Paycom Software Inc (NYSE: PAYC) shares are tumbling Wednesday after the company reported disappointing top-line results and issued weak guidance. Several analysts also downgraded the stock following the print.
- Q3 Revenue: $406.3 million missed estimates of $411.18 million
- Q3 EPS: $1.77 beat estimates of $1.61
Total revenues were up 21.6% year-over-year. Total debt was $29 million as of Sept. 30. The company ended the quarter with $484 million in cash and equivalents.
"Our third quarter fundamentals were strong with solid revenue and earnings growth. Our innovations have transformed the payroll and HCM ...