Paycom Software, Inc. (PAYC) Expected to Announce Quarterly Sales of $100.43 Million
Brokerages expect Paycom Software, Inc. (NYSE:PAYC) to post $100.43 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for Paycom Software’s earnings. The highest sales estimate is $102.00 million and the lowest is $99.71 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 29.9%. The business is scheduled to issue its next quarterly earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Paycom Software will report full-year sales of $100.43 million for the current financial year, with estimates ranging from $429.79 million to $436.50 million. For the next fiscal year, analysts expect that the business will post sales of $540.94 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 research analysts that cover Paycom Software.
Paycom Software (NYSE:PAYC) last announced its quarterly 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. Paycom Software had a net margin of 14.28% and a return on equity of 35.77%. The company had revenue of $98.20 million for the quarter, compared to analysts’ expectations of $95.98 million. During the same quarter in the previous year, the business posted $0.21 earnings per share. Paycom Software’s quarterly revenue was up 32.9% on a year-over-year basis.
A number of equities research analysts have recently issued reports on PAYC shares. Zacks Investment Research lowered Paycom Software from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. BidaskClub raised Paycom Software from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $74.00 price target (up previously from $67.00) on shares of Paycom Software in a report on Tuesday, August 8th. KeyCorp increased their target price on Paycom Software to $94.00 in a report on Wednesday, August 2nd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $83.00 target price (up previously from $73.00) on shares of Paycom Software in a report on Wednesday, August 2nd. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $75.36.
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In other Paycom Software news, insider Stacey M. Pezold sold 30,000 shares of the company’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $70.15, for a total transaction of $2,104,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey D. York sold 40,000 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $66.93, for a total transaction of $2,677,200.00. The disclosure for this sale can be found here. 17.90% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Paycom Software by 10.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,835 shares of the software maker’s stock worth $126,000 after buying an additional 167 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Paycom Software by 7.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,220 shares of the software maker’s stock worth $152,000 after buying an additional 150 shares during the last quarter. Strs Ohio raised its position in shares of Paycom Software by 342.9% in the first quarter. Strs Ohio now owns 3,100 shares of the software maker’s stock worth $178,000 after buying an additional 2,400 shares during the last quarter. Bfsg LLC bought a new position in shares of Paycom Software during the first quarter worth $203,000. Finally, Raymond James Trust N.A. bought a new position in shares of Paycom Software during the second quarter worth $203,000. Institutional investors own 86.05% of the company’s stock.
Paycom Software (NYSE PAYC) opened at 73.35 on Thursday. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 79.56 and a beta of 1.75. The firm’s 50-day moving average is $70.15 and its 200 day moving average is $63.20. Paycom Software has a 1-year low of $39.15 and a 1-year high of $74.82.
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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