OKLAHOMA CITY (AP) – Paycom Software Inc. (PAYC) on Tuesday reported a first-quarter profit of $63 million.
The Oklahoma City-based company said it had profit of $1.08 per share. Earnings, adjusted for stock option expense and non-recurring costs, came to $1.33 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.26 per share.
The maker of human-resources and payroll software posted revenue of $242.4 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $237.7 million.
Paycom shares have declined 10% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $237.21, a rise of 21% in the last 12 months.