Paycom Software, Inc. (NYSE:PAYC) shares rose 14% today following the company’s strong Q1 results, with EPS coming in at $1.90, above the Street estimate of $1.75. Revenue was $354 million, compared to the Street estimate of $343.14 million.

According to the analystS at Deutsche Bank, the company continues to execute against the secular opportunity from a go-to-market and product perspective, both of which helped drive more than 30% revenue growth during the quarter.

Revenue guidance was equally strong and implies the company can very likely achieve over 30% growth both in Q2 and the full year, deflating the bear thesis around growth deceleration as the comparisons get more challenging.

The analysts also anticipate improving productivity in new sales offices along with increasing float revenue to drive further upside.