Paycom (PAYC) Q4 Recurring Sales Soar on Business Expansion

Paycom Software, Inc.’s (PAYC) total revenues for recently reported fourth-quarter 2023 results surged 19.4% year over year to $434.6 million and surpassed the Zacks Consensus Estimate of $422.6 million. The robust top-line performance was mainly driven by a 17.4% increase in Recurring revenues.Fourth-quarter Recurring revenues of $427.3 million represented 98.3% of total sales and came ahead of our model estimate of $414.8 million. The company’s sustained focus on expanding its product portfolio and global ...