Paycom Software, Inc ( PAYC ). reported better-than-expected earnings for the first quarter on Wednesday.

The company posted quarterly earnings of $2.80 per share which beat the analyst consensus estimate of $2.56 per share. The company reported quarterly sales of $530.50 million which beat the analyst consensus estimate of $524.95 million.

“We delivered strong results in the first quarter, led by our differentiated approach to automation, strong sales execution and operational efficiency gains,” said Paycom founder, CEO and chairman, Chad Richison. “Our investments in automation, client ROI achievement and world-class service are paying off. With our accelerating momentum and expanding margins, I am pleased to be able to raise our outlook for 2025.”

Paycom Software ( PAYC ) raised its FY2025 sales outlook from $2.02 billion-$2.04 billion to $2.02 billion-$2.04 billion.

Paycom Software ( PAYC ) shares gained 6.6% to trade at $243.83 on Thursday.

These analysts made changes to their price targets on Paycom Software ( PAYC ) following earnings announcement.

Piper Sandler analyst Arvind Ramnani maintained Paycom Software ( PAYC ) with a Neutral and raised the price target from $224 to $246.

Stifel analyst Brad Reback maintained the stock with a Hold and raised the price target from $187 to $215.

Needham analyst Joshua Reilly, meanwhile, reiterated Paycom Software ( PAYC ) with a Hold rating.

Considering buying PAYC stock? Here’s what analysts think:

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