Brokers Issue Forecasts for Paycom Software, Inc.’s Q1 2024 Earnings (NYSE:PAYC)

Paycom Software, Inc. (NYSE:PAYCFree Report) – Analysts at William Blair issued their Q1 2024 EPS estimates for shares of Paycom Software in a research report issued to clients and investors on Thursday, February 8th. William Blair analyst M. Pfau forecasts that the software maker will post earnings of $1.95 per share for the quarter. William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for Paycom Software’s current full-year earnings is $6.25 per share. William Blair also issued estimates for Paycom Software’s Q3 2024 earnings at $1.18 EPS and Q4 2024 earnings at $1.47 EPS.

Paycom Software (NYSE:PAYCGet Free Report) last released its earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. The company had revenue of $434.60 million for the quarter, compared to analyst estimates of $422.50 million. Paycom Software had a net margin of 20.12% and a return on equity of 24.60%. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.38 EPS.

Several other brokerages have also weighed in on PAYC. Jefferies Financial Group reiterated a “hold” rating and set a $195.00 price objective on shares of Paycom Software in a report on Friday, January 5th. Stifel Nicolaus lowered shares of Paycom Software from a “buy” rating to a “hold” rating and cut their price objective for the stock from $400.00 to $160.00 in a report on Wednesday, November 1st. Piper Sandler increased their price objective on shares of Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. BMO Capital Markets dropped their target price on shares of Paycom Software from $320.00 to $190.00 and set a “market perform” rating for the company in a research report on Wednesday, November 1st. Finally, JPMorgan Chase & Co. increased their target price on shares of Paycom Software from $140.00 to $165.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Seventeen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $262.33.

View Our Latest Stock Analysis on Paycom Software

Paycom Software Trading Up 0.9 %

Shares of PAYC stock opened at $191.69 on Monday. The firm has a market cap of $11.55 billion, a P/E ratio of 32.49, a PEG ratio of 2.60 and a beta of 1.21. Paycom Software has a 1-year low of $146.15 and a 1-year high of $374.04. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.11 and a quick ratio of 1.11. The firm’s 50-day simple moving average is $197.34 and its 200-day simple moving average is $234.07.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 18th. Shareholders of record on Monday, March 4th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Friday, March 1st. Paycom Software’s payout ratio is 25.42%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Hexagon Capital Partners LLC grew its holdings in Paycom Software by 333.3% during the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock worth $27,000 after acquiring an additional 100 shares during the period. Fairfield Bush & CO. acquired a new position in Paycom Software during the second quarter worth about $27,000. KB Financial Partners LLC acquired a new position in Paycom Software during the first quarter worth about $28,000. Clear Street Markets LLC grew its holdings in Paycom Software by 98.0% during the first quarter. Clear Street Markets LLC now owns 97 shares of the software maker’s stock worth $29,000 after acquiring an additional 48 shares during the period. Finally, Lindbrook Capital LLC grew its holdings in Paycom Software by 5,100.0% during the second quarter. Lindbrook Capital LLC now owns 104 shares of the software maker’s stock worth $33,000 after acquiring an additional 102 shares during the period. 88.69% of the stock is owned by institutional investors and hedge funds.

About Paycom Software

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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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