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Why Paycom (PAYC) Shares Are Plunging Today

What Happened? Shares of HR software provider Paycom (NYSE:PAYC) fell 13.3% in the morning session after the company reported third-quarter earnings that disappointed investors, despite meeting revenue expectations. The human resource and payroll technology provider posted adjusted earnings of 1.94pershare,fallingshortoftheconsensusestimateof1.94 per share, falling short of the consensus estimate of 1.96. While revenue of $493.3 million was slightly ahead of expectations and grew 9.2% from the previous year, the results highlighted slowing momentum. T ...