Paycom Software, Inc. (NYSE:PAYC – Get Rating) – Oppenheimer Research analysts lowered their first-quarter 2023 earnings estimates for Paycom Software shares in a report released Wednesday, November 2. Oppenheimer analyst B. Schwartz now expects the software maker to post earnings of $1.86 per share for the quarter, down from its previous estimate of $1.95. Paycom Software’s current annual earnings consensus estimate is $4.49 per share. Oppenheimer also released estimates for Paycom Software’s Q2 2023 earnings at $1.09 EPS.
Paycom Software (NYSE:PAYC – Get Rating) last released its results on Tuesday, August 2. The software maker reported earnings per share of $0.84 for the quarter, beating analysts’ consensus estimate of $0.81 by $0.03. The company posted revenue of $316.92 million for the quarter, versus a consensus estimate of $309.17 million. Paycom Software achieved a net margin of 19.40% and a return on equity of 24.94%.
A number of other analysts have also recently weighed in on PAYC. Jefferies Financial Group reaffirmed a “buy” rating and issued a target price of $335.00 on Paycom Software shares in a research report on Wednesday, August 3. Cowen raised his price target on Paycom Software shares from $365.00 to $381.00 in a research report on Wednesday. Stifel Nicolaus raised his price target on Paycom Software shares from $375.00 to $400.00 in a Wednesday, August 3 research note. Credit Suisse Group raised its price target on Paycom Software shares from $425.00 to $430.00 and gave the stock an “outperform” rating in a Wednesday research note. Finally, Cowen raised his price target on Paycom Software shares from $365.00 to $381.00 in a research note on Wednesday. Five equity research analysts gave the stock a hold rating and nine gave the company a buy rating. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $390.13.
Paycom software stock down 2.1%
NYSE: PAYC opened at $319.36 on Friday. The company’s 50-day moving average price is $338.98 and its 200-day moving average price is $320.15. The company has a market capitalization of $19.17 billion, a PE ratio of 75.71, a P/E/G ratio of 3.06 and a beta of 1.39. The company has a debt ratio of 0.03, a current ratio of 1.08 and a quick ratio of 1.08. Paycom Software has a 1 year minimum of $255.82 and a 1 year maximum of $522.84.
Paycom Software announced that its board of directors launched a stock repurchase program on Monday, August 15 that allows the company to repurchase $1.10 billion in stock. This repurchase authorization authorizes the software publisher to repurchase up to 4.7% of its shares through purchases on the open market. Stock buyback programs usually indicate that the management of the company believes that its shares are undervalued.
Insider Buying and Selling at Paycom Software
In other Paycom Software news, Director Frederick C. Peters II sold 1,000 shares in a trade that took place on Monday August 8th. The shares were sold at an average price of $371.17, for a total transaction of $371,170.00. Following the completion of the sale, the director now directly owns 15,778 shares of the company, valued at approximately $5,856,320.26. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders hold 15.20% of the shares of the company.
Institutional entries and exits
Institutional investors and hedge funds have recently changed their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. increased its holdings of Paycom Software shares by 5.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 151,127 shares of the software maker valued at $42,334,000 after buying an additional 7,611 shares last quarter. Quadrant Capital Group LLC increased its holdings of Paycom Software shares by 58.3% in the first quarter. Quadrant Capital Group LLC now owns 152 shares of the software maker valued at $53,000 after buying 56 additional shares in the last quarter. Mutual of America Capital Management LLC increased its holdings of Paycom Software shares by 1.1% in the first quarter. Mutual of America Capital Management LLC now owns 6,426 shares of the software maker valued at $2,226,000 after buying 70 more shares last quarter. US Bancorp DE increased its holdings of Paycom Software shares by 7.0% in the first quarter. US Bancorp DE now owns 27,472 shares of the software maker valued at $9,517,000 after buying an additional 1,790 shares last quarter. Finally, DA Davidson & CO. increased its stake in Paycom Software shares by 14.8% in the first quarter. DA Davidson & CO. now owns 1,995 shares of the software maker valued at $691,000 after buying 257 additional shares last quarter. 74.43% of the shares are held by hedge funds and other institutional investors.
Paycom Software Company Profile
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Paycom Software, Inc provides a cloud-based Human Capital Management (HCM) solution delivered as software as a service for small and medium businesses in the United States. It offers the features and data analytics companies need to manage the employment lifecycle from recruitment to retirement.
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