Paycom Software Inc (NYSE:PAYC) – KeyCorp boosted their Q2 2018 earnings per share (EPS) estimates for Paycom Software in a research note issued on Monday. KeyCorp analyst B. Bracelin now anticipates that the software maker will earn $0.31 per share for the quarter, up from their prior forecast of $0.30. KeyCorp has a “Overweight” rating and a $127.00 price objective on the stock. KeyCorp also issued estimates for Paycom Software’s Q3 2018 earnings at $0.31 EPS, Q4 2018 earnings at $0.47 EPS and FY2019 earnings at $2.68 EPS.
PAYC has been the topic of a number of other reports. Zacks Investment Research raised Paycom Software from a “hold” rating to a “strong-buy” rating and set a $97.00 target price on the stock in a research report on Friday, February 9th. Northland Securities set a $101.00 target price on Paycom Software and gave the stock a “buy” rating in a research report on Thursday, January 11th. Barclays upped their target price on Paycom Software from $96.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Stifel Nicolaus upped their target price on Paycom Software from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Finally, Bank of America upped their target price on Paycom Software from $92.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $89.78.
Paycom Software (NYSE:PAYC) last issued its earnings results on Tuesday, February 6th. The software maker reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. Paycom Software had a return on equity of 46.27% and a net margin of 15.43%. The company had revenue of $114.00 million for the quarter, compared to analyst estimates of $113.01 million. During the same period in the prior year, the firm earned $0.18 earnings per share. Paycom Software’s revenue for the quarter was up 29.8% on a year-over-year basis.
A number of institutional investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. grew its holdings in Paycom Software by 9.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 7,142 shares of the software maker’s stock worth $574,000 after buying an additional 637 shares in the last quarter. Xact Kapitalforvaltning AB bought a new position in Paycom Software in the 4th quarter valued at $356,000. MetLife Investment Advisors LLC bought a new position in Paycom Software in the 4th quarter valued at $1,743,000. Macquarie Group Ltd. grew its stake in Paycom Software by 5.3% in the 4th quarter. Macquarie Group Ltd. now owns 542,013 shares of the software maker’s stock valued at $43,540,000 after purchasing an additional 27,154 shares during the period. Finally, Millennium Management LLC bought a new position in Paycom Software in the 4th quarter valued at $695,000. Institutional investors and hedge funds own 87.73% of the company’s stock.
In related news, insider Jeffrey D. York sold 50,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $79.97, for a total transaction of $3,998,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Craig E. Boelte sold 11,000 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $98.45, for a total value of $1,082,950.00. The disclosure for this sale can be found here. Insiders have sold 104,750 shares of company stock valued at $9,388,528 in the last quarter. 17.90% of the stock is currently owned by corporate insiders.
Paycom Software declared that its Board of Directors has initiated a share repurchase plan on Tuesday, February 13th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the software maker to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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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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