Wall Street brokerages expect Paycom Software, Inc. (NYSE: PAYC – Get Rating) to report sales of $ 309.17 million for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Paycom Software’s earnings, with the lowest sales estimate coming in at $ 308.88 million and the highest estimate coming in at $ 310.00 million. Paycom Software posted sales of $ 242.15 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 27.7%. The firm is expected to issue its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Paycom Software will report full-year sales of $ 1.33 billion for the current fiscal year, with estimates ranging from $ 1.33 billion to $ 1.34 billion. For the next year, analysts forecast that the business will post sales of $ 1.65 billion, with estimates ranging from $ 1.63 billion to $ 1.66 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Paycom Software.
Paycom Software (NYSE: PAYC – Get Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The software maker reported $ 1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $ 1.75 by $ 0.15. Paycom Software had a return on equity of 25.12% and a net margin of 19.64%. The business had revenue of $ 353.52 million for the quarter, compared to analyst estimates of $ 343.20 million. During the same quarter in the prior year, the company earned $ 1.10 earnings per share. The company revenue was up 29.9% on a year-over-year basis.
A number of brokerages have recently issued reports on PAYC. Deutsche Bank Aktiengesellschaft dropped their target price on Paycom Software from $ 450.00 to $ 425.00 in a research report on Wednesday, May 4th. Credit Suisse Group reduced their price objective on Paycom Software from $ 425.00 to $ 350.00 in a research report on Wednesday, May 4th. TheStreet downgraded Paycom Software from a “b-” rating to a “c +” rating in a research report on Monday, May 2nd. Needham & Company LLC dropped their price target on Paycom Software from $ 640.00 to $ 450.00 and set a “buy” rating on the stock in a report on Wednesday, February 9th. Finally, Oppenheimer dropped their price target on Paycom Software from $ 415.00 to $ 350.00 in a report on Wednesday, May 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Paycom Software currently has a consensus rating of “Buy” and a consensus target price of $ 384.50.
Shares of PAYC opened at $ 312.00 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a 50 day simple moving average of $ 300.67 and a 200-day simple moving average of $ 342.07. Paycom Software has a 1-year low of $ 259.95 and a 1-year high of $ 558.97. The stock has a market cap of $ 18.80 billion, a price-to-earnings ratio of 81.25, a price-to-earnings-growth ratio of 2.81 and a beta of 1.54.
Paycom Software announced that its board has approved a share buyback plan on Tuesday, June 7th that permits the company to buyback $ 550.00 million in shares. This buyback authorization permits the software maker to repurchase up to 3% of its stock through open market purchases. Stock buyback plans are often a sign that the company leadership believes its stock is undervalued.
In other Paycom Software news, insider Holly Faurot sold 194 shares of the stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $ 280.32, for a total transaction of $ 54,382.08. Following the completion of the sale, the insider now directly owns 45,180 shares of the company stock, valued at approximately $ 12,664,857.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Justin Devon Long sold 151 shares of the firm’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $ 275.23, for a total transaction of $ 41,559.73. Following the completion of the transaction, the executive vice president now directly owns 2,956 shares of the company stock, valued at $ 813,579.88. The disclosure for this sale can be found here. Insiders have sold a total of 19,721 shares of company stock valued at $ 5,441,538 over the last quarter. 15.20% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. LPL Financial LLC grew its holdings in Paycom Software by 34.3% in the 3rd quarter. LPL Financial LLC now owns 18,792 shares of the software maker’s stock valued at $ 9,316,000 after buying an additional 4,802 shares in the last quarter. Yousif Capital Management LLC purchased a new position in shares of Paycom Software in the 4th quarter valued at about $ 2,886,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Paycom Software by 17.8% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 24,001 shares of the software maker’s stock valued at $ 9,719,000 after acquiring an additional 3,622 shares during the last quarter. Pembroke Management LTD increased its holdings in shares of Paycom Software by 13.0% in the 4th quarter. Pembroke Management LTD now owns 31,392 shares of the software maker’s stock valued at $ 13,034,000 after acquiring an additional 3,616 shares during the last quarter. Finally, Fox Run Management LLC grew its stake in Paycom Software by 191.1% during the 4th quarter. Fox Run Management LLC now owns 1,269 shares of the software maker’s stock worth $ 527,000 after buying an additional 833 shares during the last quarter. Institutional investors and hedge funds own 87.12% of the company stock.
Paycom Software Company Profile: (Get Rating)
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.
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