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

Paycom Software, Inc. (NYSE:PAYC) declared a quarterly dividend on Monday, October 28th,RTT News reports. Investors of record on Monday, November 25th will be paid a dividend of 0.375 per share by the software maker on Monday, December 9th. This represents a $1.50 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Monday, November 25th.

Paycom Software has a payout ratio of 17.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Paycom Software to earn $7.26 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 20.7%.

Paycom Software Stock Up 1.5 %

Shares of PAYC opened at $230.32 on Friday. The stock has a fifty day simple moving average of $185.75 and a two-hundred day simple moving average of $167.49. The company has a market capitalization of $13.28 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 3.04 and a beta of 1.14. Paycom Software has a 52-week low of $139.50 and a 52-week high of $233.69.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PAYC. Barclays boosted their target price on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Mizuho lifted their price target on shares of Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Citigroup increased their price objective on Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. TD Cowen lifted their target price on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Finally, BMO Capital Markets upped their price target on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $193.67.

Insider Buying and Selling at Paycom Software

In other Paycom Software 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 transaction 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 represents a 0.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 56,550 shares of company stock valued at $10,044,801 in the last three months. 14.50% of the stock is owned by corporate insiders.

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.