Paycom Software, Inc. (NYSE:PAYC – Get Free Report) declared a quarterly dividend on Monday, July 29th, RTT News reports. Shareholders of record on Monday, August 26th will be paid a dividend of 0.375 per share by the software maker on Monday, September 9th. This represents a $1.50 dividend on an annualized basis and a yield of 0.91%.
Paycom Software has a dividend payout ratio of 17.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Paycom Software to earn $7.17 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 Trading Up 0.1 %
Shares of PAYC stock opened at $164.23 on Tuesday. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 2.72 and a beta of 1.16. The business’s 50-day moving average price is $151.58 and its 200-day moving average price is $175.76. Paycom Software has a 12 month low of $139.50 and a 12 month high of $374.04.
Insider Buying and Selling
In other news, EVP Amy Vickroy sold 1,381 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $143.39, for a total transaction of $198,021.59. Following the completion of the sale, the executive vice president now directly owns 19,962 shares of the company’s stock, valued at approximately $2,862,351.18. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $180.82, for a total value of $352,599.00. Following the transaction, the chief executive officer now owns 3,091,958 shares in the company, valued at $559,087,845.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Amy Vickroy sold 1,381 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $143.39, for a total value of $198,021.59. Following the transaction, the executive vice president now directly owns 19,962 shares of the company’s stock, valued at $2,862,351.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,987 shares of company stock worth $8,072,635. 14.50% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several research analysts recently issued reports on PAYC shares. Mizuho lowered their target price on Paycom Software from $185.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Jefferies Financial Group decreased their target price on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, June 24th. JPMorgan Chase & Co. lifted their price objective on Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Finally, William Blair reaffirmed a “market perform” rating on shares of Paycom Software in a research report on Thursday, May 2nd. Seventeen analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $236.38.
Read Our Latest Stock Analysis on Paycom Software
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.
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