Paycom Software, Inc. (NYSE:PAYC) Forecasted to Earn Q2 2022 Earnings of $0.77 Per Share

Paycom Software, Inc. (NYSE:PAYCGet Rating) – Equities research analysts at DA Davidson issued their Q2 2022 earnings per share estimates for shares of Paycom Software in a report issued on Thursday, May 5th. DA Davidson analyst R. Simmons expects that the software maker will earn $0.77 per share for the quarter. DA Davidson currently has a “Buy” rating and a $385.00 target price on the stock. DA Davidson also issued estimates for Paycom Software’s FY2023 earnings at $5.26 EPS.

Paycom Software (NYSE:PAYCGet Rating) last issued its earnings results on Tuesday, May 3rd. The software maker reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. The business had revenue of $353.52 million during the quarter, compared to the consensus estimate of $343.20 million. Paycom Software had a return on equity of 26.41% and a net margin of 19.64%. The company’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same period last year, the company earned $1.10 EPS.

Other equities analysts have also recently issued research reports about the company. Mizuho lifted their price objective on Paycom Software from $325.00 to $350.00 and gave the company a “neutral” rating in a research note on Wednesday, February 9th. StockNews.com assumed coverage on Paycom Software in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft cut their target price on Paycom Software from $450.00 to $425.00 in a research report on Wednesday. Piper Sandler cut their target price on Paycom Software from $505.00 to $430.00 in a research report on Wednesday. Finally, Zacks Investment Research lowered Paycom Software from a “hold” rating to a “sell” rating and set a $360.00 target price on the stock. in a research report on Friday, January 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Paycom Software currently has a consensus rating of “Buy” and a consensus price target of $396.29.

Shares of Paycom Software stock opened at $301.05 on Friday. The business has a 50-day moving average of $323.14 and a 200 day moving average of $379.96. Paycom Software has a 12 month low of $278.37 and a 12 month high of $558.97. The stock has a market capitalization of $18.13 billion, a price-to-earnings ratio of 78.40, a price-to-earnings-growth ratio of 2.83 and a beta of 1.54. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.13 and a quick ratio of 1.13.

Several large investors have recently modified their holdings of the company. Capital Research Global Investors lifted its position in Paycom Software by 189.6% during the third quarter. Capital Research Global Investors now owns 1,632,393 shares of the software maker’s stock worth $809,259,000 after buying an additional 1,068,686 shares during the period. Norges Bank acquired a new stake in shares of Paycom Software in the fourth quarter valued at about $156,072,000. Wellington Management Group LLP grew its stake in shares of Paycom Software by 25.9% in the third quarter. Wellington Management Group LLP now owns 1,478,690 shares of the software maker’s stock valued at $733,060,000 after buying an additional 304,054 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in shares of Paycom Software by 670.7% in the third quarter. Lord Abbett & CO. LLC now owns 315,885 shares of the software maker’s stock valued at $156,600,000 after buying an additional 274,898 shares in the last quarter. Finally, BlackRock Inc. grew its stake in Paycom Software by 3.8% during the 3rd quarter. BlackRock Inc. now owns 5,390,072 shares of the software maker’s stock valued at $2,672,128,000 after purchasing an additional 198,947 shares in the last quarter. Institutional investors and hedge funds own 87.12% of the company’s stock.

About Paycom Software (Get Rating)

Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.

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Earnings History and Estimates for Paycom Software (NYSE:PAYC)

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