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Paycom Software (PAYC) Stock Plunges on Soft Q3 Revenue

NEW YORK (TheStreet) -- Shares of Paycom Software (PAYC) were diving 18.17% to $42.55 on heavy trading volume early Wednesday afternoon after the company reported light revenue for the 2016 third quarter.

After yesterday's closing bell, the Oklahoma City-based human capital management software solution provider posted revenue of $77.3 million, below analysts' forecasts of $76.7 million, according to FactSet.

During the period, revenue rose 40% from last year. But in the 2015 third quarter, revenue surged 51% year-over-year.

Adjusted earnings of 15 cents per...