Paycom Software, Inc. Reports First Quarter 2021 Results
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May 5, 2021 7:40 AM EDT
Needham & Company analyst Ryan MacDonald lowered the price target on Paycom Software (NYSE: PAYC) to $420.00 (from $490.00) while maintaining a Buy rating.
The analyst commented, "Paycom reported 1Q results above our expectations, with results impacted by lower forms revenue within their... More
May 4, 2021 5:41 PM EDT
Paycom Software (NYSE: PAYC) reported Q1 EPS of $1.47, $0.05 better than the analyst estimate of $1.42. Revenue for the quarter came in at $272.2 million versus the consensus estimate of $271.41 million.
Financial Highlights for the First Quarter of 2021
Total Revenues of $272.2 million represented a 12.3% increase compared to total revenues of $242.4 million in the same period last year. Recurring revenues of $267.8 million increased 12.3% from the comparable prior year period, and constituted 98.4% of total revenues.GAAP Net Income was $64.6 million, or $1.11 per diluted share,...
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