Paycom soars on upbeat forecast driven by AI demand
06/08/2026 13:08
BUZZ-Paycom soars on upbeat forecast driven by AI demand ** Shares of payroll processor Paycom Software PAYC.N rise 14.9% to $200.99 premarket
** Co raises FY26 revenue forecast to between $2.2 bln and $2.21 bln, from $2.18 bln to $2.2 bln, citing steady demand for its AI-driven services
** Brokerage Morningstar says co's automation efforts are boosting profitability, but growing competition and AI-related uncertainty continue to cloud long-term growth outlook
** PAYC posts Q2 adj. EPS of $2.78, above analysts' estimates of $2.38; revenue of $531.2 mln, beating estimates of $513.1 mln - data compiled by LSEG
** Seven of 21 brokerages rate the stock "buy" or higher and 14 "hold"; median PT is $205
** As of last close, stock up 9.7% YTD
(Reporting by Anand Gopal in Bengaluru)
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Paycom soars on upbeat forecast driven by AI demand