Brokers Issue Forecasts for Paycom Software, Inc.’s FY2024 Earnings (NYSE:PAYC)

Paycom Software, Inc. (NYSE:PAYC) – Investment analysts at Zacks Research increased their FY2024 earnings per share (EPS) estimates for Paycom Software in a report issued on Wednesday, July 31st. Zacks Research analyst R. Department now forecasts that the software maker will post earnings per share of $7.61 for the year, up from their prior forecast of $6.36. The consensus estimate for Paycom Software’s current full-year earnings is $6.52 per share. Zacks Research also issued estimates for Paycom Software’s FY2025 earnings at $7.24 EPS, Q1 2026 earnings at $2.58 EPS and FY2026 earnings at $8.59 EPS.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, May 1st. The software maker reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $2.29. The business had revenue of $499.88 million for the quarter, compared to analysts’ expectations of $495.89 million. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%.

Several other brokerages have also weighed in on PAYC. Barclays lifted their target price on shares of Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a research report on Thursday. JPMorgan Chase & Co. upped their price objective on shares of Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Mizuho cut their target price on shares of Paycom Software from $185.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. TD Cowen lifted their price target on Paycom Software from $147.00 to $171.00 and gave the company a “hold” rating in a report on Thursday. Finally, William Blair restated a “market perform” rating on shares of Paycom Software in a research report on Thursday, May 2nd. Seventeen analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $178.33.

Paycom Software Price Performance

PAYC opened at $164.31 on Friday. Paycom Software has a fifty-two week low of $139.50 and a fifty-two week high of $303.13. The company has a market capitalization of $9.55 billion, a P/E ratio of 20.01, a P/E/G ratio of 2.71 and a beta of 1.16. The firm’s fifty day moving average price is $150.75 and its two-hundred day moving average price is $175.05.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Monday, August 26th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, August 26th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.91%. Paycom Software’s payout ratio is 18.27%.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $179.78, for a total transaction of $350,571.00. Following the completion of the transaction, the chief executive officer now owns 3,090,008 shares in the company, valued at approximately $555,521,638.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Paycom Software news, EVP Amy Vickroy sold 1,381 shares of Paycom Software stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $143.39, for a total value 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $179.78, for a total transaction of $350,571.00. Following the transaction, the chief executive officer now owns 3,090,008 shares of the company’s stock, valued at $555,521,638.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,887 shares of company stock valued at $8,722,999. 14.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Paycom Software

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mather Group LLC. bought a new stake in Paycom Software in the first quarter valued at approximately $26,000. Hexagon Capital Partners LLC increased its holdings in shares of Paycom Software by 333.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. Palisade Asset Management LLC bought a new position in shares of Paycom Software in the first quarter valued at about $32,000. MFA Wealth Advisors LLC acquired a new stake in shares of Paycom Software during the 2nd quarter worth about $26,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Paycom Software during the 2nd quarter worth about $27,000. 87.77% of the stock is 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.