Brokers Set Expectations for Paycom Software, Inc.’s FY2022 Earnings (NYSE:PAYC)

Paycom Software, Inc. (NYSE:PAYC) – Equities research analysts at Piper Sandler decreased their FY2022 earnings per share estimates for Paycom Software in a note issued to investors on Thursday, January 13th. Piper Sandler analyst A. Ramnani now forecasts that the software maker will earn $4.31 per share for the year, down from their previous estimate of $4.38. Piper Sandler has a “Overweight” rating and a $498.00 price target on the stock.

Paycom Software (NYSE:PAYC) last posted its earnings results on Tuesday, November 2nd. The software maker reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.32. The firm had revenue of $256.19 million during the quarter, compared to the consensus estimate of $250.26 million. Paycom Software had a net margin of 17.31% and a return on equity of 22.57%. During the same quarter in the prior year, the company earned $0.47 EPS.

PAYC has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Paycom Software in a research report on Monday, November 1st. They issued a “buy” rating and a $655.00 price objective for the company. KeyCorp increased their price objective on shares of Paycom Software from $475.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, November 4th. Oppenheimer increased their price objective on shares of Paycom Software from $500.00 to $595.00 and gave the company an “outperform” rating in a research report on Wednesday, November 3rd. Wolfe Research increased their price objective on shares of Paycom Software from $450.00 to $550.00 and gave the company an “outperform” rating in a research report on Wednesday, November 3rd. Finally, Needham & Company LLC increased their price objective on shares of Paycom Software from $495.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, November 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $512.86.

PAYC opened at $333.99 on Friday. The firm has a 50 day moving average price of $425.58 and a 200 day moving average price of $451.06. The company has a market cap of $20.05 billion, a PE ratio of 113.22, a price-to-earnings-growth ratio of 3.43 and a beta of 1.45. Paycom Software has a 1 year low of $302.44 and a 1 year high of $558.97. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.07 and a current ratio of 1.07.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Paycom Software by 3.8% during the third quarter. BlackRock Inc. now owns 5,390,072 shares of the software maker’s stock worth $2,672,128,000 after acquiring an additional 198,947 shares during the period. State Street Corp grew its holdings in Paycom Software by 1.7% during the second quarter. State Street Corp now owns 1,925,292 shares of the software maker’s stock worth $699,786,000 after acquiring an additional 32,115 shares during the period. Capital Research Global Investors grew its holdings in Paycom Software by 189.6% during the third quarter. Capital Research Global Investors now owns 1,632,393 shares of the software maker’s stock worth $809,259,000 after acquiring an additional 1,068,686 shares during the period. Wellington Management Group LLP grew its holdings in Paycom Software by 25.9% during the third quarter. Wellington Management Group LLP now owns 1,478,690 shares of the software maker’s stock worth $733,060,000 after acquiring an additional 304,054 shares during the period. Finally, Geode Capital Management LLC increased its stake in Paycom Software by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 954,181 shares of the software maker’s stock worth $471,858,000 after purchasing an additional 17,279 shares in the last quarter. 72.78% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Company Profile

Paycom Software, Inc provides comprehensive, cloud-based human capital management (HCM) software solutions delivered as Software-as-a-Service. It provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. Its solutions requires virtually no customization and is based on a core 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 management applications.

Recommended Story: What is meant by a buy rating?

Receive News & Ratings for Paycom Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paycom Software and related companies with MarketBeat.com's FREE daily email newsletter.