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

Paycom Software, Inc. (NYSE:PAYC) declared a quarterly dividend on Monday, February 10th,RTT News reports. Shareholders of record on Monday, March 10th will be given a dividend of 0.375 per share by the software maker on Monday, March 24th. This represents a $1.50 annualized dividend and a yield of 0.74%. The ex-dividend date is Monday, March 10th.

Paycom Software has a dividend 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 Stock Down 0.8 %

Paycom Software stock opened at $203.04 on Wednesday. Paycom Software has a 12 month low of $139.50 and a 12 month high of $242.74. The stock has a market cap of $11.71 billion, a P/E ratio of 24.43, a P/E/G ratio of 2.81 and a beta of 1.15. The company’s fifty day simple moving average is $212.25 and its 200-day simple moving average is $190.99.

Analyst Ratings Changes

Several research analysts have weighed in on PAYC shares. BMO Capital Markets upped their target price on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. TD Cowen raised their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Citigroup decreased their target price on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. StockNews.com upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a report on Friday, January 31st. Finally, Mizuho upped their price objective on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $204.75.

About Paycom Software

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.