Welcome to our dedicated page for Paycom Software news (Ticker: PAYC), a resource for investors and traders seeking the latest updates and insights on Paycom Software stock.
Paycom Software, Inc. (NYSE:PAYC) is a leading provider of cloud-based human capital management (HCM) technology, revolutionizing payroll and HR processes for businesses across the United States. Founded in 1998, Paycom has been at the forefront of online payroll innovation, offering comprehensive software-as-a-service (SaaS) solutions that liberate companies from traditional software constraints.
Headquartered in Oklahoma City, Paycom serves approximately 19,500 clients with employee counts ranging from 50 to 10,000. The company's core offering includes a robust payroll processing system seamlessly integrated with a wide array of HCM tools. These tools encompass time and attendance tracking, talent acquisition, HR management, and talent management, all within a single, easy-to-use online application.
Paycom's technology is designed to streamline and simplify complex HR tasks, improving efficiency and accuracy for businesses of all sizes. The company's growth trajectory has been impressive, fueled by its commitment to providing cutting-edge technology and superior customer service. With 36 sales teams spread across the country, Paycom has a significant presence in all 50 states, enabling it to cater to diverse business needs.
Recent achievements include the launch of new features and enhancements that further integrate and automate HR processes. Paycom is well-positioned for continued growth, thanks to its focus on innovation and customer satisfaction. The company's financial performance has been strong, reflecting its ability to attract and retain a growing client base.
In addition to its core business, Paycom actively forms strategic partnerships and collaborations to expand its offerings and market reach. These partnerships enable Paycom to stay ahead in a competitive landscape and continually deliver value to its customers.
Overall, Paycom Software, Inc. stands as a beacon of innovation in the HCM industry, helping businesses navigate the complexities of payroll and HR management with ease and efficiency.
Paycom Software (NYSE:PAYC) has announced the promotion of Bob Foster to Chief Financial Officer, effective February 21, 2025. Foster, who joined Paycom in 2022, will succeed Craig Boelte, who is retiring after nearly 20 years of leading the company's finance and accounting efforts.
Foster previously served as executive vice president of accounting and finance at Paycom. Before joining the company, he was CEO and chairman of a payroll company for eight years and a senior partner at Ernst & Young. In his new role as CFO, Foster will oversee all accounting and finance functions, focusing on long-term planning, investor relations, and financial strategies.
Boelte, who joined as CFO in 2006, led Paycom's transition from a small private company to an S&P 500 publicly traded company during his tenure, accumulating nearly 40 years of experience in accounting, human resources, and workforce management.
Paycom Software (PAYC) reported strong financial results for Q4 and full-year 2024. Full-year revenues reached $1,883 million, up 11% year-over-year, with GAAP Net Income of $502 million representing 27% of total revenues. Fourth quarter revenues were $494 million, up 14% year-over-year.
The company maintained a 90% annual revenue retention rate and increased its total client count to 37,543, up 2% from the prior year. Paycom stored data for over 7.0 million persons employed by its clients, representing a 3% increase.
Looking ahead to 2025, Paycom expects total revenue between $2.015-2.035 billion (approximately 8% growth at midpoint) and Adjusted EBITDA of $820-840 million. The company remains debt-free with cash and cash equivalents of $402.0 million as of December 31, 2024.
Paycom Software (NYSE: PAYC), a provider of cloud-based human capital management software, has announced a quarterly cash dividend of $0.375 per share of common stock. The dividend will be paid on March 24, 2025, to stockholders of record as of the close of business on March 10, 2025.
Paycom Software (NYSE: PAYC) has scheduled its fourth quarter and year-end 2024 earnings release for February 12, after market close. The company will host a conference call at 5 p.m. Eastern time on the same day to discuss the results.
The conference call will be accessible via phone and webcast at investors.paycom.com. For those unable to attend, a replay will be available from February 12 through February 19. A web-based archive of the call will also be maintained on the company's investor website.
Paycom Software (NYSE: PAYC) has been awarded a BIG Innovation Award for its Time-Off Requests tool featuring GONE®, an automated time-off management system. The feature allows businesses to automate time-off decisions using customizable criteria for approval and denial, ensuring business continuity.
According to a 2024 Forrester Consulting study, GONE has a projected ROI of up to 821% over three years. The system aims to eliminate scheduling errors, reduce staffing shortages, and add accountability to time-off management processes. The innovation was recognized for its process automation capabilities and financial impact, with judges particularly noting Paycom's unique single database that enables seamless integration between GONE and other workforce management tools.
Paycom Software (NYSE: PAYC) has achieved top rankings in Comparably's corporate awards, securing the No. 1 position among large companies for both Best Company Culture and Best Compensation. Additionally, founder and CEO Chad Richison ranked No. 9 in the Best CEOs category.
The company offers comprehensive benefits including $1-per-pay-period individual health insurance, 401(k) matching, paid family leave, $50,000 basic life insurance, and pet insurance. These rankings are based on anonymous employee feedback collected over a 12-month period, evaluating 16 core culture metrics across compensation, career growth, leadership, and work environment categories.
Paycom has also received multiple other Comparably accolades this year, including Best Work-Life Balance, Best Perks & Benefits, Best Company Happiness, Best Company for Career Growth, Best Company Leadership, Best Company Outlook, and Best Sales Team.
Jahdae Barron from The University of Texas at Austin has been named the 2024 Paycom Jim Thorpe Award Winner, recognizing him as the top defensive back in college football. As the leader of the nation's #1 pass defense team, Barron recorded 4 interceptions and 41 tackles in the 2024 regular season. He is the third Longhorns recipient and the first representing the SEC, following Texas's move to the conference in 2024.
Barron secured an impressive 65% of first-place votes nationwide. He demonstrated versatility by playing four positions in the Longhorns backfield and contributed to a defense that ranked top in preventing explosive plays. The award ceremony will take place at the 39th Annual Paycom Jim Thorpe Award Banquet in Oklahoma City on February 4, 2025.
Paycom Software (NYSE: PAYC) has appointed Joe Binz to its board of directors, effective Dec. 10, 2024. Binz, currently serving as CFO at Atlassian, brings over 30 years of financial leadership experience in the technology industry. His background includes significant roles at Microsoft, where he led finance functions and guided cloud transformation, and Intel , where he supported manufacturing operations, product groups, and Intel Capital.
Binz holds a BS in Finance from the University of Illinois Urbana-Champaign and an MBA from the University of Michigan's Ross School of Business. In his current role at Atlassian, he oversees the global finance organization, including accounting, finance, internal audit, investor relations, tax, treasury, and procurement teams.
Paycom Software (NYSE: PAYC), a provider of cloud-based human capital management software, announced its participation in the Barclays Global Technology Conference. The presentation is scheduled for December 11 at 1:55 p.m. Pacific Time in San Francisco. Interested parties can access a live webcast of the presentation through the 'Events' tab on Paycom's investor relations website at investors.paycom.com.
The Oklahoma Sports Hall of Fame has announced the three finalists for the 2024 Paycom Jim Thorpe Award, which recognizes the nation's best defensive backs. The finalists are: Texas cornerback Jahdae Barron (41 tackles, 4 interceptions), Ohio State safety Caleb Downs (51 tackles, 6.5 TFLs), and Georgia safety Malaki Starks (55 tackles, 1 interception). The winner will be announced on The Home Depot College Football Awards on December 12, with the official award presentation taking place in Oklahoma City on February 4, 2025. A fan vote will run from November 26 to December 6, contributing one vote to the final selection.
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