Paycom falls on weak Q2 forecast

Paycom Software

01/05/2024 22:12

** Payroll processor Paycom Software  PAYC.N  falls 11% to
$165.6 in trading after-hours
    ** Forecasts Q2 revenue below market estimates, hit by
sluggish demand for payroll and human resource management
solutions
    ** Sees revenue between $434 mln- $438 mln, compared with
analysts' estimates of $442.1 mln- LSEG data
    ** Posts Q1 revenue of nearly $500 mln, compared with
estimates of $495.8 mln
    ** Stock has fallen 9.9% YTD

 (Reporting by Juby Babu in Mexico City)
 ((Juby.Babu@thomsonreuters.com;))