Paycom Software (NYSE:PAYC) announced that its board has approved a share buyback plan, which permits the company to repurchase $100.00 million in shares on Tuesday, February 13th, EventVestor reports. This repurchase authorization permits the software maker to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
Shares of Paycom Software (NYSE:PAYC) traded up $0.95 during trading hours on Thursday, reaching $93.03. 270,955 shares of the company traded hands, compared to its average volume of 810,984. Paycom Software has a twelve month low of $51.80 and a twelve month high of $94.10. The firm has a market cap of $5,370.00, a P/E ratio of 81.46, a P/E/G ratio of 2.21 and a beta of 1.70. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.05 and a quick ratio of 1.05.
Paycom Software (NYSE:PAYC) last issued its earnings results on Tuesday, February 6th. The software maker reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.05. Paycom Software had a net margin of 15.43% and a return on equity of 45.18%. The business had revenue of $114.00 million during the quarter, compared to the consensus estimate of $113.01 million. During the same period last year, the business posted $0.18 EPS. Paycom Software’s revenue was up 29.8% on a year-over-year basis. equities research analysts anticipate that Paycom Software will post 1.56 earnings per share for the current year.
A number of analysts recently commented on the stock. Mizuho lowered their price objective on shares of Paycom Software from $85.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, February 7th. Jefferies Group increased their target price on Paycom Software from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Northland Securities set a $85.00 target price on Paycom Software and gave the stock a “buy” rating in a report on Wednesday, November 1st. KeyCorp reiterated a “hold” rating on shares of Paycom Software in a report on Wednesday, November 1st. Finally, Bank of America increased their target price on Paycom Software from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $88.56.
In other Paycom Software news, CFO Craig E. Boelte sold 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $78.92, for a total transaction of $868,120.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey D. York sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $79.97, for a total transaction of $3,998,500.00. The disclosure for this sale can be found here. Insiders sold a total of 79,750 shares of company stock valued at $6,533,308 over the last quarter. 17.90% of the stock is currently owned by company insiders.
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About Paycom Software
Paycom Software, Inc is a provider of a cloud-based human capital management (HCM) software solution delivered as Software-as-a-Service (SaaS). The Company provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. The Company’s applications streamline client processes and provide clients and their employees with the ability to directly access and manage administrative processes, including applications that identify candidates, on-board employees, manage time and labor, administer payroll deductions and benefits, manage performance, terminate employees and administer post-termination health benefits, such as COBRA.
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