Paycom Software, Inc. (PAYC) to Issue Quarterly Dividend of $0.38 on December 9th

Paycom Software, Inc. (NYSE:PAYC) announced a quarterly dividend on Monday, October 28th,RTT News reports. Stockholders of record on Monday, November 25th will be given 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 dividend yield of 0.65%. The ex-dividend date of this dividend is Monday, November 25th.

Paycom Software has a payout ratio of 17.2% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of PAYC opened at $230.32 on Friday. The firm has a market capitalization of $13.28 billion, a PE ratio of 27.72, a PEG ratio of 3.04 and a beta of 1.14. The company’s 50-day moving average is $184.53 and its 200-day moving average is $167.10. Paycom Software has a fifty-two week low of $139.50 and a fifty-two week high of $233.69.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Citigroup boosted their price target on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. TD Cowen upped their price target on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. BMO Capital Markets upped their target price on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Finally, Barclays raised their target price on Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $193.67.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $163.12, for a total transaction of $318,084.00. Following the completion of the sale, the chief executive officer now directly owns 3,534,499 shares in the company, valued at $576,547,476.88. This represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold 56,550 shares of company stock valued at $10,044,801 over 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.