Paycom Software (PAYC) Posts Quarterly Earnings, Beats Expectations By $0.01 EPS
Paycom Software (NYSE:PAYC) announced its earnings results on Tuesday. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.03 by $0.01, AnalystRatings.Net reports. The company had revenue of $33.30 million for the quarter, compared to the consensus estimate of $31.48 million. The company’s quarterly revenue was up 39.3% on a year-over-year basis.
A number of research firms have recently commented on PAYC. Analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Paycom Software in a research note on Friday, May 16th. They now have a $18.00 price target on the stock, down previously from $20.00. On the ratings front, analysts at Janney Montgomery Scott cut their price target on shares of Paycom Software from $1,225.00 to $1,200.00 in a research note on Monday, May 12th. Finally, analysts at Barclays initiated coverage on shares of Paycom Software in a research note on Monday, May 12th. They set an “overweight” rating and a $21.00 price target on the stock. They noted that the move was a valuation call. Five investment analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average price target of $215.83.
Paycom Software (NYSE:PAYC) traded down 1.58% during mid-day trading on Tuesday, hitting $12.49. 57,736 shares of the company’s stock traded hands. Paycom Software has a 1-year low of $12.28 and a 1-year high of $17.92. The stock has a 50-day moving average of $13.55 and a 200-day moving average of $14.16. The company has a market cap of $637.5 million and a P/E ratio of 154.76.
Paycom Software, Inc is a provider of a cloud-based human capital management (NYSE:PAYC) software solution delivered as Software-as-a-Service (SaaS).
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