Why Paycom Stock Is Skyrocketing Today
Paycom Software (NYSE: PAYC) stock is surging in Thursday's trading following the company's recently published third-quarter results. The company's share price was up 24.7% as of 2:15 p.m. ET.
Paycom published its Q3 results after the market closed yesterday, and sales and earnings for the period beat Wall Street's targets. In addition to the Q3 beats, the company also issued strong guidance for the current quarter.
Paycom posted non-GAAP (adjusted) earnings per share $1.67 on revenue of $451.9 million in the third quarter. Sales in the period were up roughly 11.2% year over year, while earnings per share were down roughly 5.2%. The results came in ahead of the average analyst estimate's call for adjusted earnings per share of $1.61 on revenue of $447.2 million.
Source Fool.com
