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Paycom (PAYC) Tops Q1 Earnings Estimates, Revenues Up 29%

Benjamin Rains
Updated

Paycom Software, Inc. PAYC  just released its first quarter financial results, posting adjusted earnings of $0.95 per share and revenues of $153.92 million.

Paycom is currently a Zacks Rank #1 (Strong Buy), which is subject to change based on today’s results. Shares of Paycom are up 88% over the last year. However, the company saw its stock price sink 1.46% on Tuesday to hit $112.54 per share prior to the release of its quarterly earnings results.

Paycom stock is currently down marginally to $111.97 in after-hours trading shortly after its earnings report was released.

PAYC:

Beat earnings estimates. The company posted adjusted earnings of $0.95 per share, beating the Zacks Consensus Estimate of $0.90 per share.

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Beat revenue estimates. The company saw revenue figures of $153.92 million, topping our consensus estimate of $151.41 million.

Paycom’s quarterly revenues jumped roughly 29% from $119.51 million in the year-ago period. Meanwhile, the human resources solutions company’s adjusted quarterly earnings climbed from $0.61 per share in the year-prior period—which reflects Paycom’s adoption of new accounting standards, known as  ASU 2014-09.

Looking ahead, Paycom expects to report Q2 revenues between $123 million and $125 million. Meanwhile, the company also projects it will report full-year revenues in the range of $545 million to $547 million. Investors should note that both of these fall in line with our current estimates. 

Here’s a graph that looks at PAYC’s Price, Consensus and EPS Surprise history:

Paycom Software, Inc. Price, Consensus and EPS Surprise

Paycom Software, Inc. Price, Consensus and EPS Surprise | Paycom Software, Inc. Quote

Paycom Software, Inc. is a provider of a cloud-based human capital management software solution. The company provides functionality and data analytics that businesses can use to manage the complete employment life cycle from recruitment to retirement.

Check back later for our full analysis on PAYC’s earnings report!

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