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Paycom Software raises FY'16 outlook

PaycomSoftware Inc. now expects total revenues of $320 million to $322million and adjusted EBITDA of $73 million to $75 million for full year 2016.

Previously, the company estimated total revenues of $309 million to $311 millionand adjusted EBITDA of $63 million to $65 million for the same period.

For the second quarter, Paycom expects total revenues of $69million to $71 million and adjusted EBITDA of $14 million to $16 million,according to a May 3 news release.

The company reported first-quarter GAAP net income of $18.6million, or 31 cents per share, compared with $6.0 million, or 11 cents pershare, in the prior-year period. Non-GAAP net income was $19.4 million, or 33cents per share, compared with $6.7 million, or 12 cents per share, in theyear-ago period.

The S&P Capital IQ consensus normalized EPS estimate forthe quarter was 20 cents.