Paycom Stock Is Plunging Wednesday: What's Going On?
Portfolio Pulse from Adam Eckert
Paycom Software Inc's shares fell after the company reported lower-than-expected Q3 revenue and issued weak guidance. Several analysts downgraded the stock following the results. Q3 revenue was $406.3 million, missing estimates of $411.18 million. The company sees Q4 revenue in the range of $420 million to $425 million, below estimates of $452.27 million. The company's shares were down 36.9% at $154.50 at the time of publication.
November 01, 2023 | 1:42 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Paycom's stock price fell significantly after disappointing Q3 results and weak guidance. Several analysts downgraded the stock, which could further impact the stock price.
Paycom's lower-than-expected Q3 revenue and weak guidance have led to a significant drop in its stock price. The stock has also been downgraded by several analysts, which could lead to further selling pressure. This makes it likely that the stock price will continue to be negatively impacted in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100