Paycom Software, Inc. (PAYC) Announces Quarterly Earnings Results, Beats Estimates By $0.10 EPS
Paycom Software, Inc. (NYSE:PAYC) posted its quarterly earnings results on Monday. The software maker reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.10, Bloomberg Earnings reports. Paycom Software had a net margin of 14.28% and a return on equity of 35.77%. The firm had revenue of $101.30 million for the quarter, compared to analyst estimates of $100.47 million. During the same quarter last year, the firm posted $0.15 earnings per share. Paycom Software’s revenue for the quarter was up 31.0% compared to the same quarter last year.
Paycom Software (PAYC) traded up 2.58% during mid-day trading on Tuesday, hitting $82.20. 1,003,190 shares of the stock were exchanged. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 89.15 and a beta of 1.73. Paycom Software has a 52 week low of $39.15 and a 52 week high of $82.59. The company has a 50 day moving average price of $77.29 and a 200 day moving average price of $70.33.
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In other news, insider Stacey M. Pezold sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $75.02, for a total transaction of $750,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey D. York sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $74.81, for a total value of $2,992,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,000 shares of company stock valued at $4,564,520. Corporate insiders own 17.90% of the company’s stock.
Several research analysts recently commented on PAYC shares. Credit Suisse Group restated a “buy” rating on shares of Paycom Software in a report on Monday, July 3rd. Barclays PLC raised their price target on shares of Paycom Software from $74.00 to $82.00 and gave the company an “overweight” rating in a report on Wednesday, September 13th. Robert W. Baird restated a “buy” rating and issued a $78.00 price target on shares of Paycom Software in a report on Tuesday, September 12th. Northland Securities started coverage on shares of Paycom Software in a report on Thursday, September 21st. They issued an “outperform” rating and a $85.00 price target on the stock. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $74.00 price target on shares of Paycom Software in a report on Wednesday, October 18th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Paycom Software currently has an average rating of “Buy” and an average target price of $78.00.
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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