Paycom Software Sees Q4 Revenue $420M-$425M Vs $452.27M Est.; FY23 Revenue $1.679B-$1.684B Vs $1.72B Est.
Portfolio Pulse from Benzinga Newsdesk
Paycom Software has provided its financial guidance for Q4 2023 and FY23, expecting revenues to be in the range of $420M-$425M and $1.679B-$1.684B respectively. These estimates are lower than the market expectations of $452.27M for Q4 and $1.72B for FY23.
October 31, 2023 | 8:07 pm
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Paycom Software's lower-than-expected revenue guidance for Q4 2023 and FY23 could negatively impact its stock price in the short term.
Companies' stock prices often react to their financial guidance. In this case, Paycom Software's revenue guidance for Q4 2023 and FY23 is lower than market expectations, which could lead to a negative sentiment among investors and put downward pressure on the stock price.
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