Paycom Software, Inc. (NYSE:PAYC) Expected to Post Quarterly Sales of $309.17 Million

Analysts predict that Paycom Software, Inc. (NYSE:PAYCGet Rating) will report $309.17 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Paycom Software’s earnings, with the highest sales estimate coming in at $310.00 million and the lowest estimate coming in at $308.88 million. Paycom Software posted sales of $242.15 million during the same quarter last year, which would indicate a positive year over year growth rate of 27.7%. The business is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Paycom Software will report full year sales of $1.33 billion for the current year, with estimates ranging from $1.33 billion to $1.34 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.65 billion, with estimates ranging from $1.63 billion to $1.66 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Paycom Software.

Paycom Software (NYSE:PAYCGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The software maker reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The company had revenue of $353.52 million during the quarter, compared to analyst estimates of $343.20 million. Paycom Software had a net margin of 19.64% and a return on equity of 25.12%. The firm’s revenue was up 29.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.10 EPS.

Several research analysts have commented on the stock. Jefferies Financial Group dropped their price objective on shares of Paycom Software from $400.00 to $335.00 in a research note on Monday, May 23rd. Oppenheimer reduced their target price on Paycom Software from $415.00 to $350.00 in a research note on Wednesday, May 4th. Mizuho increased 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. Barclays cut their price objective on shares of Paycom Software from $380.00 to $328.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 19th. Finally, began coverage on shares of Paycom Software in a report on Thursday, March 31st. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Paycom Software has a consensus rating of “Buy” and an average target price of $384.50.

Shares of NYSE:PAYC opened at $312.00 on Thursday. The firm’s 50 day moving average price is $300.67 and its 200-day moving average price is $342.07. Paycom Software has a twelve month low of $259.95 and a twelve month high of $558.97. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $18.80 billion, a PE ratio of 81.25, a price-to-earnings-growth ratio of 2.81 and a beta of 1.54.

Paycom Software declared that its Board of Directors has authorized a share buyback program on Tuesday, June 7th that authorizes the company to repurchase $550.00 million in shares. This repurchase authorization authorizes the software maker to repurchase up to 3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

In other Paycom Software news, CEO Chad R. Richison sold 9,611 shares of Paycom Software stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $275.24, for a total value of $2,645,331.64. Following the completion of the sale, the chief executive officer now owns 4,727,444 shares in the company, valued at approximately $1,301,181,686.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Justin Devon Long sold 151 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $275.23, for a total transaction of $41,559.73. Following the completion of the transaction, the executive vice president now owns 2,956 shares of the company’s stock, valued at $813,579.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,721 shares of company stock valued at $5,441,538. 15.20% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Quent Capital LLC bought a new position in Paycom Software during the fourth quarter worth about $27,000. Quadrant Capital Group LLC grew its holdings in shares of Paycom Software by 54.8% in the fourth quarter. Quadrant Capital Group LLC now owns 96 shares of the software maker’s stock worth $40,000 after purchasing an additional 34 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in Paycom Software in the fourth quarter valued at $42,000. Lenox Wealth Advisors LLC purchased a new position in Paycom Software during the fourth quarter valued at $43,000. Finally, Ahrens Investment Partners LLC purchased a new position in shares of Paycom Software in the 4th quarter worth about $44,000. Institutional investors own 87.12% of the company’s stock.

Paycom Software Company Profile (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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