Business Corpus: Paycom Software Earnings Top Views, Guidance In Line, Shares FallPaycom Software reported adjusted first-quarter earnings and revenue that beat analyst estimates and forecast in-line June quarter sales. Shares fell in late trading. The post Paycom Software Earnings Top Views, Guidance In Line, Shares Fall appeared first on Investor's Business Daily.

[Collection]

Paycom Software (PAYC) on Tuesday reported earnings and revenue that beat analyst estimates but forecast in-line June-quarter sales. Shares were down in after-hours trades.

Paycom said that adjusted first-quarter earnings were 95 cents a share, up 57% from a year ago. Revenue rose 29% to $154 million, topping consensus estimates. A year earlier, the company earned 47 cents a share on sales of $119.5 million.

Analysts expected earnings of 90 cents on sales of $151 million for the period ended March 31.

In the June quarter, Paycom said it expects sales of $124 million, in line with expectations. Paycom forecast adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $44 million, also meeting estimates.

For the full-year, Paycom increased its revenue forecast to $546 million vs. its prior outlook of $542 million. Analysts had estimated $544 million.

Ranked Fourth

Paycom is ranked No. 4 in the IBD 50 roster of growth companies.

Shares in the maker of human resources and payroll-processing software dropped 4% to 108 in after-hours trading on the stock market today. In Tuesday's regular session, shares fell 1.4% to 112.60.

The enterprise software provider has expanded its direct sales strategy by adding regional offices. That has enabled the company to gain market share for small- and medium-size business customers vs. service bureaus Automatic Data Processing (ADP) and Paychex (PAYX).

Paycom also has better margins than rivals Ultimate Software (ULTI) and Paylocity Holding (PCTY), analysts say.

YOU MAY ALSO BE INTERESTED IN:

The Big Squeeze: New Risks For Fed Interest Rates, Recession And Yield Curve

Nvidia, Apple: How To Avoid Getting Chopped Up During Market Volatility

Sell And Take Profits Or Hold? Here Are Several Guidelines To Follow

Chart-Reading Basics: How A Buy Point Marks A Time Of Real Opportunity

The post Paycom Software Earnings Top Views, Guidance In Line, Shares Fall appeared first on Investor's Business Daily.