Paycom Software, Inc. (NYSE:PAYC) Announces $0.38 Quarterly Dividend

Paycom Software, Inc. (NYSE:PAYC) declared a quarterly dividend on Monday, October 28th,RTT News reports. Shareholders of record on Monday, November 25th will be given a dividend of 0.375 per share by the software maker on Monday, December 9th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Monday, November 25th.

Paycom Software has a payout ratio of 17.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Paycom Software to earn $7.26 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 20.7%.

Paycom Software Trading Up 1.5 %

Shares of PAYC stock opened at $230.32 on Friday. The stock has a market cap of $13.28 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 3.04 and a beta of 1.14. Paycom Software has a 12 month low of $139.50 and a 12 month high of $233.69. The company’s fifty day moving average price is $184.53 and its 200-day moving average price is $167.10.

Analysts Set New Price Targets

Several research firms recently commented on PAYC. Citigroup increased their price objective on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. BMO Capital Markets lifted their target price on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Jefferies Financial Group boosted their target price on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. TD Cowen lifted their price objective on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Twelve investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $193.67.

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 dated Wednesday, September 4th. The shares were sold at an average price of $160.35, for a total transaction of $312,682.50. Following the sale, the chief executive officer now directly owns 2,947,658 shares in the company, valued at approximately $472,656,960.30. This represents a 0.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 56,550 shares of company stock valued at $10,044,801 in the last 90 days. Insiders own 14.50% of the company’s stock.

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.