Paycom Software, Inc. (PAYC) to Issue Quarterly Dividend of $0.38 on June 10th

Paycom Software, Inc. (NYSE:PAYC) declared a quarterly dividend on Monday, April 29th, RTT News reports. Shareholders of record on Tuesday, May 28th will be paid a dividend of 0.375 per share by the software maker on Monday, June 10th. This represents a $1.50 annualized dividend and a yield of 0.84%. The ex-dividend date is Friday, May 24th.

Paycom Software has a payout ratio of 17.0% indicating that its dividend is sufficiently covered by earnings. 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 Stock Down 0.4 %

Shares of NYSE PAYC opened at $179.58 on Wednesday. Paycom Software has a 52 week low of $146.15 and a 52 week high of $374.04. The business has a 50-day simple moving average of $188.21 and a two-hundred day simple moving average of $189.05. The company has a market cap of $10.44 billion, a P/E ratio of 21.87, a P/E/G ratio of 2.83 and a beta of 1.17.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Mizuho dropped their price target on Paycom Software from $185.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research report on Thursday, May 2nd. BMO Capital Markets dropped their price target on Paycom Software from $200.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd. Piper Sandler lifted their price target on Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Finally, Citigroup dropped their price target on Paycom Software from $196.00 to $193.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Seventeen analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $246.31.

Insider Activity at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $179.78, for a total transaction of $350,571.00. Following the completion of the sale, the chief executive officer now directly owns 3,090,008 shares in the company, valued at $555,521,638.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.60% of the stock is currently owned by company insiders.

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.