Paycom shares are trading lower after the company reported worse-than-expected Q3 sales results and issued Q4 and FY23 revenue guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
Paycom Software Inc. reported lower than expected Q3 sales results and issued Q4 and FY23 revenue guidance below estimates, leading to a drop in its share price.
October 31, 2023 | 8:23 pm
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NEGATIVE IMPACT
Paycom's lower than expected Q3 sales and disappointing Q4 and FY23 revenue guidance could negatively impact its stock price in the short term.
Paycom's stock price is likely to be negatively impacted due to the company's lower than expected Q3 sales results and its lower than expected revenue guidance for Q4 and FY23. This news could shake investor confidence in the company's future performance, leading to selling pressure on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100