Paycom Software, Inc. (NYSE:PAYC – Get Free Report) announced a quarterly dividend on Monday, July 29th, RTT News reports. Shareholders of record on Monday, August 26th will be given a dividend of 0.375 per share by the software maker on Monday, September 9th. This represents a $1.50 dividend on an annualized basis and a yield of 0.91%.
Paycom Software has a dividend payout ratio of 17.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Paycom Software to earn $7.17 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 20.9%.
Paycom Software Trading Up 0.1 %
Shares of Paycom Software stock traded up $0.20 during trading hours on Monday, reaching $164.23. The stock had a trading volume of 560,622 shares, compared to its average volume of 846,403. Paycom Software has a 1 year low of $139.50 and a 1 year high of $374.04. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 19.98, a P/E/G ratio of 2.72 and a beta of 1.16. The firm has a 50 day simple moving average of $151.90 and a two-hundred day simple moving average of $176.02.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the company. Mizuho lowered their price target on Paycom Software from $185.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Barclays dropped their target price on Paycom Software from $184.00 to $161.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. TD Cowen decreased their price target on Paycom Software from $170.00 to $147.00 and set a “hold” rating for the company in a report on Thursday, June 20th. JPMorgan Chase & Co. lifted their price objective on shares of Paycom Software from $165.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Finally, Jefferies Financial Group lowered their price target on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a report on Monday, June 24th. Seventeen research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $236.38.
Read Our Latest Stock Report on Paycom Software
Insider Buying and Selling at Paycom Software
In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $160.56, for a total value of $313,092.00. Following the completion of the transaction, the chief executive officer now directly owns 3,004,208 shares of the company’s stock, valued at approximately $482,355,636.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Amy Vickroy sold 1,381 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $143.39, for a total transaction of $198,021.59. Following the sale, the executive vice president now directly owns 19,962 shares in the company, valued at approximately $2,862,351.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $160.56, for a total value of $313,092.00. Following the completion of the sale, the chief executive officer now directly owns 3,004,208 shares in the company, valued at approximately $482,355,636.48. The disclosure for this sale can be found here. Insiders sold a total of 51,037 shares of company stock worth $7,754,590 over the last 90 days. Insiders own 14.50% 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.
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