Somewhat Favorable News Coverage Somewhat Unlikely to Impact Paycom Software (PAYC) Stock Price
Press coverage about Paycom Software (NYSE:PAYC) has been trending somewhat positive on Friday, according to Accern. Accern identifies negative and positive news coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Paycom Software earned a media sentiment score of 0.18 on Accern’s scale. Accern also gave media headlines about the software maker an impact score of 46.9819391223935 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Here are some of the news stories that may have effected Accern Sentiment Analysis’s rankings:
- What is the Stochastic Momentum Reading Portraying For Paycom Software Inc (PAYC) – Freeburg Standard (freeburgstandard.com)
- Traders Alert on Paycom Software, Inc. (PAYC) – Wall Street Morning (wallstreetmorning.com)
- Paycom Appoints Janet Haugen to its Board of Directors (finance.yahoo.com)
- Paycom Software (PAYC) Price Target Increased to $85.00 by Analysts at Credit Suisse Group (americanbankingnews.com)
- Paycom Software (PAYC) Price Target Raised to $97.00 at Barclays (americanbankingnews.com)
A number of brokerages have weighed in on PAYC. KeyCorp raised Paycom Software from a “sector weight” rating to an “overweight” rating in a report on Tuesday, February 13th. Zacks Investment Research raised Paycom Software from a “hold” rating to a “strong-buy” rating and set a $97.00 price objective on the stock in a report on Friday, February 9th. Credit Suisse Group lifted their price objective on Paycom Software from $82.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, February 7th. Barclays lifted their price objective on Paycom Software from $96.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Finally, Bank of America lifted their price objective on Paycom Software from $92.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $88.56.
Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.05. Paycom Software had a return on equity of 46.27% and a net margin of 15.43%. The firm had revenue of $114.00 million during the quarter, compared to the consensus estimate of $113.01 million. During the same period in the previous year, the firm posted $0.18 EPS. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. equities research analysts expect that Paycom Software will post 1.85 earnings per share for the current year.
Paycom Software declared that its Board of Directors has initiated a stock buyback program on Tuesday, February 13th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the software maker to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, CFO Craig E. Boelte sold 11,000 shares of Paycom Software stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $78.92, for a total transaction of $868,120.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey D. York sold 50,000 shares of Paycom Software stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $79.97, for a total value of $3,998,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 79,750 shares of company stock valued at $6,533,308 over the last 90 days. Insiders own 17.90% of the company’s stock.
About Paycom Software
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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