Here's Why Paycom Software Shares Gained 29.2% Last Month
Shares of Paycom Software (NYSE: PAYC) rose 29.2% in April 2020, according to data from S&P Global Market Intelligence. Shares of the company, which provides cloud-based software and services for payroll and human resources management, mostly moved in sync with a generally bullish market until April 28, when it reported strong first-quarter results. Paycom's stock surged more than 14% that day.
In the first quarter, Paycom revenues rose 21% year over year to $242 million, while earnings jumped 12% to $1.33 per share. The analysts' consensus had forecast earnings near $1.27 per share on revenues near $239 million.
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