CORRECTED-Payroll software maker Paycom forecasts weak 2026 revenue, shares fall (February 11)
Paylocity Holding Corp. PCTY | 106.14 | +0.91% |
Workday, Inc. Class A WDAY | 132.26 | +2.49% |
Automatic Data Processing, Inc. ADP | 204.01 | +1.36% |
Paycom Software, Inc. PAYC | 123.56 | +2.28% |
Removes reference to businesses delaying or reducing HR purchase in paragraph 1 of February 11 story; Removes paragraphs 2 and 3 with reference to impact on Paycom from macroeconomic challenges and slowdown in hiring at small- and -sized businesses
Feb 11 (Reuters) - Paycom Software PAYC.N forecast annual revenue below Wall Street expectations on Wednesday, sending its shares down over 7% in extended trading.
The human capital management market has become increasingly crowded, with Paycom competing against rivals such as ADP ADP.O, Paylocity PCTY.O and Workday WDAY.O for market share.
The Oklahoma City-based company provides cloud-based software that handles everything from talent acquisition and payroll to time management on a single platform.
Paycom forecast 2026 revenue in the range of $2.18 billion to $2.20 billion, below analysts' average estimate of $2.23 billion, according to data compiled by LSEG.
The payroll processor reported revenue of $544.3 million for the fourth quarter ended December 31, ahead of analysts' estimates of $543 million.