Paycom Software, Inc. (NYSE:PAYC) issued its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.11, Morningstar.com reports. Paycom Software had a net margin of 14.28% and a return on equity of 35.77%. The company had revenue of $98.20 million for the quarter, compared to the consensus estimate of $95.98 million. During the same period last year, the firm posted $0.21 EPS. Paycom Software’s revenue for the quarter was up 32.9% on a year-over-year basis.
Paycom Software (NYSE:PAYC) traded down 0.28% during midday trading on Friday, reaching $70.25. 329,062 shares of the company were exchanged. Paycom Software has a 52-week low of $39.15 and a 52-week high of $73.61. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 76.19 and a beta of 1.75. The firm’s 50-day moving average price is $69.36 and its 200 day moving average price is $62.20.
Several research analysts have issued reports on the stock. Canaccord Genuity raised their price objective on shares of Paycom Software from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, June 27th. Mizuho reiterated a “hold” rating and issued a $70.00 price objective on shares of Paycom Software in a research note on Tuesday, August 1st. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $74.00 price objective (up previously from $67.00) on shares of Paycom Software in a research note on Wednesday, August 2nd. Stifel Nicolaus lifted their target price on shares of Paycom Software from $67.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, Oppenheimer Holdings, Inc. lifted their target price on shares of Paycom Software from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Paycom Software presently has a consensus rating of “Buy” and an average price target of $75.36.
In related news, insider Jeffrey D. York sold 40,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $66.93, for a total value of $2,677,200.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Stacey M. Pezold sold 30,000 shares of the stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $70.15, for a total value of $2,104,500.00. The disclosure for this sale can be found here. 17.90% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Sapphire Star Partners LP increased its position in Paycom Software by 3.6% in the first quarter. Sapphire Star Partners LP now owns 11,338 shares of the software maker’s stock worth $652,000 after buying an additional 392 shares in the last quarter. Granite Investment Partners LLC increased its position in Paycom Software by 10.4% in the first quarter. Granite Investment Partners LLC now owns 203,933 shares of the software maker’s stock worth $11,728,000 after buying an additional 19,214 shares in the last quarter. Sit Investment Associates Inc. purchased a new position in Paycom Software during the first quarter worth approximately $627,000. Fisher Asset Management LLC increased its position in Paycom Software by 52.7% in the first quarter. Fisher Asset Management LLC now owns 205,570 shares of the software maker’s stock worth $11,822,000 after buying an additional 70,939 shares in the last quarter. Finally, Nationwide Fund Advisors increased its position in Paycom Software by 5.7% in the first quarter. Nationwide Fund Advisors now owns 268,244 shares of the software maker’s stock worth $15,427,000 after buying an additional 14,497 shares in the last quarter. Hedge funds and other institutional investors own 90.42% 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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