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Paycom: 3Q Earnings Snapshot

November 4, 2020 GMT

OKLAHOMA CITY (AP) _ Paycom Software Inc. (PAYC) on Wednesday reported third-quarter earnings of $27.5 million.

The Oklahoma City-based company said it had net income of 47 cents per share. Earnings, adjusted for stock option expense, were 70 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.

The maker of human-resources and payroll software posted revenue of $196.5 million in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $192 million.

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For the current quarter ending in December, Paycom said it expects revenue in the range of $212 million to $214 million.

Paycom shares have increased 50% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $397.38, a climb of 87% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PAYC at https://www.zacks.com/ap/PAYC