at $1.55 EPS, Q4 2025 earnings at $1.83 EPS, FY2025 earnings at $7.12 EPS, Q1 2026 earnings at $2.47 EPS, Q2 2026 earnings at $1.71 EPS, Q3 2026 earnings at $1.83 EPS and FY2026 earnings at $8.02 EPS.

A number of other analysts have also commented on PAYC. Jefferies Financial Group upped their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. BMO Capital Markets boosted their target price on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Citigroup raised their target price on Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Mizuho raised their price objective on Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Twelve investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $193.67.

Paycom Software Stock Up 0.7 %

NYSE:PAYC opened at $236.20 on Monday. The stock has a fifty day simple moving average of $188.41 and a 200 day simple moving average of $168.26. The firm has a market capitalization of $13.62 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 3.07 and a beta of 1.14. Paycom Software has a 1-year low of $139.50 and a 1-year high of $236.75.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.64%. The ex-dividend date is Monday, November 25th. Paycom Software’s payout ratio is presently 18.05%.

Insider Transactions at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $160.35, for a total transaction of $312,682.50. Following the completion of the sale, the chief executive officer now owns 2,947,658 shares of the company’s stock, valued at $472,656,960.30. This represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 54,600 shares of company stock worth $9,726,717 in the last 90 days. 14.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new position in shares of Paycom Software in the second quarter worth about $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of Paycom Software in the second quarter worth $26,000. Armstrong Advisory Group Inc. bought a new position in Paycom Software during the third quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Paycom Software during the 2nd quarter valued at $27,000. Finally, Brooklyn Investment Group bought a new stake in Paycom Software in the 3rd quarter valued at $28,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

About Paycom Software

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.