Paycom Software, Inc. (NYSE:PAYC – Get Rating) – Stock analysts at Jefferies Financial Group boosted their FY2022 EPS estimates for shares of Paycom Software in a research report issued on Tuesday, November 1st. Jefferies Financial Group analyst S. Samana now expects that the software maker will post earnings of $4.66 per share for the year, up from their previous estimate of $4.48. Jefferies Financial Group currently has a “Buy” rating and a $335.00 price objective on the stock. The consensus estimate for Paycom Software’s current full-year earnings is $4.49 per share. Jefferies Financial Group also issued estimates for Paycom Software’s Q2 2023 earnings at $1.21 EPS and FY2023 earnings at $6.06 EPS.
Paycom Software (NYSE:PAYC – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The software maker reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Paycom Software had a return on equity of 24.94% and a net margin of 19.40%. The business had revenue of $316.92 million during the quarter, compared to the consensus estimate of $309.17 million.
PAYC has been the topic of a number of other reports. StockNews.com started coverage on shares of Paycom Software in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Piper Sandler increased their target price on shares of Paycom Software from $387.00 to $395.00 and gave the stock an “overweight” rating in a report on Wednesday. Citigroup boosted their price target on shares of Paycom Software from $393.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday. Stifel Nicolaus upped their price objective on shares of Paycom Software from $375.00 to $400.00 in a research report on Wednesday, August 3rd. Finally, Oppenheimer lifted their target price on Paycom Software from $375.00 to $415.00 in a report on Thursday, August 11th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $390.13.
Paycom Software Price Performance
Shares of PAYC opened at $306.20 on Friday. The stock has a market cap of $18.38 billion, a P/E ratio of 71.04, a price-to-earnings-growth ratio of 3.06 and a beta of 1.39. Paycom Software has a 1 year low of $255.82 and a 1 year high of $522.84. The stock’s 50-day moving average price is $337.89 and its two-hundred day moving average price is $320.14. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.03.
Paycom Software declared that its Board of Directors has authorized a share buyback program on Monday, August 15th that permits the company to buyback $1.10 billion in outstanding shares. This buyback authorization permits the software maker to repurchase up to 4.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
Insider Buying and Selling
In other Paycom Software news, Director Frederick C. Peters II sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $371.17, for a total value of $371.170.00. Following the sale, the director now owns 15,778 shares in the company, valued at approximately $5,856,320.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 15.20% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Paycom Software
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PAYC. Toth Financial Advisory Corp increased its position in shares of Paycom Software by 250.0% in the second quarter. Toth Financial Advisory Corp now owns 91 shares of the software maker’s stock valued at $25,000 after acquiring an additional 65 shares during the last quarter. Zions Bancorporation NA increased its position in shares of Paycom Software by 405.3% during the 2nd quarter. Zions Bancorporation NA now owns 96 shares of the software maker’s stock worth $27,000 after purchasing an additional 77 shares during the last quarter. Clear Street Markets LLC raised its stake in shares of Paycom Software by 421.1% during the 2nd quarter. Clear Street Markets LLC now owns 99 shares of the software maker’s stock worth $28,000 after purchasing an additional 80 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Paycom Software by 157.1% in the 1st quarter. Allworth Financial LP now owns 108 shares of the software maker’s stock valued at $37,000 after buying an additional 66 shares during the last quarter. Finally, Ellevest Inc. grew its stake in shares of Paycom Software by 89.8% in the third quarter. Ellevest Inc. now owns 112 shares of the software maker’s stock valued at $37,000 after buying an additional 53 shares in the last quarter. 74.43% of the stock is currently owned by institutional investors and hedge funds.
Paycom Software Company Profile
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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