Earnings Review and Free Research Report: Paycom Announces Record Revenue, Net Income, and Adjusted EBITDA
Research Desk Line-up: Nuance Communications Post Earnings Coverage
LONDON, UK / ACCESSWIRE / August 17, 2017 /Pro-Trader Daily has just published a free post-earnings coverage on Paycom Software, Inc. (NYSE: PAYC), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=PAYC, following the Company's posting of its second quarter fiscal 2017 operating results on August 01, 2017. The leading provider of comprehensive, cloud-based human capital management software reported a 33% gain in revenue while net income jumped 36%, both surpassing market estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
Get more of our free earnings reports coverage from other constituents of the Application Software industry. Pro-TD has currently selected Nuance Communications, Inc. (NASDAQ: NUAN) for due-diligence and potential coverage as the Company announced on August 08, 2017, its financial results for Q3 FY17 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Nuance Communications when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on PAYC; also brushing on NUAN. With the links below you can directly download the report of your stock of interest free of charge at:
For Q2 2017, Paycom's total revenue surged 33% to a record $98.2 million compared to total revenue of $73.9 million in Q2 2016, primarily driven by strong new business wins. The Company's revenue numbers surpassed analysts' estimates of $96.1 million.
During Q2 2017, Paycom's recurring revenues was $96.4 million, constituting 98% of total revenues and growing 33% on a y-o-y basis.
Paycom's total adjusted gross profit for Q2 2017 was $81.6 million, representing an adjusted gross margin of 83%. For FY17, the Company is forecasting adjusted gross margin to be in the range of 82% to 84%. Paycom's adjusted R&D was $7.5 million in the reported quarter. The Company is anticipating adjusted R&D expense in Q3 2017 to increase by approximately 100 basis points as a percentage of revenue compared to Q3 2016.
For Q2 2017, Paycom's GAAP net income was $14.2 million, or $0.24 per diluted share, compared to GAAP net income of $10.4 million, or $0.18 per diluted share, in Q2 2016. The Company's non-GAAP net income was $15.2 million, or $0.26 per diluted share, for the reported quarter compared to $12.4 million, or $0.21 per diluted share, in the year ago same period. Paycom's earnings exceeded Wall Street's expectation of $0.20 per share.
Paycom's adjusted EBITDA was $27.8 million, or 28% of total revenues, in Q2 2017 compared to $22.6 million, or 31% of total revenues, in Q2 2016.
As of June 30, 2017, Paycom's cash and cash equivalents were $68.1 million, while the Company's total debt was $34.6 million as of June 30, 2017. This debt consisted solely of debt on its corporate headquarters. During Q2 2017, Paycom repurchased approximately 460,000 shares as part of its $50 million share repurchase plan, including 235,000 shares in the open market purchases. This is the Company's second $50 million repurchase plan in the past 13 months as it completed the first $50 million share repurchase plan in December 2016.
Paycom's cash from operations was $15.1 million for Q2 2017. The average daily balance of funds held on behalf of clients was approximately $802 million in the reported quarter which increased approximately 27% on a y-o-y basis.
For the quarter ending September 30, 2017, Paycom is forecasting total revenues in the range of $99 million to $101 million and adjusted EBITDA in the band of $21 million to $23 million.
For the year ending December 31, 2017, Paycom is projecting total revenues in the range of $429.5 million to $431.5 million and adjusted EBITDA in the range of $122.5 million to $124.5 million.
On Wednesday, August 16, 2017, the stock closed the trading session at $71.41, slightly down 0.17% from its previous closing price of $71.53. A total volume of 275.36 thousand shares have exchanged hands. Paycom Software's stock price soared 12.99% in the last three months, 35.27% in the past six months, and 40.82% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have skyrocketed 56.98%. The stock is trading at a PE ratio of 76.95. At Wednesday's closing price, the stock's net capitalization stands at $4.20 billion.
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email email@example.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
© 2017 Accesswire. All Rights Reserved.