Paycom Software Inc - PAYC STOCK NEWS

Paycom Software, Inc. (NYSE:PAYC) has been awarded the 2021 Top HR Product title for its innovative product, Beti, by Human Resource Executive magazine at the HR Technology Conference. This recognition marks Paycom's third consecutive year receiving honors for its technology solutions. Beti allows employees to manage their own payroll, enhancing accuracy and reducing costly corrections. By empowering employees to oversee their payroll data, Paycom aims to improve overall HR efficiency and employee satisfaction.

Paycom Software, Inc. (NYSE: PAYC) has appointed Sharen Jester Turney to its board of directors as a Class I director, succeeding Janet Brutschea Haugen. Turney, with over 30 years of experience, is recognized for her leadership roles at Gloria Jeans and Victoria’s Secret. Her appointment, effective Sept. 28, 2021, is expected to enhance Paycom's strategic direction, particularly in technology adoption. Turney’s background in ecommerce aligns with Paycom’s innovation-driven ethos. The company is poised for growth, leveraging its unique offerings to redefine human capital management in the evolving business landscape.

Paycom Software, Inc. (NYSE:PAYC) has updated its cost estimates for manual data entry and HR tasks via its Direct Data Exchange (DDX) tool, showing an increase from $4.51 to $4.70 per entry according to Ernst & Young. DDX, launched in 2019, helps businesses track HR technology usage and ROI, indicating a continuing rise in HR task costs since 2018. The cost can reach up to $19.77 for specific entries. DDX empowers clients to optimize employee engagement with HR technology, enhancing overall efficiency.

Paycom Software, Inc. (NYSE:PAYC), a leader in cloud-based human capital management software, will participate in the Jefferies Virtual Software Conference on September 15 at 3:30 p.m. Eastern. A live webcast of the presentation can be accessed at investors.paycom.com. The replay will be available for 90 days after the event. Paycom serves clients across all 50 states, providing comprehensive solutions for the entire employment life cycle.

Paycom Software (NYSE:PAYC) will present at the Oppenheimer 24th Annual Technology, Internet & Communications Conference on August 10, 2021, at 2:55 p.m. Eastern Time. The virtual presentation aims to showcase Paycom's cloud-based human capital management software, which supports businesses through the entire employment life cycle. A live webcast will be available at investors.paycom.com, with replays accessible for 90 days post-event. Paycom serves clients across all 50 states, offering solutions tailored for various industries.

Paycom Software (NYSE: PAYC) reported strong Q2 2021 results, with total revenues of $242.1 million, a 33.3% increase year-over-year. Recurring revenues reached $237.6 million, constituting 98.1% of total revenues. GAAP net income was $52.3 million or $0.90 per diluted share, up from $28.6 million in the prior year. Non-GAAP net income stood at $56.5 million with Adjusted EBITDA at $87.0 million. As of June 30, 2021, cash and cash equivalents were $202.4 million with total debt of $30.0 million. Guidance for Q3 2021 revenues is $249 million to $251 million.

Paycom and the Oklahoma City Thunder have entered into a 15-year naming rights partnership, renaming the Thunder's home arena to Paycom Center. Effective immediately, the name change will enhance community engagement and visibility for Paycom, one of Oklahoma's largest companies with a market cap of approximately $23 billion. The agreement includes prominent signage placements throughout the arena, with updates expected ahead of the 2021-22 season. Paycom’s commitment to supporting local initiatives and the Thunder's fan experience is emphasized by both parties.

The Oklahoma Sports Hall of Fame and the Jim Thorpe Association announced the 2021 Paycom Jim Thorpe Award Preseason Watch List, featuring 40 top defensive backs from 10 conferences and one independent. The selection process involves a committee that may adjust the list as the season progresses based on player performance. Key dates include the announcement of semifinalists on October 25, 2021, and the award presentation at the Home Depot College Football Awards Show. The Paycom Jim Thorpe Award honors the best defensive back in college football, with a strong legacy since its inception in 1986.

Paycom Software, Inc. (NYSE:PAYC) will announce its second-quarter results on August 3, 2021, after market close. A conference call is scheduled for 5:00 p.m. Eastern Time to discuss the findings. Investors can access the call through dial-in numbers: 1 (833) 233-4461 or for international callers, 1 (647) 689-4140. The replay will be available until August 10, 2021. With its cloud-based human capital management solutions, Paycom serves clients across various industries in all 50 states, streamlining processes from recruitment to retirement.