Paycom Software, Inc. (NYSE:PAYC) Expected to Post Q2 2024 Earnings of $1.11 Per Share

Paycom Software, Inc. (NYSE:PAYC) – Research analysts at William Blair issued their Q2 2024 earnings per share estimates for Paycom Software in a report released on Thursday, May 2nd. William Blair analyst J. Roberge anticipates that the software maker will post earnings of $1.11 per share for the quarter. William Blair 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.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, February 7th. The software maker reported $1.93 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 analysts’ expectations of $422.50 million. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. Paycom Software’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.38 earnings per share.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. boosted their target price on Paycom Software from $165.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Piper Sandler raised their target price on Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, May 2nd. StockNews.com raised shares of Paycom Software from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Finally, BTIG Research began coverage on shares of Paycom Software in a research report on Tuesday, February 6th. They issued a “neutral” rating for the company. Sixteen research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $246.31.

Paycom Software Stock Performance

Paycom Software stock opened at $176.47 on Monday. The company has a market capitalization of $10.25 billion, a price-to-earnings ratio of 21.49, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17. The company’s 50 day simple moving average is $189.10 and its 200-day simple moving average is $192.16. Paycom Software has a 1 year low of $146.15 and a 1 year high of $374.04.

Paycom Software Announces Dividend

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 given a dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $1.50 annualized dividend and a dividend yield of 0.85%. Paycom Software’s dividend payout ratio (DPR) is currently 18.27%.

Institutional Investors Weigh In On Paycom Software

Several institutional investors have recently modified their holdings of PAYC. Oak Family Advisors LLC purchased a new stake in Paycom Software in the fourth quarter valued at $2,994,000. Nordea Investment Management AB boosted its holdings in Paycom Software by 8.8% during the third quarter. Nordea Investment Management AB now owns 261,428 shares of the software maker’s stock worth $68,912,000 after buying an additional 21,095 shares in the last quarter. Kornitzer Capital Management Inc. KS purchased a new stake in Paycom Software during the fourth quarter worth about $6,615,000. TCG Advisory Services LLC purchased a new stake in Paycom Software during the fourth quarter worth about $13,058,000. Finally, US Bancorp DE boosted its holdings in Paycom Software by 25.8% during the third quarter. US Bancorp DE now owns 91,950 shares of the software maker’s stock worth $23,840,000 after buying an additional 18,857 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

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.