$96.14 Million in Sales Expected for Paycom Software, Inc. (PAYC) This Quarter
Wall Street analysts predict that Paycom Software, Inc. (NYSE:PAYC) will report $96.14 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Paycom Software’s earnings, with the highest sales estimate coming in at $96.49 million and the lowest estimate coming in at $95.99 million. Paycom Software posted sales of $73.88 million during the same quarter last year, which would indicate a positive year over year growth rate of 30.1%. The business is expected to announce its next quarterly earnings results after the market closes on Tuesday, August 1st.
On average, analysts expect that Paycom Software will report full-year sales of $96.14 million for the current fiscal year, with estimates ranging from $427.20 million to $437.00 million. For the next fiscal year, analysts expect that the firm will report sales of $538.27 million per share, with estimates ranging from $514.90 million to $556.90 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that follow Paycom Software.
Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Tuesday, May 2nd. The software maker reported $0.44 EPS for the quarter, topping the consensus estimate of $0.37 by $0.07. Paycom Software had a net margin of 14.19% and a return on equity of 33.01%. The firm had revenue of $119.51 million for the quarter, compared to analysts’ expectations of $115.70 million.
A number of research analysts have recently issued reports on the stock. Canaccord Genuity lifted their price objective on shares of Paycom Software from $70.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, June 27th. BidaskClub cut shares of Paycom Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 29th. Barclays PLC reiterated a “buy” rating and set a $74.00 price objective on shares of Paycom Software in a report on Wednesday. Jefferies Group LLC reiterated a “buy” rating and set a $73.00 price objective on shares of Paycom Software in a report on Thursday, June 8th. Finally, Mizuho cut shares of Paycom Software from a “buy” rating to a “neutral” rating and set a $70.00 price objective for the company. in a report on Monday, July 10th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Paycom Software currently has an average rating of “Buy” and an average target price of $65.54.
In other Paycom Software news, insider Stacey M. Pezold sold 30,000 shares of Paycom Software stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $70.15, for a total value of $2,104,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jeffrey D. York sold 40,000 shares of Paycom Software stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $66.93, for a total transaction of $2,677,200.00. The disclosure for this sale can be found here. 17.90% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System raised its stake in shares of Paycom Software by 0.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 20,715 shares of the software maker’s stock valued at $1,191,000 after buying an additional 140 shares in the last quarter. 1st Global Advisors Inc. raised its stake in shares of Paycom Software by 3.4% in the first quarter. 1st Global Advisors Inc. now owns 5,492 shares of the software maker’s stock valued at $316,000 after buying an additional 182 shares in the last quarter. Neuberger Berman Group LLC raised its stake in shares of Paycom Software by 6.6% in the first quarter. Neuberger Berman Group LLC now owns 5,788 shares of the software maker’s stock valued at $333,000 after buying an additional 357 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Paycom Software by 4.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 9,403 shares of the software maker’s stock valued at $541,000 after buying an additional 376 shares in the last quarter. Finally, Sapphire Star Partners LP raised its stake in shares of Paycom Software by 3.6% in the first quarter. Sapphire Star Partners LP now owns 11,338 shares of the software maker’s stock valued at $652,000 after buying an additional 392 shares in the last quarter. 90.50% of the stock is currently owned by institutional investors and hedge funds.
Shares of Paycom Software (NYSE:PAYC) opened at 69.64 on Friday. The company has a market capitalization of $4.03 billion, a PE ratio of 81.26 and a beta of 1.77. The firm’s 50-day moving average is $68.69 and its 200 day moving average is $59.09. Paycom Software has a 12 month low of $39.15 and a 12 month high of $73.61.
Paycom Software Company Profile
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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