Wall Street brokerages forecast that Paycom Software Inc (NYSE:PAYC) will report sales of $130.48 million for the current quarter, according to Zacks. Seven analysts have provided estimates for Paycom Software’s earnings, with estimates ranging from $129.70 million to $131.30 million. Paycom Software reported sales of $101.29 million during the same quarter last year, which indicates a positive year-over-year growth rate of 28.8%. The firm is expected to report its next quarterly earnings results after the market closes on Tuesday, October 30th.
According to Zacks, analysts expect that Paycom Software will report full-year sales of $555.49 million for the current year, with estimates ranging from $555.00 million to $556.57 million. For the next financial year, analysts anticipate that the company will post sales of $685.93 million, with estimates ranging from $675.22 million to $696.98 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Paycom Software.
Paycom Software (NYSE:PAYC) last announced its earnings results on Tuesday, July 31st. The software maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.36 by $0.18. The company had revenue of $128.80 million for the quarter, compared to analysts’ expectations of $124.47 million. Paycom Software had a return on equity of 42.01% and a net margin of 20.85%.
Several brokerages have recently commented on PAYC. Stifel Nicolaus increased their target price on Paycom Software from $100.00 to $115.00 and gave the stock a “hold” rating in a report on Wednesday, August 1st. Royal Bank of Canada increased their target price on Paycom Software to $115.00 and gave the stock a “sector perform” rating in a report on Monday, July 30th. Zacks Investment Research upgraded Paycom Software from a “hold” rating to a “strong-buy” rating and set a $155.00 target price on the stock in a report on Friday, August 3rd. Barclays increased their target price on Paycom Software from $117.00 to $131.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 1st. Finally, Bank of America raised their price target on Paycom Software from $125.00 to $134.00 and gave the company a “buy” rating in a report on Wednesday, August 1st. Ten investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Paycom Software presently has an average rating of “Buy” and a consensus price target of $119.21.
In other Paycom Software news, insider Kathy Oden-Hall sold 2,000 shares of the firm’s stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $140.21, for a total transaction of $280,420.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Jon Evans sold 2,768 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $118.36, for a total value of $327,620.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,968 shares of company stock worth $12,183,436. 16.24% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in Paycom Software by 17.0% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 821,053 shares of the software maker’s stock worth $81,145,000 after buying an additional 119,541 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Paycom Software by 5.2% during the second quarter. Janus Henderson Group PLC now owns 597,864 shares of the software maker’s stock worth $59,087,000 after buying an additional 29,616 shares during the last quarter. Millennium Management LLC bought a new position in Paycom Software during the second quarter worth about $45,728,000. Riverbridge Partners LLC bought a new position in Paycom Software during the second quarter worth about $44,070,000. Finally, Advisors Asset Management Inc. boosted its holdings in Paycom Software by 3,056.3% during the second quarter. Advisors Asset Management Inc. now owns 388,543 shares of the software maker’s stock worth $1,359,000 after buying an additional 376,233 shares during the last quarter. Hedge funds and other institutional investors own 83.05% of the company’s stock.
Shares of PAYC stock traded up $0.45 during trading hours on Friday, hitting $136.51. 656,900 shares of the company’s stock were exchanged, compared to its average volume of 780,477. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $9.11 billion, a PE ratio of 154.45, a PEG ratio of 2.88 and a beta of 1.63. Paycom Software has a 52 week low of $74.35 and a 52 week high of $164.08.
About Paycom Software
Paycom Software, Inc provides cloud-based human capital management (HCM) software service for small to mid-sized companies in the United States. It provides functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement. The company's HCM solution offers a suite of applications in the areas of talent acquisition, including applicant tracking, candidate tracker, background checks, on-boarding, e-verify, and tax credit services; and time and labor management, such as time and attendance, scheduling/schedule exchange, time-off requests, labor allocation, labor management reports/push reporting, and geofencing/geotracking.
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