Paycom Software, Inc. Announces Increased Stock Repurchase Plan
February 13, 2018 08:30 AM Eastern Standard Time
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 amended its ongoing stock repurchase plan to add $100,000,000 of availability and extend the expiration date of the stock repurchase plan to February 12, 2020.
“Today’s increase in our repurchase program further underscores our confidence in the strength of our business and our long-term growth prospects”
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“Today’s increase in our repurchase program further underscores our confidence in the strength of our business and our long-term growth prospects,” said Paycom’s founder and CEO, Chad Richison. “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. The actual timing, number and value of shares repurchased will be determined by a committee of the Board of Directors at its discretion and will depend on a number of factors, including the market price of Paycom’s common stock, general market and economic conditions and other corporate considerations.
Paycom Software, Inc. Announces Increased Stock Repurchase Plan | Business Wire
