OKLAHOMA CITY - Paycom (NYSE:PAYC) Software, Inc. (NYSE:PAYC), a provider of cloud-based human capital management software, has declared a forthcoming cash dividend for its shareholders. The company's Board of Directors announced the dividend of $0.37 per share of common stock scheduled for payment on March 18, 2024.
Shareholders who are on record by the close of business on March 4, 2024, will be eligible to receive the dividend.
For over two decades, Paycom has been at the forefront of the human capital management industry, offering a suite of tools designed to simplify HR and payroll processes. Its software solutions are geared towards enhancing transparency and efficiency within businesses by allowing employees direct access to their data.
The company's innovative approach includes Beti®, a solution that enables employees to manage their own payroll, thereby helping to identify and correct errors before payroll submission. Paycom's comprehensive software suite includes a variety of functions from onboarding and benefits enrollment to talent management, all accessible through a single application.
InvestingPro Insights
Paycom Software, Inc. (NYSE:PAYC) continues to demonstrate financial robustness and a commitment to shareholder value, as evidenced by their recent dividend announcement. To provide additional context to this news, here are some key InvestingPro Insights that may interest investors:
The company boasts a strong market capitalization of $11.22 billion, showcasing its significant presence in the industry. With a P/E ratio of 32.82 and an adjusted P/E ratio for the last twelve months as of Q3 2023 at 33.08, Paycom presents a valuation that investors might find attractive when coupled with its growth prospects. Notably, the company has achieved a substantial revenue growth of 26.37% over the last twelve months leading up to Q3 2023, indicating a robust upward trajectory in its financial performance.
InvestingPro Tips highlight that Paycom holds more cash than debt on its balance sheet, suggesting a solid liquidity position. In addition, analysts anticipate sales growth in the current year, which could be a harbinger of continued financial health and potential for increased shareholder returns. It's also worth mentioning that Paycom has had an impressive gross profit margin of 87.06% in the same period, reflecting efficient operations and strong pricing power.
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