Paycom Software, Inc. (NYSE:PAYC – Get Rating) – KeyCorp lifted their Q4 2022 earnings estimates for Paycom Software in a note issued to investors on Tuesday, November 1st. KeyCorp analyst now forecasts that the software maker will post earnings per share of $1.19 for the quarter, up from their prior estimate of $1.13. KeyCorp currently has a “Overweight” rating and a $432.00 target price on the stock. The consensus estimate for Paycom Software’s current full-year earnings is $4.49 per share. KeyCorp also issued estimates for Paycom Software’s Q1 2023 earnings at $1.93 EPS, Q2 2023 earnings at $1.22 EPS, Q3 2023 earnings at $1.20 EPS, Q4 2023 earnings at $1.53 EPS and FY2023 earnings at $5.89 EPS.
Paycom Software (NYSE:PAYC – Get Rating) last issued its earnings results on Tuesday, August 2nd. The software maker reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. The company had revenue of $316.92 million for the quarter, compared to analyst estimates of $309.17 million. Paycom Software had a net margin of 19.40% and a return on equity of 24.94%.
A number of other analysts have also recently issued reports on PAYC. Citigroup boosted their target price on Paycom Software from $393.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday. Piper Sandler increased their target price on Paycom Software from $387.00 to $395.00 and gave the stock an “overweight” rating in a research report on Wednesday. DA Davidson cut Paycom Software from a “buy” rating to a “neutral” rating and set a $360.00 price target for the company. in a research note on Monday, July 25th. Stifel Nicolaus raised their target price on Paycom Software from $375.00 to $400.00 in a research note on Wednesday, August 3rd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $335.00 price target on shares of Paycom Software in a research report on Wednesday, August 3rd. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $390.13.
Paycom Software Trading Down 6.2%
Shares of PAYC stock opened at $306.20 on Friday. The firm has a 50-day moving average price of $337.89 and a 200 day moving average price of $320.14. Paycom Software has a twelve month low of $255.82 and a twelve month high of $522.84. The company has a market capitalization of $18.38 billion, a price-to-earnings ratio of 71.04, a PEG ratio of 3.06 and a beta of 1.39. 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 announced that its Board of Directors has authorized a share buyback program on Monday, August 15th that allows the company to repurchase $1.10 billion in outstanding shares. This repurchase authorization allows the software maker to buy up to 4.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board 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 firm’s stock in a transaction 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 of the company’s stock, valued at approximately $5,856,320.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 15.20% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the stock. Fifth Third Bancorp boosted its stake in Paycom Software by 107.8% during the 1st quarter. Fifth Third Bancorp now owns 1,307 shares of the software maker’s stock valued at $453,000 after purchasing an additional 678 shares during the last quarter. CWM LLC boosted its position in Paycom Software by 124.6% during the first quarter. CWM LLC now owns 465 shares of the software maker’s stock valued at $161,000 after buying an additional 258 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Paycom Software by 16.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,762 shares of the software maker’s stock valued at $4,421,000 after acquiring an additional 1,795 shares during the last quarter. Empirical Finance LLC raised its stake in shares of Paycom Software by 29.0% during the first quarter. Empirical Finance LLC now owns 828 shares of the software maker’s stock valued at $287,000 after acquiring an additional 186 shares during the last quarter. Finally, Strs Ohio raised its stake in Paycom Software by 1,354.7% in the first quarter. Strs Ohio now owns 18,576 shares of the software maker’s stock worth $6,434,000 after buying an additional 17,299 shares in the last quarter. 74.43% of the stock is owned by institutional investors.
Paycom Software Company Profile
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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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