Wall Street brokerages forecast that Paycom Software, Inc. (NYSE:PAYC) will post earnings of $1.08 per share for the current quarter, Zacks reports. Eight analysts have made estimates for Paycom Software’s earnings. The lowest EPS estimate is $1.05 and the highest is $1.11. Paycom Software reported earnings of $0.84 per share in the same quarter last year, which indicates a positive year over year growth rate of 28.6%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, February 9th.
According to Zacks, analysts expect that Paycom Software will report full-year earnings of $4.44 per share for the current financial year, with EPS estimates ranging from $4.41 to $4.47. For the next year, analysts forecast that the firm will report earnings of $5.52 per share, with EPS estimates ranging from $5.45 to $5.67. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Paycom Software.
Paycom Software (NYSE:PAYC) last announced its earnings results on Tuesday, November 2nd. The software maker reported $0.92 EPS for the quarter, topping the consensus estimate of $0.60 by $0.32. The firm had revenue of $256.19 million for the quarter, compared to the consensus estimate of $250.26 million. Paycom Software had a net margin of 17.31% and a return on equity of 22.57%. During the same quarter last year, the firm posted $0.47 EPS.
Several equities analysts recently issued reports on PAYC shares. Piper Sandler cut their price target on shares of Paycom Software from $622.00 to $498.00 and set an “overweight” rating for the company in a report on Thursday. Needham & Company LLC boosted their price objective on shares of Paycom Software from $495.00 to $640.00 and gave the company a “buy” rating in a report on Wednesday, November 3rd. Barclays decreased their price objective on shares of Paycom Software from $565.00 to $392.00 in a report on Wednesday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Paycom Software in a report on Monday, November 1st. They issued a “buy” rating and a $655.00 price target for the company. Finally, KeyCorp upped their price target on shares of Paycom Software from $475.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, November 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $512.86.
Wall Street legend who helped create America’s stock-rating system says this stock could soon be rated a “Strong Buy” at every bank in New York City and Boston. “It’s all part of the biggest prediction of my 50-year career on Wall Street,” he says. “A massive and surprising new transition that could determine the next group of millionaires.”
Several institutional investors and hedge funds have recently modified their holdings of PAYC. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Paycom Software by 15.8% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 9,451 shares of the software maker’s stock worth $3,435,000 after acquiring an additional 1,289 shares during the period. Rockefeller Capital Management L.P. increased its position in Paycom Software by 99.2% during the second quarter. Rockefeller Capital Management L.P. now owns 1,568 shares of the software maker’s stock worth $569,000 after acquiring an additional 781 shares during the period. Atria Investments LLC increased its position in Paycom Software by 3.4% during the second quarter. Atria Investments LLC now owns 8,451 shares of the software maker’s stock worth $3,072,000 after acquiring an additional 278 shares during the period. Van ECK Associates Corp increased its position in Paycom Software by 3.3% during the second quarter. Van ECK Associates Corp now owns 4,522 shares of the software maker’s stock worth $1,644,000 after acquiring an additional 145 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in Paycom Software by 647.5% during the second quarter. BNP Paribas Arbitrage SA now owns 23,921 shares of the software maker’s stock worth $8,695,000 after acquiring an additional 20,721 shares during the period. 72.78% of the stock is currently owned by institutional investors.
Shares of Paycom Software stock traded down $8.56 during trading on Friday, hitting $333.99. 873,166 shares of the company’s stock traded hands, compared to its average volume of 799,248. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.07 and a quick ratio of 1.07. The firm’s fifty day moving average price is $425.58 and its 200 day moving average price is $451.06. Paycom Software has a twelve month low of $302.44 and a twelve month high of $558.97. The company has a market cap of $20.05 billion, a PE ratio of 113.22, a PEG ratio of 3.43 and a beta of 1.45.
About Paycom Software
Paycom Software, Inc provides comprehensive, cloud-based human capital management (HCM) software solutions delivered as Software-as-a-Service. It provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. Its solutions requires virtually no customization and is based on a core system of record maintained in a single database for all HCM functions, including talent acquisition, time and labor management, payroll, talent management and human resources management applications.
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