Paycom Expects Q1 Total Revenues Of $494M-$497M (Est $500.512M), 2024 Total Revenues Of $1.86B-$1.885B (Est. $1.87B)
Portfolio Pulse from Benzinga Newsdesk
Paycom Software, Inc. forecasts its Q1 total revenues to be between $494M-$497M, falling short of the estimated $500.512M. For 2024, the company projects revenues of $1.86B-$1.885B, closely aligning with the estimated $1.87B.
February 07, 2024 | 9:11 pm
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NEGATIVE IMPACT
Paycom Software, Inc. projects lower-than-expected Q1 revenues but aligns its 2024 revenue forecast closely with estimates.
The short-term impact on PAYC's stock price is likely negative due to the Q1 revenue forecast missing analyst estimates, which can lead to investor disappointment and potential sell-off. However, the alignment of the 2024 revenue forecast with estimates may mitigate some of the negative sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100