Paycom Software Q1 guidance falls short of estimates

Investing.com -- Paycom Software fell in afterhours trading Wednesday as weaker-than-expected guidance for the current quarter overshadowed fourth-quarter results that beat analyst estimates on both the top and bottom lines.

The company, which provides HR and payroll technology, guided Q1 revenue in a range of $494M to $497M, missing Wall Street estimates of $500.2M.

Paycom Soft (NYSE: PAYC) fell more than 4% in after hours trading.

Paycom Software reported adjusted EPS of $1.93 on revenue of $434.6M, topping estimates of $1.78 and $422.5M, respectively.

Looking ahead to 2024, the company forecast revenue in a range of $1.86B to $1.89B.

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