Paycom Software, Inc. to Issue Quarterly Dividend of $0.38 (NYSE:PAYC)

Paycom Software, Inc. (NYSE:PAYC - Get Free Report) declared a quarterly dividend on Monday, May 5th, RTT News reports. Shareholders of record on Tuesday, May 27th will be paid a dividend of 0.375 per share by the software maker on Monday, June 9th. This represents a $1.50 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Tuesday, May 27th.

Paycom Software has a payout ratio of 15.5% indicating that 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 Performance

PAYC traded up $21.08 during midday trading on Thursday, reaching $249.75. 1,027,303 shares of the company were exchanged, compared to its average volume of 697,674. The stock has a market capitalization of $14.45 billion, a P/E ratio of 27.97, a PEG ratio of 2.40 and a beta of 0.80. Paycom Software has a one year low of $139.50 and a one year high of $254.18. The stock's 50-day simple moving average is $216.54 and its 200 day simple moving average is $213.46.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.62 by $0.18. The firm had revenue of $530.50 million during the quarter, compared to analysts' expectations of $522.92 million. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. The business's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.59 earnings per share. On average, research analysts anticipate that Paycom Software will post 7.15 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on PAYC shares. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a report on Thursday. Stifel Nicolaus increased their price target on shares of Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research note on Thursday. JPMorgan Chase & Co. upped their price objective on shares of Paycom Software from $185.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Barclays boosted their price target on Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a research note on Thursday. Finally, KeyCorp raised their price target on Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $226.90.

Insider Activity at Paycom Software

In related news, insider Bradley Scott Smith sold 3,000 shares of Paycom Software stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $201.01, for a total transaction of $603,030.00. Following the completion of the transaction, the insider now directly owns 28,733 shares of the company's stock, valued at $5,775,620.33. This trade represents a 9.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Randall Peck sold 3,600 shares of the company's stock in a transaction dated Friday, February 21st. The stock was 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 owns 50,665 shares in the company, valued at approximately $10,750,606.35. This trade represents a 6.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,100 shares of company stock worth $1,476,024 over the last 90 days. 10.90% of the stock is owned by company insiders.

Institutional Trading of Paycom Software

An institutional investor recently bought a new position in Paycom Software stock. Brighton Jones LLC purchased a new position in Paycom Software, Inc. (NYSE:PAYC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,110 shares of the software maker's stock, valued at approximately $638,000. Institutional investors 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.