Brokers Offer Predictions for Paycom Software, Inc.’s Q1 2024 Earnings (NYSE:PAYC)

Paycom Software, Inc. (NYSE:PAYCFree Report) – Analysts at William Blair issued their Q1 2024 earnings estimates for Paycom Software in a report issued on Thursday, February 8th. William Blair analyst M. Pfau expects that the software maker will earn $1.95 per share for the quarter. William Blair has a “Market Perform” rating on the stock. The consensus estimate for Paycom Software’s current full-year earnings is $6.25 per share. William Blair also issued estimates for Paycom Software’s Q3 2024 earnings at $1.18 EPS and Q4 2024 earnings at $1.47 EPS.

Paycom Software (NYSE:PAYCGet Free Report) last released its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.15. Paycom Software had a net margin of 20.12% and a return on equity of 24.60%. The business had revenue of $434.60 million for the quarter, compared to the consensus estimate of $422.50 million. During the same period last year, the firm earned $1.38 earnings per share. The company’s quarterly revenue was up 17.3% on a year-over-year basis.

Several other research firms also recently weighed in on PAYC. KeyCorp downgraded shares of Paycom Software from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, November 1st. Citigroup decreased their price objective on shares of Paycom Software from $205.00 to $198.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 31st. BTIG Research started coverage on shares of Paycom Software in a research report on Tuesday, February 6th. They set a “neutral” rating on the stock. TD Cowen downgraded shares of Paycom Software from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $331.00 to $202.00 in a research report on Wednesday, November 1st. Finally, JPMorgan Chase & Co. raised their target price on shares of Paycom Software from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Seventeen research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $262.33.

Check Out Our Latest Analysis on PAYC

Paycom Software Stock Up 0.9 %

PAYC opened at $191.69 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.02. Paycom Software has a 1-year low of $146.15 and a 1-year high of $374.04. The company has a market capitalization of $11.55 billion, a PE ratio of 32.49, a PEG ratio of 2.60 and a beta of 1.21. The firm’s 50 day simple moving average is $197.34 and its two-hundred day simple moving average is $234.07.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 18th. Investors of record on Monday, March 4th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, March 1st. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.78%. Paycom Software’s dividend payout ratio is presently 25.42%.

Hedge Funds Weigh In On Paycom Software

A number of large investors have recently made changes to their positions in the company. Fairfield Bush & CO. purchased a new stake in Paycom Software in the 1st quarter valued at about $48,000. Cetera Advisor Networks LLC boosted its position in Paycom Software by 15.4% in the 1st quarter. Cetera Advisor Networks LLC now owns 771 shares of the software maker’s stock valued at $267,000 after buying an additional 103 shares during the period. Acadian Asset Management LLC boosted its position in Paycom Software by 356.2% in the 1st quarter. Acadian Asset Management LLC now owns 406 shares of the software maker’s stock valued at $140,000 after buying an additional 317 shares during the period. Panagora Asset Management Inc. boosted its position in Paycom Software by 62.1% in the 1st quarter. Panagora Asset Management Inc. now owns 3,740 shares of the software maker’s stock valued at $1,295,000 after buying an additional 1,433 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Paycom Software by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,443 shares of the software maker’s stock valued at $2,232,000 after buying an additional 401 shares during the period. 88.69% of the stock is owned by hedge funds and other institutional investors.

About Paycom Software

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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.

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