Wall Street brokerages expect Paycom Software Inc (NYSE:PAYC) to announce sales of $151.21 million for the current quarter, according to Zacks. Eight analysts have made estimates for Paycom Software’s earnings. The highest sales estimate is $152.10 million and the lowest is $150.52 million. Paycom Software posted sales of $119.51 million during the same quarter last year, which indicates a positive year-over-year growth rate of 26.5%. The firm is expected to issue its next earnings report on Tuesday, May 1st.
According to Zacks, analysts expect that Paycom Software will report full year sales of $151.21 million for the current financial year, with estimates ranging from $541.52 million to $552.00 million. For the next year, analysts expect that the business will report sales of $673.21 million per share, with estimates ranging from $661.66 million to $694.50 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Paycom Software.
Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.29 earnings per share (EPS) for the quarter, topping 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 46.27%. The firm had revenue of $114.00 million for the quarter, compared to analyst estimates of $113.01 million. During the same period in the prior year, the firm posted $0.18 earnings per share. The company’s quarterly revenue was up 29.8% compared to the same quarter last year.
Several research firms have issued reports on PAYC. Stifel Nicolaus upped their price target on shares of Paycom Software from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Mizuho dropped their price target on shares of Paycom Software from $85.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 7th. Robert W. Baird upped their price target on shares of Paycom Software from $82.00 to $92.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. They noted that the move was a valuation call. Credit Suisse Group upped their price target on shares of Paycom Software from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Finally, Barclays upped their price target on shares of Paycom Software from $96.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Paycom Software presently has a consensus rating of “Buy” and a consensus price target of $88.56.
In other Paycom Software news, insider Jeffrey D. York sold 50,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $79.97, for a total value of $3,998,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Craig E. Boelte sold 11,000 shares of the company’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $78.92, for a total transaction of $868,120.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,750 shares of company stock worth $6,533,308. Corporate insiders own 17.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC acquired a new position in shares of Paycom Software in the fourth quarter valued at about $1,743,000. Macquarie Group Ltd. grew its stake in shares of Paycom Software by 5.3% in the fourth quarter. Macquarie Group Ltd. now owns 542,013 shares of the software maker’s stock valued at $43,540,000 after acquiring an additional 27,154 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Paycom Software in the fourth quarter valued at about $695,000. Sciencast Management LP acquired a new position in shares of Paycom Software in the fourth quarter valued at about $396,000. Finally, Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Paycom Software in the fourth quarter valued at about $666,000. Institutional investors and hedge funds own 89.38% of the company’s stock.
Paycom Software (NYSE:PAYC) traded up $0.86 during midday trading on Thursday, reaching $95.76. 722,615 shares of the company’s stock traded hands, compared to its average volume of 885,070. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.01 and a quick ratio of 1.01. Paycom Software has a 1 year low of $52.07 and a 1 year high of $97.11. The company has a market capitalization of $5,530.00, a price-to-earnings ratio of 84.74, a P/E/G ratio of 1.99 and a beta of 1.70.
Paycom Software declared that its board has approved a stock buyback plan on Tuesday, February 13th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the software maker to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
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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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