Paycom Software Inc (NYSE:PAYC) – Investment analysts at KeyCorp increased their FY2018 earnings per share (EPS) estimates for Paycom Software in a note issued to investors on Monday. KeyCorp analyst B. Bracelin now expects that the software maker will post earnings per share of $1.92 for the year, up from their prior estimate of $1.91. KeyCorp currently has a “Overweight” rating and a $127.00 target price on the stock.
Several other equities research analysts have also recently issued reports on PAYC. Zacks Investment Research cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Northland Securities set a $101.00 price objective on shares of Paycom Software and gave the stock a “buy” rating in a research report on Thursday, January 11th. Mizuho decreased their price objective on shares of Paycom Software from $85.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, February 7th. Robert W. Baird lifted their price objective on shares of Paycom Software from $82.00 to $92.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. They noted that the move was a valuation call. Finally, Stifel Nicolaus lifted their price objective on shares of Paycom Software from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. 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. Paycom Software has an average rating of “Buy” and a consensus price target of $91.35.
Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.05. The company had revenue of $114.00 million during 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 46.27%. The firm’s revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 EPS.
Paycom Software declared that its board has approved a share repurchase plan on Tuesday, February 13th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the software maker to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
In other Paycom Software news, insider Jeffrey D. York sold 50,000 shares of Paycom Software stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $79.97, for a total value of $3,998,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Craig E. Boelte sold 11,000 shares of Paycom Software stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $98.45, for a total transaction of $1,082,950.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,750 shares of company stock valued at $9,388,528. 17.90% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Aperio Group LLC acquired a new position in Paycom Software in the fourth quarter valued at $201,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Paycom Software by 49.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,743 shares of the software maker’s stock valued at $220,000 after purchasing an additional 908 shares during the period. Ramsey Quantitative Systems acquired a new position in Paycom Software in the fourth quarter valued at $237,000. Cetera Advisors LLC acquired a new position in Paycom Software in the fourth quarter valued at $241,000. Finally, Polen Capital Management LLC acquired a new position in Paycom Software in the fourth quarter valued at $276,000. Institutional investors own 87.73% of the company’s stock.
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Paycom Software Company Profile
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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