Press release

Paycom Software (PAYC) Tanks After Revenue Shortfall and Dismal 2024 Guidance – Hagens Berman

SAN FRANCISCO, Nov. 06, 2023 (GLOBE NEWSWIRE) -- Hagens Berman urges Paycom Software, Inc. (NYSE:PAYC) investors who suffered substantial losses to submit your losses now.  

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Paycom Software, Inc. (NYSE:PAYC) Investigation:

The investigation focuses on the propriety of Paycom's statements and risk disclosures concerning the company's core Beti platform.

On Oct. 31, 2023, Paycom reported its Q3 2023 financial results, including disappointing Q3 revenues, and guided for Q4 2023 and 2024 revenues that were significantly below consensus estimates. At the earnings call, Paycom CEO Craig Boelte explained that Paycom's growth is being curbed by cannibalization, noting that clients have been cutting down spending on ...

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