Zacks Research Comments on Paycom Software FY2024 Earnings

Paycom Software, Inc. (NYSE:PAYC) – Equities researchers at Zacks Research upped their FY2024 EPS estimates for 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 earn $6.85 per share for the year, up from their prior estimate of $6.56. The consensus estimate for Paycom Software’s current full-year earnings is $6.84 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 subject of several other research reports. Citigroup boosted their price target on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Mizuho increased their target price on Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Jefferies Financial Group raised their price target on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. BMO Capital Markets boosted their price objective on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Finally, TD Cowen increased their price target on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Twelve investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $193.67.

Paycom Software Price Performance

Shares of PAYC stock opened at $230.32 on Monday. Paycom Software has a fifty-two week low of $139.50 and a fifty-two week high of $233.69. The stock’s 50-day moving average is $185.75 and its two-hundred day moving average is $167.42. The firm has a market cap of $13.28 billion, a P/E ratio of 27.72, a PEG ratio of 3.04 and a beta of 1.14.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be given a $0.375 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.65%. Paycom Software’s payout ratio is 18.05%.

Insider Transactions at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $229.09, for a total transaction of $446,725.50. Following the completion of the sale, the chief executive officer now owns 2,731,410 shares of the company’s stock, valued at approximately $625,738,716.90. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 56,550 shares of company stock worth $10,044,801 over the last 90 days. 14.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

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.