NEW YORK (The Deal) -- Investors in private equity-backed Paycom Software are banking on continued revenue growth as the payroll software provider tries to figure out how to comply with a waived debt covenant and how to improve its lackluster stock performance after a disappointing initial public offering. Paycom sold 6.65 million shares on April 14 priced at $15 each, which was below the expected $18 to $20.
Covenant Trip Overshadows Paycom's Sales Growth
twocents@thestreet.com (Lisa Allen), The Street
Wed, 07/23/2014 - 8:11am
Topics: york the deal investors paycom software dec wall street journal u.s prime edmond okla based kirkpatrick barclays capital inc j.p morgan securities llc pacific crest securities llc canaccord genuity inc nicolaus co jpmorgan hr analysts buyout anderson stowe lp july paycom's pe bloomberg ceo chad richison workday inc automatic data processing inc automatic data processing jonathan marino click payc the the in paycom april the ipo march kirkpatrick bank barclays pacific crest pacific crest securities stifel canaccord welsh carson ipo pe finance covenant sales growth million company market payroll billion firm stake report note loans due stock debt held offering shares price cloud-based cash human quarter underwriters bearing secured holds research estimated interest construction notes long-term resources rate rated
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