Paycom Software, Inc. (NYSE:PAYC – Free Report) – Equities research analysts at DA Davidson issued their Q3 2023 earnings estimates for Paycom Software in a research note issued on Thursday, August 3rd. DA Davidson analyst R. Simmons forecasts that the software maker will post earnings per share of $1.20 for the quarter. The consensus estimate for Paycom Software’s current full-year earnings is $6.20 per share.
PAYC has been the subject of a number of other research reports. Needham & Company LLC reissued a “buy” rating and issued a $450.00 target price on shares of Paycom Software in a research note on Wednesday. Barclays lowered their price objective on Paycom Software from $368.00 to $350.00 and set an “equal weight” rating for the company in a research report on Wednesday. Credit Suisse Group raised their target price on shares of Paycom Software from $375.00 to $395.00 and gave the stock an “outperform” rating in a report on Wednesday. Mizuho lowered their price target on shares of Paycom Software from $350.00 to $325.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, BMO Capital Markets raised their price target on shares of Paycom Software from $340.00 to $356.00 and gave the stock a “market perform” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $384.53.
Paycom Software Stock Performance
Paycom Software (NYSE:PAYC – Get Free Report) last released its earnings results on Tuesday, May 2nd. The software maker reported $2.06 EPS for the quarter, beating the consensus estimate of $2.00 by $0.06. The company had revenue of $451.64 million for the quarter, compared to analyst estimates of $444.23 million. Paycom Software had a net margin of 20.28% and a return on equity of 26.02%.
Paycom Software Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Monday, August 28th will be given a dividend of $0.375 per share. The ex-dividend date is Friday, August 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.52%. Paycom Software’s dividend payout ratio (DPR) is currently 27.52%.
Insider Buying and Selling
In other news, Director Jason D. Clark sold 430 shares of Paycom Software stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $278.99, for a total transaction of $119,965.70. Following the completion of the transaction, the director now directly owns 5,100 shares in the company, valued at $1,422,849. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 14.50% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Paycom Software
Several institutional investors and hedge funds have recently modified their holdings of the stock. Compagnie Lombard Odier SCmA purchased a new position in Paycom Software in the 4th quarter worth approximately $26,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Paycom Software during the fourth quarter valued at $26,000. Ridgewood Investments LLC bought a new stake in Paycom Software in the 1st quarter worth about $26,000. HHM Wealth Advisors LLC lifted its stake in Paycom Software by 350.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 90 shares of the software maker’s stock valued at $27,000 after acquiring an additional 70 shares during the period. Finally, KB Financial Partners LLC purchased a new stake in shares of Paycom Software during the 1st quarter valued at about $28,000. 74.73% 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.
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