Paycom Software (NYSE:PAYC) declared that its Board of Directors has approved a stock buyback program, which allows the company to buyback $100.00 million in outstanding shares on Tuesday, February 13th, EventVestor reports. This buyback authorization allows the software maker to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Shares of Paycom Software (NYSE PAYC) traded up $0.95 during trading hours on Thursday, reaching $93.03. 270,955 shares of the company were exchanged, compared to its average volume of 810,984. The company has a market capitalization of $5,370.00, a PE ratio of 81.46, a price-to-earnings-growth ratio of 2.21 and a beta of 1.70. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.05 and a quick ratio of 1.05. Paycom Software has a fifty-two week low of $51.80 and a fifty-two week high of $94.10.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The business had revenue of $114.00 million for the quarter, compared to analysts’ expectations of $113.01 million. Paycom Software had a net margin of 15.43% and a return on equity of 45.18%. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period last year, the firm posted $0.18 earnings per share. sell-side analysts predict that Paycom Software will post 1.56 EPS for the current fiscal year.

PAYC has been the topic of several recent research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $85.00 target price on shares of Paycom Software in a report on Friday, November 3rd. Zacks Investment Research raised shares of Paycom Software from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a report on Friday, November 3rd. Oppenheimer reaffirmed a “buy” rating and set a $88.00 target price (up from $75.00) on shares of Paycom Software in a report on Wednesday, November 1st. Wells Fargo & Co set a $89.00 target price on shares of Paycom Software and gave the stock a “buy” rating in a report on Wednesday, November 1st. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $82.00 target price on shares of Paycom Software in a report on Wednesday, November 1st. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $88.56.

In other Paycom Software news, CFO Craig E. Boelte sold 11,000 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $78.92, for a total transaction of $868,120.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert J. Levenson sold 18,750 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $88.89, for a total transaction of $1,666,687.50. The disclosure for this sale can be found here. Insiders sold 79,750 shares of company stock worth $6,533,308 over the last three months. 17.90% of the stock is currently owned by insiders.

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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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