Paycom forecasts Q2 revenue below estimates [Reuters]
Paycom Software, Inc. (PAYC)
Last paycom software, inc. earnings: 4/28 04:06 pm
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investors.paycom.com/corporate-profile/default.aspx
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Source: Reuters
May 1 (Reuters) - Paycom Software on Wednesday forecast second-quarter revenue below market estimates, hit by sluggish demand for payroll and human resource management solutions. Sticky inflation and high borrowing costs have clouded the payroll processor's outlook and hurt demand for its services. Paycom forecast second-quarter revenue in the range of $434 million to $438 million, compared with estimates of $442.1 million, according to LSEG data. Shares of the Oklahoma City-based company were down 6.5% in trading after the bell. For the quarter ended March 31, Paycom posted revenue of nearly $500 million, compared with analysts' estimates of $495.8 million. The adjusted net income came in at $2.59 per share compared with $2.46 a year ago. The Technology Roundup newsletter brings the latest news and trends straight to your inbox. Sign up Reporting by Juby Babu in Mexico City; Editing by Mohammed Safi Shamsi Our Standards:
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PAYC
News
- Paycom Software, Inc. (NYSE: PAYC) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Paycom Software, Inc. (NYSE: PAYC) had its price target lowered by analysts at Mizuho from $185.00 to $170.00. They now have a "neutral" rating on the stock.MarketBeat
- Earnings Beat: Paycom Software, Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models [Yahoo! Finance]Yahoo! Finance
- Paycom Software, Inc. (NYSE: PAYC) had its "market perform" rating re-affirmed by analysts at William Blair.MarketBeat
- Paycom Software, Inc. (NYSE: PAYC) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
PAYC
Earnings
- 5/1/24 - Beat
PAYC
Sec Filings
- 5/14/24 - Form 4
- 5/14/24 - Form 4
- 5/10/24 - Form 4
- PAYC's page on the SEC website