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Real-time Estimate Cboe BZX  -  10:09 2022-09-27 am EDT
325.94 USD   +1.56%
09/07Transcript : Paycom Software, Inc. Presents at Citi’s 2022 Global Technology Conference, Sep-07-2022 03:15 PM
09/01Citigroup Starts Paycom Software at Buy With $457 Price Target
08/15Paycom Software Board Expands Share Buyback Program to $1.1 Billion
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Paycom Software, Inc. Increases Stock Repurchase Plan

08/15/2022 | 04:46pm EDT

Paycom Software, Inc. (“Paycom”) (NYSE:PAYC), a leading provider of comprehensive, cloud-based human capital management software, today announced that its Board of Directors has increased and extended its ongoing stock repurchase plan, such that $1.1 billion is available for repurchases between August 15, 2022 and August 15, 2024. Prior to the increase, approximately $550.0 million was available for repurchases.

“We are increasing our repurchase program to position us to opportunistically take advantage of market volatility and dislocations in our stock,” said Paycom’s founder and CEO, Chad Richison. “Paycom’s long-term growth opportunity, strong balance sheet and predictable cash flow give us the confidence to be aggressive buyers of our stock, if market conditions warrant, and return value to stockholders.”

Shares may be repurchased from time-to-time in open market transactions at prevailing market prices, in privately negotiated transactions or by other means in accordance with federal securities laws, including Rule 10b5-1 programs, and the repurchase plan may be suspended or discontinued at any time. The actual timing, number and value of shares repurchased will be determined by a committee of the Board of Directors at its discretion and will depend on a number of factors, including the market price of Paycom’s common stock, general market and economic conditions and other corporate considerations.

About Paycom

As a leader in payroll and HR technology, Oklahoma City-based Paycom redefines the human capital management industry by allowing companies to effectively navigate a rapidly changing business environment. Its cloud-based software solution is based on a core system of record maintained in a single database for all human capital management functions, providing the functionality that businesses need to manage the complete employment life cycle, from recruitment to retirement. Paycom has the ability to serve businesses of all sizes and in every industry. As one of the leading human capital management providers, Paycom serves clients in all 50 states from offices across the country. For more information, visit paycom.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are any statements that look to future events and include, but are not limited to, statements regarding Paycom’s business strategy; anticipated future operating results and operating expenses, cash flows, capital resources and liquidity; trends, opportunities and risks affecting Paycom’s business, industry and financial results; and Paycom’s plans to purchase shares of its common stock under the authorized stock repurchase plan. These forward-looking statements speak only as of the date hereof and are subject to business and economic risks. As such, Paycom’s actual results could differ materially from those set forth in the forward-looking statements as a result of the factors discussed in Paycom’s filings with the Securities and Exchange Commission, including but not limited to those discussed in Paycom’s Annual Report on Form 10-K for the year ended December 31, 2021. Paycom undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.

© Business Wire 2022
All news about PAYCOM SOFTWARE, INC.
09/07Transcript : Paycom Software, Inc. Presents at Citi’s 2022 Global Techno..
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Analyst Recommendations on PAYCOM SOFTWARE, INC.
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Financials (USD)
Sales 2022 1 355 M - -
Net income 2022 262 M - -
Net cash 2022 447 M - -
P/E ratio 2022 71,2x
Yield 2022 -
Capitalization 18 571 M 18 571 M -
EV / Sales 2022 13,4x
EV / Sales 2023 10,7x
Nbr of Employees -
Free-Float 78,7%
Duration : Period :
Paycom Software, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends PAYCOM SOFTWARE, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 320,93 $
Average target price 398,05 $
Spread / Average Target 24,0%
EPS Revisions
Managers and Directors
Chad R. Richison Chairman, President & Chief Executive Officer
Craig E. Boelte Chief Financial Officer, Secretary & Treasurer
Shane Hadlock Director-Information Technology
Brad Smith Director-Information Technology
Justin Long Executive Vice President-Operations
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