Paycom Software, Inc. to Report Third Quarter 2022 Earnings of $0.84 Per Share, Zacks Research Forecasts (NYSE: PAYC)

ByLance T. Lee

Oct 31, 2022

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Paycom Software, Inc. (NYSE: PAYCGet a rating) – Equity research analysts Zacks Research released their third-quarter 2022 EPS estimates for Paycom Software shares in a report released Thursday, October 27. Zacks Research analyst A. Bhagat expects the software maker to post earnings per share of $0.84 for the quarter. Paycom Software’s current annual earnings consensus estimate is $4.48 per share. Zacks Research also released estimates for Paycom Software Q4 2022 earnings at $1.09 EPS, FY2022 earnings at $4.49 EPS, Q1 2023 earnings at $1.85 EPS, Q2 2023 earnings at $1.15 EPS, Q3 2023 earnings at $1.10 EPS, Q4 2023 earnings at $1.42 EPS, FY2023 earnings at $5.52 EPS, Q1 2024 earnings at 2 $.00 EPS, Q2 2024 earnings at $1.53 EPS, Q3 2024 earnings at $1.60 EPS and FY2024 earnings at $6.93 EPS.

Several other analysts have also recently commented on PAYC. Citigroup lowered its target price on shares of Paycom Software from $457.00 to $393.00 in a Friday, October 21 report. Barclays raised its price target on Paycom Software shares from $339.00 to $343.00 and gave the stock an “equal weight” rating in a Tuesday, October 18 research note. Wolfe Research raised its price target on Paycom Software shares from $375.00 to $400.00 and gave the stock an “outperform” rating in a Thursday, Aug. 4, research note. StockNews.com purported coverage of Paycom Software stock in a Wednesday, October 12 research note. They set a “hold” rating for the company. Finally, Piper Sandler raised her price target on Paycom Software shares from $361.00 to $387.00 and gave the stock an “overweight” rating in a Wednesday, Aug. 3 research note. Five equity research analysts gave the stock a hold rating and nine gave the company a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $386.67.

Paycom Software Stock Performance

Shares of PAYC-Shares opened at $341.62 on Monday. The company has a debt ratio of 0.03, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $20.51 billion, a P/E ratio of 86.93, a price-to-earnings growth ratio of 2.98 and a beta of 1.43. The company’s 50-day moving average price is $341.99 and its two-hundred-day moving average price is $319.78. Paycom Software has a 52-week minimum of $255.82 and a 52-week maximum of $558.97.

Payment software (NYSE: PAYCGet a rating) last announced its quarterly results on Tuesday, August 2. The software maker reported earnings per share of $0.84 for the quarter, beating consensus analyst estimates 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 18.85% and a return on equity of 23.38%.

Paycom Software said its board authorized a stock repurchase program on Monday, Aug. 15 that allows the company to repurchase $1.10 billion in stock. This repurchase authorization allows the software publisher to repurchase up to 4.7% of its shares through purchases on the open market. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Paycom Software

In other news, Director Frederick C. Peters II sold 1,000 shares of the company in a trade that took place on Monday August 8th. The stock was sold at an average price of $371.17, for a total transaction of $371,170.00. Following the transaction, the administrator now directly owns 15,778 shares of the company, valued at $5,856,320.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via the SEC website. Insiders hold 15.20% of the shares of the company.

Hedge funds weigh in on Paycom software

A number of institutional investors have recently changed their holdings in PAYC. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Paycom Software by 5.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 151,127 shares of the software maker worth $42,334,000 after buying an additional 7,611 shares last quarter. Quadrant Capital Group LLC increased its stake in Paycom Software by 58.3% during the first quarter. Quadrant Capital Group LLC now owns 152 shares of the software maker worth $53,000 after buying 56 additional shares in the last quarter. Mutual of America Capital Management LLC increased its stake in Paycom Software by 1.1% in the 1st quarter. Mutual of America Capital Management LLC now owns 6,426 shares of the software maker valued at $2,226,000 after buying 70 additional shares during the period. US Bancorp DE increased its stake in Paycom Software by 7.0% in the 1st 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 during the period. Finally, DA Davidson & CO. increased its stake in Paycom Software by 14.8% in the 1st quarter. DA Davidson & CO. now owns 1,995 shares of the software maker valued at $691,000 after purchasing an additional 257 shares during the period. 74.43% of the shares are held by institutional investors and hedge funds.

About Paycom Software

(Get a rating)

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.

See also

Revenue history and estimates for Paycom software (NYSE: PAYC)

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