Law Offices of Howard G. Smith announces an investigation on behalf of Paycom Software, Inc. (“Paycom” or the “Company”) (NYSE: PAYC) investors concerning the Company’s possible violations of federal securities laws.
On October 31, 2023, Paycom released its third quarter 2023 financial results and provided financial projections for 2024, estimating 10-12% revenue growth compared to analyst estimates of a 21% increase. The following day, November 1, 2023, Reuters published an article reporting that Paycom “executives said a jump in usage of its flagship product Beti, which increases efficiency for clients by letting their employees do their own payroll, was ‘cannibalizing’ some revenues it would have otherwise earned.”
On this news, Paycom’s stock price fell $94.28, or 38.4%, to close at $150.69 per share on November 1, 2023, thereby injuring investors.
If you purchased Paycom securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20231109392242/en/
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
