FY2024 EPS Forecast for Paycom Software Increased by Analyst

Paycom Software, Inc. (NYSE:PAYC) – Equities researchers at Zacks Research increased their FY2024 earnings per share estimates for shares of Paycom Software in a research report issued on Wednesday, November 20th. Zacks Research analyst R. Department now anticipates that the software maker will post earnings per share of $6.85 for the year, up from their prior estimate 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.

PAYC has been the topic of several other research reports. Mizuho boosted their price target on shares of Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Citigroup raised their price target on shares of Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. BMO Capital Markets upped their price objective on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Finally, Piper Sandler raised their target price on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $193.67.

Paycom Software Trading Up 0.7 %

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

Institutional Trading of Paycom Software

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its position in Paycom Software by 51.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker’s stock valued at $444,000 after buying an additional 905 shares during the last quarter. Sylebra Capital LLC acquired a new stake in Paycom Software in the first quarter worth about $253,196,000. Profund Advisors LLC bought a new stake in Paycom Software during the 2nd quarter worth about $589,000. BOKF NA lifted its position in Paycom Software by 453.0% during the 1st quarter. BOKF NA now owns 9,219 shares of the software maker’s stock valued at $1,828,000 after purchasing an additional 7,552 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Paycom Software by 1,549.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 21,662 shares of the software maker’s stock valued at $3,098,000 after purchasing an additional 20,349 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $162.00, for a total transaction of $315,900.00. Following the transaction, the chief executive officer now directly owns 2,941,808 shares in the company, valued at approximately $476,572,896. 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 accessible through this link. In the last quarter, insiders sold 54,600 shares of company stock worth $9,726,717. 14.50% of the stock is currently owned by insiders.

Paycom Software Dividend Announcement

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

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.