Wall Street brokerages expect Paycom Software Inc (NYSE:PAYC) to report sales of $171.52 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Paycom Software’s earnings, with the highest sales estimate coming in at $172.09 million and the lowest estimate coming in at $171.00 million. Paycom Software reported sales of $133.29 million during the same quarter last year, which indicates a positive year over year growth rate of 28.7%. The firm is scheduled to report its next quarterly earnings report after the market closes on Tuesday, October 29th.
According to Zacks, analysts expect that Paycom Software will report full-year sales of $729.46 million for the current fiscal year, with estimates ranging from $729.00 million to $730.45 million. For the next financial year, analysts forecast that the business will post sales of $894.09 million, with estimates ranging from $874.15 million to $907.10 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Paycom Software.
Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.14. Paycom Software had a net margin of 23.93% and a return on equity of 38.25%. The company had revenue of $169.30 million during the quarter, compared to the consensus estimate of $163.88 million. During the same period in the prior year, the firm earned $0.59 earnings per share. Paycom Software’s revenue was up 31.4% on a year-over-year basis.
A number of equities research analysts have weighed in on the stock. Credit Suisse Group upped their price objective on shares of Paycom Software from $190.00 to $235.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. They noted that the move was a valuation call. Bank of America reiterated a “neutral” rating and set a $250.00 price target (up previously from $215.00) on shares of Paycom Software in a report on Wednesday, July 31st. Mizuho started coverage on shares of Paycom Software in a report on Wednesday, August 21st. They set a “neutral” rating and a $240.00 price target on the stock. KeyCorp reiterated an “overweight” rating on shares of Paycom Software in a report on Wednesday, September 25th. Finally, Needham & Company LLC increased their price target on shares of Paycom Software from $230.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $226.79.
PAYC traded down $15.43 during midday trading on Thursday, reaching $190.60. The company’s stock had a trading volume of 795,946 shares, compared to its average volume of 652,727. The firm has a market capitalization of $12.12 billion, a price-to-earnings ratio of 87.43, a PEG ratio of 2.68 and a beta of 1.38. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. Paycom Software has a 1 year low of $107.46 and a 1 year high of $259.71. The stock’s 50-day moving average is $217.00 and its 200-day moving average is $219.62.
In other Paycom Software news, insider Jeffrey D. York sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $232.84, for a total value of $5,821,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 16.09% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in PAYC. Cookson Peirce & Co. Inc. grew its stake in Paycom Software by 109.9% during the second quarter. Cookson Peirce & Co. Inc. now owns 150,423 shares of the software maker’s stock valued at $34,104,000 after acquiring an additional 78,769 shares in the last quarter. Northern Trust Corp grew its stake in Paycom Software by 27.2% during the second quarter. Northern Trust Corp now owns 310,648 shares of the software maker’s stock valued at $70,430,000 after acquiring an additional 66,489 shares in the last quarter. Teza Capital Management LLC purchased a new position in Paycom Software during the second quarter valued at $210,000. Aperio Group LLC grew its stake in Paycom Software by 25.9% during the second quarter. Aperio Group LLC now owns 6,476 shares of the software maker’s stock valued at $1,468,000 after acquiring an additional 1,332 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Paycom Software by 34.5% during the second quarter. Wells Fargo & Company MN now owns 297,793 shares of the software maker’s stock valued at $67,516,000 after acquiring an additional 76,313 shares in the last quarter. Hedge funds and other institutional investors own 72.77% of the company’s stock.
About Paycom Software
Paycom Software, Inc provides cloud-based human capital management (HCM) software service for small to mid-sized companies in the United States. It provides functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement. The company's HCM solution offers a suite of applications in the areas of talent acquisition, including applicant tracking, candidate tracker, background checks, on-boarding, e-verify, and tax credit services; and time and labor management, such as time and attendance, scheduling/schedule exchange, time-off requests, labor allocation, labor management reports/push reporting, and geofencing/geotracking.
Recommended Story: Day Trading
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Paycom Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paycom Software and related companies with MarketBeat.com's FREE daily email newsletter.