Paycom Software, Inc. (PAYC) To Go Ex-Dividend on March 10th

Paycom Software, Inc. (NYSE:PAYC) announced a quarterly dividend on Monday, February 10th, RTT News reports. Shareholders of record on Monday, March 10th will be given a dividend of 0.375 per share by the software maker on Monday, March 24th. This represents a $1.50 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Monday, March 10th.

Paycom Software has a dividend payout ratio of 15.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Paycom Software to earn $7.97 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 18.8%.

Paycom Software Stock Up 4.6 %

PAYC stock opened at $213.03 on Friday. Paycom Software has a 12-month low of $139.50 and a 12-month high of $242.74. The company has a market cap of $12.20 billion, a price-to-earnings ratio of 23.94, a PEG ratio of 2.40 and a beta of 1.15. The company has a 50 day moving average of $208.61 and a two-hundred day moving average of $197.65.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. On average, research analysts anticipate that Paycom Software will post 7.15 EPS for the current year.

Analysts Set New Price Targets

PAYC has been the topic of several recent analyst reports. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, February 13th. Piper Sandler lifted their target price on shares of Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Barclays dropped their target price on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Finally, Stifel Nicolaus dropped their target price on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. Twelve analysts have rated the stock with a hold rating, According to MarketBeat.com, Paycom Software currently has a consensus rating of “Hold” and a consensus target price of $209.22.

Insider Activity at Paycom Software

In related news, COO Randall Peck sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $212.19, for a total transaction of $763,884.00. Following the completion of the sale, the chief operating officer now directly owns 50,665 shares of the company’s stock, valued at $10,750,606.35. The trade was a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director J C. Watts, Jr. sold 500 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $218.22, for a total transaction of $109,110.00. Following the sale, the director now directly owns 7,730 shares of the company’s stock, valued at approximately $1,686,840.60. This trade represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Paycom Software stock. Brighton Jones LLC purchased a new stake in Paycom Software, Inc. (NYSE:PAYC) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,110 shares of the software maker’s stock, valued at approximately $638,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

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.