Paycom Software Shares Surge After Q3 Non-GAAP Earnings, Revenue Beat Estimates

MT Newswires Live

Nov 01, 2024

Paycom Software (PAYC) shares were up over 24% in recent trading Thursday, a day after it posted Q3 non-GAAP earnings and revenue ahead of consensus.

The company reported Q3 non-GAAP earnings late Wednesday of $1.67 per diluted share, down from $1.77 a year earlier.

Analysts polled by Capital IQ expected $1.61.

Revenue for the quarter ended Sept. 30 was $451.9 million, up from $406.3 million a year earlier. Analysts surveyed by Capital IQ expected $447.2 million.

The company expects Q4 revenue ranging from $477 million to $484 million. Analysts forecast $481.5 million.

For full year 2024, the company expects revenue of $1.866 billion to $1.873 billion. It previously projected $1.86 billion to $1.88 billion. Analysts are looking for $1.87 billion.

Price: 214.00, Change: +41.75, Percent Change: +24.24

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Analysts surveyed by Capital IQ expected $447.2 million.</p><p>The company expects Q4 revenue ranging from $477 million to $484 million. Analysts forecast $481.5 million.</p><p>For full year 2024, the company expects revenue of $1.866 billion to $1.873 billion. It previously projected $1.86 billion to $1.88 billion. 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