Zacks Research Lifts Earnings Estimates for Paycom Software

Paycom Software, Inc. (NYSE:PAYC) – Equities research analysts at Zacks Research boosted their FY2024 EPS estimates for Paycom Software in a research report issued to clients and investors on Wednesday, November 20th. Zacks Research analyst R. Department now forecasts that the software maker will post earnings of $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 $6.88 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.

Other equities research analysts also recently issued reports about the stock. Barclays lifted their target price on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Citigroup raised their target price on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. BMO Capital Markets upped their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Finally, TD Cowen boosted their target price 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 analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Paycom Software currently has a consensus rating of “Hold” and an average price target of $193.67.

Paycom Software Trading Up 2.1 %

Shares of NYSE:PAYC opened at $234.78 on Monday. The firm has a 50 day moving average of $185.75 and a 200-day moving average of $167.39. The stock has a market capitalization of $13.54 billion, a PE ratio of 27.72, a PEG ratio of 3.07 and a beta of 1.14. Paycom Software has a 12 month low of $139.50 and a 12 month high of $236.24.

Institutional Investors Weigh In On Paycom Software

A number of large investors have recently modified their holdings of PAYC. Wilmington Savings Fund Society FSB purchased a new position in shares of Paycom Software during the 3rd quarter worth approximately $79,000. Sanctuary Advisors LLC boosted its position in shares of Paycom Software by 42.1% during the third quarter. Sanctuary Advisors LLC now owns 8,501 shares of the software maker’s stock valued at $1,416,000 after purchasing an additional 2,517 shares in the last quarter. Pine Valley Investments Ltd Liability Co grew its stake in Paycom Software by 26.5% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 14,053 shares of the software maker’s stock worth $2,341,000 after purchasing an additional 2,944 shares during the period. Toronto Dominion Bank raised its holdings in Paycom Software by 2.3% in the third quarter. Toronto Dominion Bank now owns 24,825 shares of the software maker’s stock worth $4,135,000 after purchasing an additional 569 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Paycom Software by 3.3% during the third quarter. Geode Capital Management LLC now owns 1,426,920 shares of the software maker’s stock valued at $237,015,000 after buying an additional 45,404 shares during the period. Institutional investors own 87.77% of the company’s stock.

Insider Activity

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the 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 $625,738,716.90. This represents a 0.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 54,600 shares of company stock valued at $9,726,717. Insiders own 12.60% of the company’s stock.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be issued a $0.375 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.64%. Paycom Software’s dividend payout ratio is currently 18.05%.

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.