Paycom Software, Inc. Reports First Quarter 2021 Results
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Paycom Software (PAYC) PT Lowered to $420 at Needham & Company
May 5, 2021 7:40 AM EDTNeedham & 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
Paycom Software (PAYC) Tops Q1 EPS by 5c, Revenues Beat; Offers 2Q & FY21 Revenues Guidance Above Consensus
May 4, 2021 5:41 PM EDTPaycom 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,... More