Zacks Research Weighs in on Paycom Software, Inc.’s Q2 2024 Earnings (NYSE:PAYC)

Paycom Software, Inc. (NYSE:PAYC) – Research analysts at Zacks Research raised their Q2 2024 earnings per share estimates for shares of Paycom Software in a research note issued to investors on Wednesday, May 22nd. Zacks Research analyst R. Department now anticipates that the software maker will post earnings per share of $1.12 for the quarter, up from their previous estimate of $1.09. The consensus estimate for Paycom Software’s current full-year earnings is $6.16 per share. Zacks Research also issued estimates for Paycom Software’s Q3 2024 earnings at $1.20 EPS, Q4 2024 earnings at $1.45 EPS, FY2024 earnings at $6.37 EPS, Q1 2025 earnings at $2.59 EPS, Q2 2025 earnings at $1.37 EPS, Q3 2025 earnings at $1.50 EPS, Q4 2025 earnings at $1.80 EPS, FY2025 earnings at $7.26 EPS, Q1 2026 earnings at $2.67 EPS and FY2026 earnings at $9.04 EPS.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, May 1st. The software maker reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $2.29. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. The company had revenue of $499.88 million during the quarter, compared to analysts’ expectations of $495.89 million.

A number of other equities analysts have also commented on the company. BMO Capital Markets lowered their price objective on Paycom Software from $200.00 to $190.00 and set a “market perform” rating on the stock in a research note on Thursday, May 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research note on Thursday, May 2nd. BTIG Research initiated coverage on shares of Paycom Software in a research note on Tuesday, February 6th. They set a “neutral” rating on the stock. Barclays cut their price target on shares of Paycom Software from $193.00 to $184.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Paycom Software from $165.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Seventeen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $246.31.

Paycom Software Stock Down 1.9 %

Shares of NYSE:PAYC opened at $170.68 on Friday. Paycom Software has a 12-month low of $146.15 and a 12-month high of $374.04. The company’s 50 day moving average price is $187.75 and its two-hundred day moving average price is $188.89. The firm has a market cap of $9.92 billion, a PE ratio of 21.25, a PEG ratio of 2.83 and a beta of 1.17.

Paycom Software Announces Dividend

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

Insider Activity at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $179.78, for a total value of $350,571.00. Following the sale, the chief executive officer now directly owns 3,090,008 shares in the company, valued at $555,521,638.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 5,850 shares of company stock worth $1,048,223 over the last three months. Company insiders own 14.50% of the company’s stock.

Institutional Trading of Paycom Software

A number of large investors have recently bought and sold shares of PAYC. Mather Group LLC. acquired a new stake in Paycom Software during the first quarter worth approximately $26,000. Hexagon Capital Partners LLC increased its stake in shares of Paycom Software by 333.3% in the 4th quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock valued at $27,000 after acquiring an additional 100 shares in the last quarter. Palisade Asset Management LLC bought a new stake in shares of Paycom Software in the 1st quarter valued at $32,000. Cary Street Partners Investment Advisory LLC lifted its position in shares of Paycom Software by 83.5% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock valued at $40,000 after acquiring an additional 71 shares during the period. Finally, Transcendent Capital Group LLC bought a new position in Paycom Software during the fourth quarter worth $41,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

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.