Paycom Software, Inc. Announces Increased Stock Repurchase Plan
Summary
OKLAHOMA CITY--(BUSINESS WIRE)--Paycom Software, Inc. (“Paycom”) (NYSE:PAYC), a leading provider of comprehensive, cloud-based human capital management software, today announced that its Board of Directors has increased and extended its ongoing stock repurchase plan, such that $250 million is available for repurchases between March 13, 2020 and March 12, 2022. “We remain focused on organic growth, and our profitable business model allows us to invest as required to achieve this goal. At the same time, our strong financial position and ability to generate significant cash-flow afford us the opportunity to return value to our stockholders opportunistically through stock buybacks.” Shares may be repurchased from time-to-time in open market transactions at prevailing market prices, in privately negotiated transactions or by other means in accordance with federal securities laws, including Rule 10b5-1 programs, and the repurchase plan may be suspended or discontinued at any time. As a leader in payroll and HR technology, Oklahoma City-based Paycom redefines the human capital management industry by allowing companies to effectively navigate a rapidly changing business environment. Paycom undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.