Analysts Set Expectations for Paycom Software, Inc.’s Q2 2024 Earnings (NYSE:PAYC)

Paycom Software, Inc. (NYSE:PAYC) – Equities research analysts at William Blair issued their Q2 2024 earnings per share (EPS) estimates for shares of Paycom Software in a report released on Thursday, May 2nd. William Blair analyst J. Roberge expects that the software maker will post earnings of $1.11 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 $5.82 per share. William Blair also issued estimates for Paycom Software’s Q3 2024 earnings at $1.22 EPS, Q4 2024 earnings at $1.50 EPS, FY2024 earnings at $6.41 EPS, Q1 2025 earnings at $2.31 EPS, Q2 2025 earnings at $1.43 EPS, Q3 2025 earnings at $1.54 EPS, Q4 2025 earnings at $1.90 EPS and FY2025 earnings at $7.18 EPS.

Other research analysts also recently issued research reports about the company. Piper Sandler increased their price target on Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Barclays lowered their price target on shares of Paycom Software from $193.00 to $184.00 and set an “equal weight” rating on the stock in a research report on Thursday. UBS Group raised their price objective on shares of Paycom Software from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a report on Thursday. Finally, BMO Capital Markets dropped their target price on Paycom Software from $200.00 to $190.00 and set a “market perform” rating on the stock in a research report on Thursday. Sixteen research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Paycom Software presently has an average rating of “Hold” and an average price target of $247.25.

Paycom Software Trading Up 2.7 %

Paycom Software stock opened at $171.29 on Monday. The business’s 50 day simple moving average is $189.34 and its 200 day simple moving average is $193.38. Paycom Software has a 12 month low of $146.15 and a 12 month high of $374.04. The company has a market cap of $9.86 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 2.92 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 EPS for the quarter, topping the consensus estimate of $1.78 by $0.15. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. The business had revenue of $434.60 million for the quarter, compared to analyst estimates of $422.50 million. During the same quarter in the previous year, the firm posted $1.38 earnings per share. The company’s revenue for the quarter was up 17.3% on a year-over-year basis.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, May 24th. Paycom Software’s payout ratio is currently 18.27%.

Hedge Funds Weigh In On Paycom Software

Large investors have recently modified their holdings of the company. International Assets Investment Management LLC grew its position in Paycom Software by 16,173.6% during the fourth quarter. International Assets Investment Management LLC now owns 787,803 shares of the software maker’s stock valued at $162,855,000 after acquiring an additional 782,962 shares during the last quarter. ValueAct Holdings L.P. purchased a new position in Paycom Software in the 4th quarter worth $125,686,000. Meritage Group LP bought a new stake in Paycom Software in the third quarter worth $103,800,000. Boston Trust Walden Corp purchased a new stake in Paycom Software during the fourth quarter valued at about $48,865,000. Finally, DSM Capital Partners LLC purchased a new stake in Paycom Software during the third quarter valued at about $60,077,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

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.