Paycom Software (PAYC) PT Lowered to $405 at Citi
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Paycom Software (PAYC) falls 8% after Q2 results, seen as a 'rare self-inflicted wound'
August 2, 2023 7:51 AM EDTPaycom Software (NYSE: PAYC) shares fell 8.6% in pre-open Wednesday after the company reported decelerating subscriber revenue growth.
For Q2, the company reported an adjusted EPS of $1.62 on revenue of $401.1 million. Analysts were looking for a profit per share of $1.60 on revenue of $398.1M. Sales rose 27% year-over-year but the gross margin fell 60 basis points.
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