Paycom Increases And Extends Stock Repurchase Plan, Such That $1.5B Is Available For Repurchases Through Aug. 15, 2026 (~$676M Was Available For Repurchases)
Portfolio Pulse from Benzinga Newsdesk
Paycom Software, Inc. (NYSE:PAYC) has increased and extended its stock repurchase plan, making $1.5 billion available for repurchases through August 15, 2026. Previously, $676 million was available for repurchases.
July 31, 2024 | 9:10 pm
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POSITIVE IMPACT
Paycom Software, Inc. has increased and extended its stock repurchase plan to $1.5 billion through August 15, 2026, from the previous $676 million. This move is likely to positively impact the stock price in the short term as it signals confidence in the company's financial health and future prospects.
Increasing and extending the stock repurchase plan indicates that Paycom has strong cash flow and is confident in its future performance. This is generally viewed positively by investors, as it can lead to a higher stock price due to reduced supply of shares and a signal of management's confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100