Q2 2024 Earnings Forecast for Paycom Software, Inc. Issued By William Blair (NYSE:PAYC)

Paycom Software, Inc. (NYSE:PAYC) – Equities research analysts at William Blair issued their Q2 2024 earnings estimates for shares of Paycom Software in a note issued to investors on Thursday, May 2nd. William Blair analyst J. Roberge expects that the software maker will earn $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.

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

Several other equities analysts also recently commented on PAYC. Citigroup dropped their price objective on Paycom Software from $196.00 to $193.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, May 2nd. 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. Barclays cut their target price on shares of Paycom Software from $193.00 to $184.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Paycom Software from $165.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Sixteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $246.31.

Paycom Software Stock Up 1.8 %

PAYC opened at $174.44 on Monday. The company’s 50-day moving average price is $189.23 and its two-hundred day moving average price is $192.74. Paycom Software has a twelve month low of $146.15 and a twelve month high of $374.04. The stock has a market cap of $10.14 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 2.84 and a beta of 1.17.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th will be given a dividend of $0.375 per share. The ex-dividend date is Friday, May 24th. This represents a $1.50 dividend on an annualized basis and a yield of 0.86%. Paycom Software’s payout ratio is 18.27%.

Hedge Funds Weigh In On Paycom Software

A number of hedge funds and other institutional investors have recently modified their holdings of PAYC. Commonwealth Equity Services LLC raised its stake in shares of Paycom Software by 17.2% during the third quarter. Commonwealth Equity Services LLC now owns 27,629 shares of the software maker’s stock worth $7,164,000 after acquiring an additional 4,046 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Paycom Software by 31.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 24,319 shares of the software maker’s stock valued at $6,305,000 after buying an additional 5,888 shares during the period. Raymond James & Associates grew its stake in shares of Paycom Software by 18.4% during the third quarter. Raymond James & Associates now owns 12,450 shares of the software maker’s stock valued at $3,228,000 after buying an additional 1,935 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Paycom Software by 19.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 27,862 shares of the software maker’s stock worth $7,224,000 after buying an additional 4,495 shares during the period. Finally, Stratos Wealth Partners LTD. lifted its stake in shares of Paycom Software by 41.0% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 2,303 shares of the software maker’s stock valued at $597,000 after acquiring an additional 670 shares during the last quarter. 87.77% of the stock is currently 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.