Paycom Software, Inc. (NYSE:PAYC) Announces Quarterly Dividend of $0.38

Paycom Software, Inc. (NYSE:PAYC) announced a quarterly dividend on Monday, February 10th,RTT News reports. Stockholders of record on Monday, March 10th will be paid a dividend of 0.375 per share by the software maker on Monday, March 24th. This represents a $1.50 annualized dividend and a dividend yield of 0.73%.

Paycom Software has a payout ratio of 16.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Paycom Software to earn $7.16 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 Price Performance

Shares of PAYC stock opened at $204.85 on Tuesday. Paycom Software has a one year low of $139.50 and a one year high of $242.74. The stock has a fifty day moving average price of $212.80 and a 200 day moving average price of $190.69. The stock has a market cap of $11.81 billion, a P/E ratio of 24.65, a price-to-earnings-growth ratio of 2.81 and a beta of 1.15.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PAYC shares. Citigroup decreased their target price on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. StockNews.com upgraded Paycom Software from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. Jefferies Financial Group upped their price target on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Piper Sandler lifted their price objective on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Barclays reduced their target price on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $204.75.

Insiders Place Their Bets

In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $229.09, for a total value of $446,725.50. Following the sale, the chief executive officer now directly owns 2,731,410 shares in the company, valued at $625,738,716.90. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 14.50% of the company’s stock.

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.