Paycom Software PAYC reported first-quarter 2021 results on Tuesday. This online payroll and human resource technology provider’s adjusted earnings of $1.47 per share beat the Zacks Consensus Estimate by 3.52% and rose 10.5% year over year.Paycom Software, Inc. Price, Consensus and EPS Surprise Paycom Software, Inc. price-consensus-eps-surprise-chart | Paycom Software, Inc. QuoteRevenuesThe company generated revenues of $272.2 million, which increased 12.3% from the year-earlier period and surpassed the consensus mark of $271 million. This year-over-year increase was mainly driven by new client additions, which offset the negative impact of lower forms, filings and adjustments due to reduced hiring in COVID-impacted industries.In its earnings conference call, Paycom noted that the 150-bp interest-rate cut in March 2020 that led to an additional weekly recurring revenue loss of $350,000 remained unchanged during the first quarter.MarginsAdjusted gross profit increased 11% from the year-ago period to $236.9 million. However, adjusted gross margin contracted 110 bps on a year-on-year basis to 87%.Paycom Software’s adjusted EBITDA increased 12.8% year on year to $133 million. Further, adjusted EBITDA margin advanced 20 bps to 48.9%Balance Sheet & Cash FlowPaycom Software exited the quarter with cash and cash equivalents of $215.1 million compared with the $151.7 million recorded in the prior year .The company’s balance sheet comprises net long-term debt of $30.5 million compared with the previous quarter’s $30.9 million.Cash from operations was $89.5 million in the quarter.GuidanceFor the second quarter, Paycom Software estimates revenues between $231 million and $233 million.Management projects adjusted EBITDA of $80-$82 million.Zacks Rank & Stocks to ConsiderPaycom currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the broader technology sector include Lam Research Corporation LRCX, Vishay Intertechnology, Inc. VSH and LG Display Co., Ltd. LPL, each sporting a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.Long-term earnings growth rate for Lam Research, Vishay Intertechnology and LG Display is currently projected at 32.8%, 20.26% and 29.8%, respectively.Infrastructure Stock Boom to Sweep AmericaA massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.The only question is “Will you get into the right stocks early when their growth potential is greatest?”Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Lam Research Corporation (LRCX): Free Stock Analysis Report LG Display Co., Ltd. (LPL): Free Stock Analysis Report Vishay Intertechnology, Inc. (VSH): Free Stock Analysis Report Paycom Software, Inc. (PAYC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research