Analyst Consensus ?
ConsensusHold34 ratings
Bullish1647.1%
Neutral1750.0%
Bearish12.9%
1 unmapped firm rating excluded from the percentages.
Paycom Software, Inc. · PAYC · FY2025 Q3 · Calendar Q4 2025
Paycom emphasizes IWant adoption, automation and disciplined AI investment
The supplied analysis supports a constructive but conditional view: recurring growth, automation and early IWant adoption strengthen Paycom's operating story, but the durability of that benefit depends on monetization, execution and investment efficiency.
Reported After market closeNYSETechnology
$9.96B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.94
Consensus $1.95
EPS surprise
-0.5%
Reported versus consensus
Reported revenue
$493.3M
Consensus $492.9M
Revenue surprise
+0.1%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-10.7%
Event window
SPY move
-1.1%
Same window
Abnormal move
-9.7%
Stock minus SPY
Volume
3.5×
Versus trailing sessions
Subsequent drift
+1.0%
Up to 20 sessions
PAYCSPY benchmark
Ask FN2 about PAYC FY2025 Q3
Transcript, numbers and history already loaded
Why did PAYC fall 10.7% after missing EPS estimates in FY2025 Q3?What changed in PAYC's guidance and outlook in FY2025 Q3?Give me the bull and bear case for PAYC after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The current analysis shifts emphasis from the initial IWant launch and raised outlook to broader client rollout, reported C-suite adoption, Beti-driven customer reactivation and a maintained outlook. It also frames AI infrastructure spending as front-loaded, with future capacity supported by owned data centers.
Guidance delta
Maintained; the supplied analysis says management remained on track with its outlook.
Key takeaways
- Management highlighted double-digit organic recurring growth and expanding adjusted EBITDA margins.
- IWant was described as gaining broad C-suite adoption and supporting cross-sell potential.
- Beti automation was credited with helping win back former customers.
- The AI infrastructure investment is intended to support future capacity, while owned data centers may limit incremental spending.
- The main open questions are measurable usage, monetization, marketing efficiency and cash-flow effects.
Management priorities
- Expand IWant functionality and automation across more HCM modules.
- Use owned data-center capacity to support future AI initiatives.
- Add sales capacity through new offices while maintaining high-touch service.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$220.99Current
$120Low
$262.63Average
$550High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 4, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Keybanc | Overweight | Overweight | Maintain | Sep 21, 2026 |
| UBS | Buy | Buy | Maintain | Sep 1, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Aug 25, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Aug 7, 2026 |
| TD Cowen | Buy | Buy | Maintain | Aug 6, 2026 |
| Stifel | Hold | Hold | Maintain | Aug 6, 2026 |
| Guggenheim | Buy | Buy | Maintain | Aug 6, 2026 |
| Cantor Fitzgerald | Neutral | Neutral | Maintain | Aug 6, 2026 |
| BTIG | Buy | Buy | Maintain | Aug 6, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Aug 6, 2026 |
| Mizuho | Neutral | Neutral | Maintain | May 7, 2026 |
| Jefferies | Hold | Hold | Maintain | Feb 12, 2026 |
| BMO Capital | Market Perform | Market Perform | Maintain | Feb 12, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | May 8, 2025 |
| Needham | Hold | Hold | Maintain | May 8, 2025 |
| B of A Securities | Neutral | Buy | Downgrade | Nov 2, 2023 |
| William Blair | Market Perform | Outperform | Downgrade | Nov 1, 2023 |
| Oppenheimer | Perform | Outperform | Downgrade | Nov 1, 2023 |
| Deutsche Bank | Hold | Buy | Downgrade | Nov 1, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Aug 2, 2023 |
| Baird | Outperform | Outperform | Maintain | Aug 2, 2023 |
| DA Davidson | Buy | Neutral | Upgrade | Mar 30, 2023 |
| MoffettNathanson | Underperform | Underperform | Maintain | Jan 9, 2023 |
| Wolfe Research | Outperform | Outperform | Maintain | Nov 2, 2022 |
| RBC Capital | Outperform | Outperform | Maintain | Feb 11, 2021 |
| Cowen & Co. | Outperform | Outperform | Maintain | Feb 11, 2021 |
| Stifel Nicolaus | Hold | Hold | Maintain | Oct 30, 2019 |
| Citi | Buy | Buy | Maintain | Oct 25, 2019 |
| Canaccord Genuity | Hold | Hold | Maintain | May 2, 2019 |
| Bank of America | Neutral | Buy | Downgrade | Sep 26, 2018 |
| Dougherty | Buy | Buy | Maintain | Oct 31, 2017 |
| Wells Fargo | Outperform | Outperform | Maintain | May 12, 2017 |
| Wunderlich | Buy | Buy | Maintain | Feb 23, 2017 |
| Pacific Crest | Overweight | Downgrade | Jan 30, 2017 | |
| Brean Capital | Buy | Buy | Maintain | Mar 17, 2015 |
Named analyst price targets
Upside is calculated against the persisted current price $220.99. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| KeyBanc | Analyst unavailable | $280 | $226.28 | +26.7% | Sep 21, 2026 |
| Robert W. Baird | Analyst unavailable | $245 | $216.41 | +10.9% | Aug 6, 2026 |
| Stifel Nicolaus | Brad Reback | $200 | $215.34 | -9.5% | Aug 6, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $195 | $214.53 | -11.8% | Aug 6, 2026 |
| BMO Capital | Analyst unavailable | $208 | $174.8 | -5.9% | Aug 6, 2026 |
| UBS | Analyst unavailable | $270 | $174.8 | +22.2% | Aug 6, 2026 |
| Guggenheim | Jason Smith | $225 | $174.8 | +1.8% | Aug 6, 2026 |
| BTIG | Allan Verkhovski | $230 | $174.8 | +4.1% | Aug 6, 2026 |
| Barclays | Analyst unavailable | $210 | $174.8 | -5.0% | Aug 6, 2026 |
| Jefferies | Analyst unavailable | $160 | $174.8 | -27.6% | Aug 6, 2026 |
| Barclays | Analyst unavailable | $154 | $149.71 | -30.3% | Jul 21, 2026 |
| Deutsche Bank | Analyst unavailable | $140 | $132.94 | -36.6% | May 7, 2026 |
| BTIG | Analyst unavailable | $160 | $133.01 | -27.6% | May 7, 2026 |
| Mizuho Securities | Siti Panigrahi | $130 | $126.32 | -41.2% | May 7, 2026 |
| Barclays | Raimo Lenschow | $148 | $126.32 | -33.0% | May 7, 2026 |
| UBS | Analyst unavailable | $183 | $134.94 | -17.2% | Apr 21, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $115 | $114.54 | -48.0% | Feb 12, 2026 |
| BMO Capital | Analyst unavailable | $137 | $118.6 | -38.0% | Feb 12, 2026 |
| Stifel Nicolaus | Analyst unavailable | $120 | $115.38 | -45.7% | Feb 12, 2026 |
| Barclays | Analyst unavailable | $140 | $115.72 | -36.6% | Feb 12, 2026 |
| Robert W. Baird | Mark Marcon | $183 | $115.68 | -17.2% | Feb 12, 2026 |
| BTIG | Allan Verkhovski | $140 | $118.77 | -36.6% | Feb 12, 2026 |
| KeyBanc | Analyst unavailable | $195 | $118.77 | -11.8% | Feb 12, 2026 |
| Mizuho Securities | Siti Panigrahi | $120 | $118.77 | -45.7% | Feb 12, 2026 |
| Guggenheim | Jacob Smith | $180 | $118.77 | -18.5% | Feb 12, 2026 |
| Jefferies | Analyst unavailable | $130 | $118.77 | -41.2% | Feb 12, 2026 |
| Guggenheim | Analyst unavailable | $210 | $133.95 | -5.0% | Jan 30, 2026 |
| Cantor Fitzgerald | Matthew VanVliet | $135 | $139.65 | -38.9% | Jan 29, 2026 |
| UBS | Kevin McVeigh | $210 | $146.73 | -5.0% | Jan 26, 2026 |
| BMO Capital | Daniel Jester | $175 | $149.49 | -20.8% | Jan 16, 2026 |
| Barclays | Analyst unavailable | $185 | $157.17 | -16.3% | Jan 12, 2026 |
| BTIG | Analyst unavailable | $195 | $162.77 | -11.8% | Dec 16, 2025 |
| UBS | Analyst unavailable | $165 | $161.91 | -25.3% | Nov 6, 2025 |
| Barclays | Analyst unavailable | $225 | $201.09 | +1.8% | Oct 21, 2025 |
| Jefferies | Analyst unavailable | $225 | $199.82 | +1.8% | Oct 13, 2025 |
| Guggenheim | Analyst unavailable | $270 | $214.85 | +22.2% | Sep 25, 2025 |
| UBS | Analyst unavailable | $285 | $213.32 | +29.0% | Sep 16, 2025 |
| KeyBanc | Jason Celino | $290 | $244.82 | +31.2% | Aug 7, 2025 |
| KeyBanc | Analyst unavailable | $245 | $213.02 | +10.9% | Mar 10, 2025 |
| Barclays | Raimo Lenschow | $221 | $207.57 | +0.0% | Jan 23, 2025 |
| BMO Capital | Daniel Jester | $197 | $209.03 | -10.9% | Oct 31, 2024 |
| Piper Sandler | Arvind Ramnani | $191 | $172.25 | -13.6% | Oct 31, 2024 |
| Jefferies | Samad Samana | $175 | $172.25 | -20.8% | Oct 31, 2024 |
| Barclays | Raimo Lenschow | $167 | $166.79 | -24.4% | Aug 1, 2024 |
| Barclays | Raimo Lenschow | $184 | $144.76 | -16.7% | May 31, 2024 |
| Mizuho Securities | Siti Panigrahi | $170 | $171.29 | -23.1% | May 6, 2024 |
| Barclays | Raimo Lenschow | $200 | $150.69 | -9.5% | Nov 1, 2023 |
| Barclays | Analyst unavailable | $336 | $314.91 | +52.0% | Feb 8, 2023 |
| Oppenheimer | Analyst unavailable | $400 | $344.52 | +81.0% | Feb 8, 2023 |
| Piper Sandler | Analyst unavailable | $417 | $344.52 | +88.7% | Feb 8, 2023 |
| MoffettNathanson | Analyst unavailable | $310 | $290.69 | +40.3% | Jan 9, 2023 |
| Citigroup | Steve Enders | $400 | $342.71 | +81.0% | Nov 2, 2022 |
| Wolfe Research | Analyst unavailable | $400 | $352.33 | +81.0% | Aug 4, 2022 |
| BMO Capital | Daniel Jester | $368 | $353.19 | +66.5% | Aug 3, 2022 |
| Credit Suisse | Analyst unavailable | $375 | $348.16 | +69.7% | Aug 3, 2022 |
| Oppenheimer | Analyst unavailable | $375 | $337.86 | +69.7% | Aug 3, 2022 |
| Piper Sandler | Analyst unavailable | $387 | $337.86 | +75.1% | Aug 3, 2022 |
| Barclays | Analyst unavailable | $308 | $309.9 | +39.4% | Jul 18, 2022 |
| Piper Sandler | Analyst unavailable | $361 | $301.83 | +63.4% | Jul 18, 2022 |
| KeyBanc | Josh Beck | $340 | $280.54 | +53.9% | Jun 23, 2022 |
| Jefferies | Analyst unavailable | $335 | $269.82 | +51.6% | May 23, 2022 |
| Needham | Ryan MacDonald | $450 | $328.2 | +103.6% | May 4, 2022 |
| Oppenheimer | Analyst unavailable | $350 | $288.46 | +58.4% | May 4, 2022 |
| Robert W. Baird | Mark Marcon | $440 | $335.01 | +99.1% | Feb 8, 2022 |
| Deutsche Bank | Bhavin Shah | $450 | $335.01 | +103.6% | Feb 8, 2022 |
| Mizuho Securities | Siti Panigrahi | $350 | $335.01 | +58.4% | Feb 8, 2022 |
| KeyBanc | Josh Beck | $400 | $304.67 | +81.0% | Jan 25, 2022 |
| Barclays | Raimo Lenschow | $380 | $328.27 | +72.0% | Jan 20, 2022 |
| Cowen & Co. | Bryan Bergin | $550 | $521.17 | +148.9% | Oct 18, 2021 |
| RBC Capital | Matthew Hedberg | $430 | $341.09 | +94.6% | May 5, 2021 |
Track every rating change on PAYC the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationPaycom Software, Inc., established in 1998 and headquartered in Oklahoma City, Oklahoma, provides a comprehensive, cloud-based human capital management (HCM) platform. This software-as-a-service (SaaS) solution is specifically tailored for small to mid-sized businesses across the United States. It equips organizations with the essential functionality and analytical insights needed to oversee the complete employee journey, from the initial hiring process through to retirement. The robust HCM suite encompasses a wide array of applications across several critical HR domains. For talent acquisition and onboarding, it offers tools such as applicant tracking, candidate management, background checks, seamless onboarding processes, E-Verify compliance, and tax credit services.…
Historical context
All PAYC earningsTechnology peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| ACN Accenture plc | FY2026 Q4 · Calendar Q4 2026 | +3.5% | +15.8% | Accenture: AI demand supports strong Q4, while pricing and geopolitics remain risks |
| JBL Jabil Inc. | FY2026 Q4 · Calendar Q3 2026 | +8.1% | -10.0% | Jabil enters FY2027 with AI-led growth and capacity risks |
| MU Micron Technology, Inc. | FY2026 Q4 · Calendar Q3 2026 | +5.4% | +0.0% | Micron: Strong AI Memory Demand, Higher Capex, and HBM4E Ahead |
| SNX TD Synnex Corp | FY2026 Q3 · Calendar Q3 2026 | +20.9% | -9.9% | TD SYNNEX: AI-led growth accelerates, but mix and cash flow matter |
| ADBE Adobe Inc. | FY2026 Q3 · Calendar Q3 2026 | +0.8% | +1.4% | Adobe raises FY26 outlook as AI strategy broadens |
| ORCL Oracle Corporation | FY2027 Q1 · Calendar Q3 2026 | +10.3% | -1.7% | Oracle raises FY27 outlook as AI demand accelerates cloud growth |
Latest beats and misses
Who reports nextBeat on EPS
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
Get the PAYC recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-04T06:40:41.979824+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-04T06:40:41.976977+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-04. For educational purposes only; not investment advice.