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

Paycom Software, Inc. (NYSE:PAYC) declared a quarterly dividend on Monday, July 29th, RTT News reports. Investors of record on Monday, August 26th will be given a dividend of 0.375 per share by the software maker on Monday, September 9th. This represents a $1.50 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Monday, August 26th.

Paycom Software has a payout ratio of 17.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Paycom Software to earn $7.15 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 21.0%.

Paycom Software Trading Up 1.9 %

NYSE PAYC opened at $163.23 on Friday. The company’s fifty day simple moving average is $153.21 and its 200-day simple moving average is $171.26. The stock has a market cap of $9.49 billion, a P/E ratio of 19.88, a PEG ratio of 2.22 and a beta of 1.16. Paycom Software has a 52 week low of $139.50 and a 52 week high of $299.00.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. TD Cowen upped their price objective on shares of Paycom Software from $147.00 to $171.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. William Blair restated a “market perform” rating on shares of Paycom Software in a research note on Thursday, May 2nd. Barclays upped their target price on Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. increased their target price on Paycom Software from $165.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Finally, StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Seventeen investment 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, Paycom Software currently has an average rating of “Hold” and a consensus target price of $178.33.

Insider Transactions at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $159.79, for a total transaction of $311,590.50. Following the completion of the sale, the chief executive officer now owns 2,969,108 shares of the company’s stock, valued at approximately $474,433,767.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $159.79, for a total transaction of $311,590.50. Following the completion of the transaction, the chief executive officer now owns 2,969,108 shares in the company, valued at approximately $474,433,767.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason D. Clark sold 906 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $143.61, for a total value of $130,110.66. Following the completion of the sale, the insider now directly owns 43,367 shares in the company, valued at $6,227,934.87. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,093 shares of company stock worth $11,942,223. 14.50% of the stock is currently owned by insiders.

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.