Paycom Software, Inc. Forecasted to Earn Q2 2024 Earnings of $1.11 Per Share (NYSE:PAYC)

Paycom Software, Inc. (NYSE:PAYC) – Equities research analysts at William Blair issued their Q2 2024 earnings per share estimates for shares of Paycom Software in a report released on Thursday, May 2nd. William Blair analyst J. Roberge anticipates that the software maker will post earnings per share of $1.11 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 $5.82 per share. William Blair also issued estimates for Paycom Software’s Q3 2024 earnings at $1.22 EPS, Q4 2024 earnings at $1.50 EPS, FY2024 earnings at $6.41 EPS, Q1 2025 earnings at $2.31 EPS, Q2 2025 earnings at $1.43 EPS, Q3 2025 earnings at $1.54 EPS, Q4 2025 earnings at $1.90 EPS and FY2025 earnings at $7.18 EPS.

Several other brokerages also recently weighed in on PAYC. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, May 2nd. JPMorgan Chase & Co. lifted their target price on Paycom Software from $165.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. StockNews.com raised shares of Paycom Software from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. BTIG Research initiated coverage on shares of Paycom Software in a report on Tuesday, February 6th. They issued a “neutral” rating on the stock. Finally, UBS Group raised their target price on shares of Paycom Software from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Sixteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Paycom Software presently has a consensus rating of “Hold” and an average target price of $246.31.

Paycom Software Price Performance

Shares of NYSE:PAYC opened at $176.47 on Monday. The firm’s 50 day simple moving average is $189.10 and its two-hundred day simple moving average is $192.16. The company has a market capitalization of $10.25 billion, a P/E ratio of 21.49, a P/E/G ratio of 2.84 and a beta of 1.17. Paycom Software has a 1-year low of $146.15 and a 1-year high of $374.04.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. The firm had revenue of $434.60 million for the quarter, compared to analysts’ expectations of $422.50 million. During the same period in the previous year, the firm earned $1.38 EPS. The business’s quarterly revenue was up 17.3% on a year-over-year basis.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, May 24th. Paycom Software’s dividend payout ratio is currently 18.27%.

Institutional Trading of Paycom Software

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Paycom Software by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 5,936,910 shares of the software maker’s stock worth $1,227,278,000 after buying an additional 137,583 shares during the last quarter. American Century Companies Inc. lifted its position in Paycom Software by 18.8% in the third quarter. American Century Companies Inc. now owns 1,139,511 shares of the software maker’s stock worth $295,441,000 after buying an additional 180,202 shares during the last quarter. Brown Capital Management LLC lifted its position in Paycom Software by 10.1% in the fourth quarter. Brown Capital Management LLC now owns 1,106,045 shares of the software maker’s stock worth $228,642,000 after buying an additional 101,744 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in Paycom Software by 7.9% in the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 977,055 shares of the software maker’s stock worth $182,426,000 after buying an additional 71,272 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in Paycom Software by 16,173.6% in the fourth quarter. International Assets Investment Management LLC now owns 787,803 shares of the software maker’s stock worth $162,855,000 after buying an additional 782,962 shares during the last quarter. 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.