Paycom Board of Directors Increases Share Repurchase Authorization

Paycom Software Inc. (PAYC) announced on February 13 that its Board of Directors voted to update the current share repurchase program. The amendment authorizes another $100 million for share repurchases and extends the current plan until February 12, 2020. Paycom is a provider of cloud-based human capital management software.

 

Sonal received the news at 8:30 am and issued an alert to subscribers. The next trade took place for $86.85 at 9:29 am. Regular market trading opened at $86.56. The stock price closed at $88.90 and continued to trend higher over the next four trading days. Paycom closed at $95.75 on February 20 for a gain of over 10% after the event.

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