Brokerages Expect Paycom Software, Inc. (PAYC) Will Announce Quarterly Sales of $100.35 Million
Analysts forecast that Paycom Software, Inc. (NYSE:PAYC) will post $100.35 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Paycom Software’s earnings. The lowest sales estimate is $99.71 million and the highest is $102.00 million. Paycom Software reported sales of $77.33 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 29.8%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, October 31st.
On average, analysts expect that Paycom Software will report full year sales of $100.35 million for the current financial year, with estimates ranging from $429.79 million to $436.50 million. For the next fiscal year, analysts forecast that the company will post sales of $540.81 million per share, with estimates ranging from $517.60 million to $560.80 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Paycom Software.
Paycom Software (NYSE:PAYC) last issued its earnings results on Tuesday, August 1st. The software maker reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.11. The company had revenue of $98.20 million during the quarter, compared to the consensus estimate of $95.98 million. Paycom Software had a net margin of 14.28% and a return on equity of 35.77%. Paycom Software’s quarterly revenue was up 32.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 EPS.
A number of equities analysts have commented on PAYC shares. Canaccord Genuity lifted their target price on shares of Paycom Software from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, June 27th. BidaskClub downgraded shares of Paycom Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 29th. Credit Suisse Group reaffirmed a “buy” rating on shares of Paycom Software in a research note on Monday, July 3rd. Mizuho downgraded shares of Paycom Software from a “buy” rating to a “neutral” rating and set a $70.00 target price on the stock. in a research note on Monday, July 10th. Finally, Barclays PLC reaffirmed a “buy” rating and set a $74.00 target price on shares of Paycom Software in a research note on Wednesday, July 19th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Paycom Software has a consensus rating of “Buy” and an average price target of $76.63.
Shares of Paycom Software (PAYC) traded up 0.13% on Friday, reaching $79.35. 112,163 shares of the company traded hands. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 86.06 and a beta of 1.72. Paycom Software has a 1-year low of $39.15 and a 1-year high of $79.98. The company has a 50-day moving average of $75.01 and a 200-day moving average of $68.14.
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In related news, insider Stacey M. Pezold sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $75.02, for a total transaction of $750,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Craig E. Boelte sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $74.72, for a total transaction of $821,920.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,000 shares of company stock worth $4,564,520. 17.90% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in PAYC. UBS Asset Management Americas Inc. increased its stake in Paycom Software by 47.6% during the 1st quarter. UBS Asset Management Americas Inc. now owns 24,424 shares of the software maker’s stock worth $1,405,000 after buying an additional 7,881 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in Paycom Software during the 1st quarter worth approximately $219,000. Prudential Financial Inc. increased its stake in Paycom Software by 397.7% during the 1st quarter. Prudential Financial Inc. now owns 77,350 shares of the software maker’s stock worth $4,448,000 after buying an additional 61,810 shares during the period. Blair William & Co. IL purchased a new stake in Paycom Software during the 1st quarter worth approximately $243,000. Finally, American International Group Inc. increased its stake in Paycom Software by 5.4% during the 1st quarter. American International Group Inc. now owns 26,676 shares of the software maker’s stock worth $1,534,000 after buying an additional 1,366 shares during the period. 86.05% of the stock is currently owned by hedge funds and other institutional investors.
About Paycom Software
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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