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Why Paycom Stock Is Skyrocketing Today
The Motley Fool· 2024-10-31 19:05
Paycom's Q3 results and forward guidance suddenly have investors feeling very bullish again.Paycom Software (PAYC 23.62%) stock is surging in Thursday's trading following the company's recently published third-quarter results. The company's share price was up 24.7% as of 2:15 p.m. ET.Paycom published its Q3 results after the market closed yesterday, and sales and earnings for the period beat Wall Street's targets. In addition to the Q3 beats, the company also issued strong guidance for the current quarter.P ...
Why Shares of Paycom Soared This Week
The Motley Fool· 2024-10-31 18:03
Paycom's automated solutions are beloved by its customers, and the results may be starting to show.Shares of human capital management (HCM) software provider Paycom Software (PAYC 24.78%) are up 28% this week as of 1:40 p.m. ET Thursday, according to data provided by S&P Global Market Intelligence.Paycom reported third-quarter earnings, beating analysts' expectations, growing revenue by 11% and offering improved guidance for the remainder of 2024. Most importantly, however, Paycom hinted that its ongoing re ...
Paycom Tops Q3 Earnings Estimates: Will Strong Results Lift the Stock?
ZACKS· 2024-10-31 14:11
Paycom Software, Inc. (PAYC) reported better-than-expected third-quarter 2024 results. The online payroll and human resource technology provider reported non-GAAP earnings of $1.67 per share for the third quarter, beating the Zacks Consensus Estimate of $1.62.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.However, the bottom line declined 5.6% year over year as the benefits of higher revenues and lower share count were more than offset by increased operating expenses, interest expe ...
Paycom Software (PAYC) Tops Q3 Earnings and Revenue Estimates
ZACKS· 2024-10-30 22:20
Core Viewpoint - Paycom Software (PAYC) reported quarterly earnings of $1.67 per share, exceeding the Zacks Consensus Estimate of $1.62 per share, but down from $1.77 per share a year ago, indicating a 5.65% year-over-year decline in earnings [1][2] Financial Performance - The company achieved revenues of $451.93 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.14% and reflecting a year-over-year increase from $406.3 million [2] - Over the last four quarters, Paycom has consistently exceeded consensus EPS estimates and revenue estimates [2] Stock Performance and Outlook - Paycom shares have declined approximately 19% since the beginning of the year, contrasting with the S&P 500's gain of 22.3% [3] - The current consensus EPS estimate for the upcoming quarter is $1.96 on revenues of $482.33 million, and for the current fiscal year, it is $7.79 on revenues of $1.87 billion [7] Industry Context - The Internet - Software industry, to which Paycom belongs, is currently ranked in the top 33% of over 250 Zacks industries, suggesting a favorable industry outlook [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Paycom's stock performance [5][6]
Paycom Software(PAYC) - 2024 Q3 - Quarterly Results
2024-10-30 20:10
Exhibit 99.1 Paycom Software, Inc. Reports Third Quarter 2024 Results Third Quarter Revenues of $452 million, up 11% from the comparable prior year period Third Quarter GAAP Net Income of $73 million, representing 16% of total revenues, or $1.31 per diluted share Third Quarter Non-GAAP Net Income of $93 million, or $1.67 per diluted share Third Quarter Adjusted EBITDA of $171 million, representing 38% of total revenues OKLAHOMA CITY – October 30, 2024 – (BUSINESS WIRE) – Paycom Software, Inc. ("Paycom," "we ...
Paycom Set to Report Q3 Earnings: What's in Store for the Stock?
ZACKS· 2024-10-25 16:26
Core Viewpoint - Paycom Software (PAYC) is expected to report third-quarter 2024 results with anticipated revenues between $444 million and $449 million, reflecting a year-over-year growth of approximately 10% from $406.3 million in the same quarter last year [1][2] Financial Performance Expectations - The Zacks Consensus Estimate for PAYC's revenues is $446.9 million, while the consensus for earnings per share (EPS) is $1.62, indicating a decline of 8.5% year-over-year [1] - Adjusted EBITDA is projected to be in the range of $155 million to $159 million, suggesting an adjusted EBITDA margin of around 35% at the midpoint [1] - PAYC has consistently beaten the Zacks Consensus Estimate in the past four quarters, with an average surprise of 6.7% [1] Growth Drivers - The anticipated performance is likely supported by an expanding client base due to product innovations and a high-margin recurring revenue model, with recurring revenues estimated at $437.3 million, indicating a year-over-year growth of 9.7% [2] - Investments in artificial intelligence (AI), automation, and international expansion are expected to enhance sales growth [2][3] Challenges - The company's performance may be negatively impacted by headcount reductions among its clients due to macroeconomic uncertainties, leading to lower transaction volumes and reduced spending on payroll and human capital management services [3] - The uncertain macroeconomic environment and geopolitical issues are contributing to these challenges [3] Earnings ESP and Zacks Rank - Currently, PAYC has an Earnings ESP of -0.35% and a Zacks Rank of 4 (Sell), indicating lower odds of an earnings beat compared to other stocks [4]
Earnings Preview: Paycom Software (PAYC) Q3 Earnings Expected to Decline
ZACKS· 2024-10-23 15:07
Paycom Software (PAYC) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on Octo ...
Navigating The Uncertainties Of Investing In Paycom: The Unresolved Risks And Potential Upside
Seeking Alpha· 2024-09-28 07:01
Over the last several years, almost everything that could go wrong has gone wrong for Paycom (NYSE: PAYC ). Since late 2021, the company's revenue and earnings have decelerated, and it has gone from one of the most attractive growth I have been a Merchant Seaman that has traveled the world for over 30 years. Within the last 15 years, I developed a very intense interest in investing. I learned a lot of what I know about investing from The MF. Also because I have a engineering background, I often tend to grav ...
Paycom Software: Despite Short-Term Challenges, Poised For Strong Annual Revenue Growth
Seeking Alpha· 2024-09-27 11:42
PayCom Software, Inc. (NYSE: PAYC ) is a US company specialising in the development of cloud-based human resource management (HRM) and payroll software, whose share price has fallen by around 70% since the end of 2021. Unsurprisingly, a staggeringly large increase was priced into the I am a full-time investor focusing on high-quality and growth companies. One of my other major areas is stocks with high starting dividends and low valuations. I regularly use EVA framework in addition to the normal accounting ...
Paycom (PAYC) Dips 23% YTD: What Should Investors Do Now?
ZACKS· 2024-08-21 13:31
Paycom Software, Inc. (PAYC) has witnessed a challenging year, with its stock down more than 23% year to date (YTD), significantly underperforming the broader market. In contrast, the S&P 500 and the Zacks Computer and Technology sector have seen gains of 17.6% and 22.5%, respectively. Paycom's performance has also lagged behind key competitors like SAP SE (SAP) , Automatic Data Processing, Inc. (ADP) and Paychex, Inc. (PAYX) , which have posted YTD gains of 40.9%, 13.5% and 5.2%, respectively. This dispari ...