Paycom Software, Inc. (NYSE:PAYC) announced its quarterly earnings data on Wednesday. The company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.05. The firm earned $87.80 million during the quarter, compared to analyst estimates of $86.43 million. Paycom Software had a return on equity of 27.37% and a net margin of 13.17%. Paycom Software’s quarterly revenue was up 34.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 earnings per share.
Paycom Software (NYSE:PAYC) opened at 45.26 on Thursday. The stock’s 50 day moving average price is $47.12 and its 200 day moving average price is $47.84. The firm has a market capitalization of $2.62 billion, a P/E ratio of 66.76 and a beta of 1.71. Paycom Software has a 12 month low of $22.84 and a 12 month high of $52.93.
In other news, Director Frederick C. Peters II acquired 1,000 shares of the firm’s stock in a transaction on Monday, November 14th. The shares were purchased at an average cost of $41.24 per share, with a total value of $41,240.00. Following the completion of the purchase, the director now owns 21,000 shares of the company’s stock, valued at $866,040. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Chad R. Richison acquired 25,000 shares of the firm’s stock in a transaction on Tuesday, December 13th. The shares were purchased at an average cost of $45.73 per share, for a total transaction of $1,143,250.00. The disclosure for this purchase can be found here. Insiders have bought 26,250 shares of company stock valued at $1,194,945 in the last ninety days. 18.70% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the company. Capital World Investors boosted its stake in shares of Paycom Software by 299.5% in the third quarter. Capital World Investors now owns 3,974,571 shares of the company’s stock valued at $199,245,000 after buying an additional 2,979,732 shares in the last quarter. Brown Capital Management LLC purchased a new stake in shares of Paycom Software during the fourth quarter valued at $102,935,000. 1832 Asset Management L.P. purchased a new stake in shares of Paycom Software during the third quarter valued at $52,929,000. Victory Capital Management Inc. boosted its stake in shares of Paycom Software by 52,877.5% in the third quarter. Victory Capital Management Inc. now owns 786,186 shares of the company’s stock valued at $39,411,000 after buying an additional 784,702 shares in the last quarter. Finally, Carlson Capital L P boosted its stake in shares of Paycom Software by 1,028.8% in the second quarter. Carlson Capital L P now owns 573,450 shares of the company’s stock valued at $24,779,000 after buying an additional 522,650 shares in the last quarter. 82.03% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently weighed in on the company. Oppenheimer Holdings, Inc. assumed coverage on Paycom Software in a report on Thursday, December 1st. They issued an “outperform” rating and a $55.00 price objective for the company. Canaccord Genuity reissued a “buy” rating and issued a $55.00 price objective on shares of Paycom Software in a report on Friday, February 3rd. Jefferies Group LLC restated a “buy” rating and issued a $58.00 target price on shares of Paycom Software in a research note on Wednesday, January 18th. Finally, J P Morgan Chase & Co downgraded Paycom Software from an “overweight” rating to a “neutral” rating and set a $53.00 target price for the company. in a research note on Wednesday, November 2nd. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $54.91.
About Paycom Software
Paycom Software, Inc (Paycom) is a provider of cloud-based human capital management (HCM) software solution delivered as software as a service (SaaS). The Company’s solution is based on a 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 (HR) management applications.