Wall Street brokers expect Paycom Software, Inc. (NYSE: PAYC – Get a rating) to report sales of $309.17 million for the current fiscal quarter, Zacks Investment Research reports. Eight analysts made estimates of Paycom Software’s earnings, with the lowest sales estimate at $308.88 million and the highest estimate at $310.00 million. Paycom Software recorded 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 company is expected to release its next results on Monday, January 1.
According to Zacks, analysts expect Paycom Software to report annual sales of $1.33 billion for the current fiscal year, with estimates ranging from $1.33 billion to $1.34 billion. For next year, analysts expect the company to post sales of $1.65 billion, with estimates ranging from $1.63 billion to $1.66 billion. Zacks Investment Research sales calculations are an average based on a survey of research analysts who provide coverage for Paycom Software.
Paycom software (NYSE: PAYC – Get a rating) last released its quarterly earnings data on Tuesday, May 3. The software maker reported earnings per share of $1.90 for the quarter, beating analyst 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 company posted revenue of $353.52 million for the quarter, versus analyst estimates of $343.20 million. In the same quarter of the previous year, the company had earned earnings per share of $1.10. The company’s revenue increased 29.9% year over year.
A number of brokerages have recently released reports on PAYC. Deutsche Bank Aktiengesellschaft lowered its price target on Paycom Software from $450.00 to $425.00 in a Wednesday, May 4 research report. Credit Suisse Group reduced its price target on Paycom Software from $425.00 to $350.00 in a research report on Wednesday, May 4. TheStreet downgraded Paycom Software from a “b-” to a “c+” rating in a Monday, May 2 research report. Needham & Company LLC lowered its price target on Paycom Software from $640.00 to $450.00 and set a “buy” rating on the stock in a Wednesday, February 9 report. Finally, Oppenheimer lowered its price target on Paycom Software from $415.00 to $350.00 in a Wednesday, May 4 report. One research analyst has assigned the stock a sell rating, five have assigned a hold rating and nine have assigned the stock a buy rating. According to MarketBeat.com, Paycom Software currently has a consensus rating of “Buy” and a consensus target price of $384.50.
PAYC shares opened at $312.00 on Thursday. The company has a debt ratio of 0.03, a current ratio of 1.08 and a quick ratio of 1.08. The company 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 minimum of $259.95 and a 1 year maximum of $558.97. The stock has a market cap of $18.80 billion, a price-to-earnings ratio of 81.25, a growth price-to-earnings ratio of 2.81 and a beta of 1.54.
Paycom Software announced that its board of directors approved a stock repurchase plan on Tuesday, June 7 that sees the company repurchase $550.00 million in stock. This repurchase authorization allows the software publisher to repurchase up to 3% of its shares through purchases on the open market. Stock buyback plans are often a sign that a company’s management believes its stock is undervalued.
In other Paycom Software news, an insider Holly Faurot sold 194 shares in a trade that took place on Monday, May 9. 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, valued at approximately $12,664,857.60. The sale was disclosed in a legal filing with the SEC, available at this link. Also, VPE Justin Devon Long sold 151 shares of the company in a trade on Wednesday, May 11. 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, valued at $813,579.88. Disclosure of this sale can be found here. Insiders sold a total of 19,721 shares of the company valued at $5,441,538 during the last quarter. 15.20% of the shares are currently held by insiders of the company.
Hedge funds have recently changed their holdings in the company. LPL Financial LLC increased its stake in Paycom Software by 34.3% in the third quarter. LPL Financial LLC now owns 18,792 shares of the software maker valued at $9,316,000 after buying an additional 4,802 shares last quarter. Yousif Capital Management LLC bought a new position in Paycom Software stock in Q4, valued at approximately $2,886,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Paycom Software shares by 17.8% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 24,001 shares of the software maker valued at $9,719,000 after acquiring 3,622 additional shares in the last quarter. Pembroke Management LTD increased its stake in Paycom Software shares by 13.0% in the 4th quarter. Pembroke Management LTD now owns 31,392 shares of the software maker valued at $13,034,000 after acquiring 3,616 additional shares in the last quarter. Finally, Fox Run Management LLC increased its stake in Paycom Software by 191.1% in the 4th quarter. Fox Run Management LLC now owns 1,269 shares of the software maker worth $527,000 after buying 833 additional shares in the last quarter. Institutional investors and hedge funds hold 87.12% of the company’s shares.
Paycom Software Company Profile (Get a rating)
Paycom Software, Inc provides a cloud-based Human Capital Management (HCM) solution delivered as software as a service for small and medium businesses in the United States. It offers the features and data analytics companies need to manage the employment lifecycle from recruitment to retirement.
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