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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, Inc. (NYSE: PAYC) has been recognized for its positive workplace culture and outstanding benefits by employee review platform Comparably. The company ranked No. 5 among large companies for both happiest employees and best perks & benefits in the U.S. and Canada. Paycom was also listed for best work-life balance.
Paycom offers generous benefits including $1-per-pay-period individual health insurance, 401(k) with generous matching, paid family leave, and pet insurance. The company's founder, CEO, and chairman, Chad Richison, emphasized their focus on creating the best employee experience.
Comparably Awards are based on anonymous employee feedback over a 12-month period. Paycom has previously earned accolades for Best Company for Career Growth, Best Company Leadership, Best Company Outlook, and Best Sales Team.
Paycom Software (NYSE: PAYC), a leading provider of cloud-based human capital management software, has been named to TIME’s World’s Best Companies 2024 list. CEO Chad Richison highlighted the significance of this recognition, attributing it to Paycom’s investments in automation, international expansion, and value propositions for global businesses. The list considers companies with a revenue of at least $100 million in 2023 and positive growth from 2021 to 2023, evaluating employee satisfaction, revenue growth, and sustainability.
Paycom has extended its software services to Canada, Mexico, the UK, and Ireland. Notable offerings include Beti®, an employee payroll solution, and GONE®, an automated time-off request feature. Additionally, Paycom emphasizes creating a safe and inclusive workplace, community support, and environmental sustainability. TIME also acknowledged Paycom on its America’s Best Mid-Sized Companies 2024 list.
Paycom Software, Inc. (NYSE: PAYC) has been recognized for its innovative HR technology, with its automated time-off request tool GONE® named a Top HR Product of 2024 by Human Resource Executive magazine. GONE, integrated into Paycom's Time-Off Requests tool in December 2023, automates time-off management using policy-compliant decisioning to enhance fairness, timeliness, and regulatory compliance.
The tool approves or denies requests based on predefined rules, including coverage thresholds and submission time requirements. According to a November 2023 Ernst & Young study, each manual time-off review can cost companies an average of $30.92, which GONE aims to eliminate. This recognition follows Paycom's previous awards for Beti® in 2021 and Manager on-the-Go® in 2020.
Paycom Software, Inc. (NYSE: PAYC) has announced an increase and extension of its stock repurchase plan. The board of directors has authorized $1.5 billion for repurchases through Aug. 15, 2026, up from the previous $676 million available. CEO Chad Richison highlighted Paycom's leading product, resilient business model, and strong balance sheet with no debt. The company has already repurchased approximately 2.3 million shares (4% of the company) since July 2022 for about $413 million. Paycom will continue to opportunistically buy back stock at attractive valuations relative to peers. The repurchase plan's timing, number, and value of shares will be determined by a board committee, considering market conditions and other factors.
Paycom Software, Inc. (NYSE: PAYC) reported strong Q2 2024 financial results, with total revenues reaching $437.5 million, a 9.1% increase year-over-year. The company's GAAP Net Income was $68.0 million, or $1.20 per diluted share, while Non-GAAP Net Income stood at $91.8 million, or $1.62 per diluted share. Adjusted EBITDA rose to $159.7 million, representing 36% of total revenues.
Paycom's recurring revenues, constituting 98.4% of total revenues, grew by 9.1% compared to the previous year. The company maintains a strong financial position with $346.5 million in cash and cash equivalents and zero debt. For Q3 2024, Paycom expects total revenues between $444-$449 million and projects full-year 2024 revenues in the range of $1.860-$1.875 billion.
The Oklahoma Sports Hall of Fame and Jim Thorpe Association have unveiled the 2024 Paycom Jim Thorpe Award Preseason Watch List, featuring 42 top defensive backs from nine conferences and one independent university. The list, compiled by a screening committee, is based on previous NCAA Division I performance and preseason All-America lists. Notable players include Billy Bowman Jr. (Oklahoma), Caleb Downs (Ohio State), and Travis Hunter (Colorado).
The Paycom Jim Thorpe Award, established in 1986, honors the best defensive back in college football. Key dates include semifinalist announcement on October 29, finalists on November 26, and the winner reveal on December 12 during The Home Depot College Football Awards. The 2023 winner, Trey Taylor from Air Force, was drafted by the Las Vegas Raiders in the 2024 NFL Draft.
Paycom Software, Inc. (NYSE: PAYC), a leading 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 September 9, 2024, to stockholders of record as of the close of business on August 26, 2024. This announcement demonstrates Paycom's commitment to returning value to its shareholders and reflects the company's financial stability and confidence in its business model.
Paycom Software, Inc. (NYSE: PAYC) has appointed Archana Vemulapalli to its board of directors, effective July 30, 2024. Vemulapalli brings over 23 years of technology leadership experience, currently serving as corporate vice president of Global Commercial Sales and leading Global System Integrator alliances at AMD. Her previous roles include management positions at Amazon Web Services and IBM, as well as serving as chief technology officer for the Washington, D.C. government.
Paycom's founder and CEO, Chad Richison, highlighted Vemulapalli's unique skill set, which is expected to help the company leverage up-market opportunities and drive solution automation for clients. Vemulapalli expressed excitement about joining the high-growth company and contributing to its innovative technology initiatives.
BetterInvesting Magazine's Editorial Advisory and Securities Review Committee has announced Paycom Software Inc. (NYSE: PAYC) as its 'Stock to Study' and Lamb Weston Holdings Inc. (NYSE: LW) as its 'Undervalued Stock' for the October 2024 issue. The committee, comprised of certified financial analysts, aims to provide investors with informational and educational resources for stock selection and analysis.
The announcement comes amid record-breaking market highs, with BetterInvesting CEO Ken Zendel emphasizing the importance of evaluating individual company fundamentals and reviewing portfolio risk. Investors can access more details about these stocks in the October 2024 issue of BetterInvesting Magazine, with non-members able to use a trial version of BetterInvesting's online tools to study the investment potential of both companies.
Paycom, a leading provider of cloud-based human capital management software, has been named among America’s Best Mid-Size Companies for 2024 by TIME. Paycom was acknowledged for its innovation, employee benefits, and corporate social responsibility. The recognition considers companies operating in the U.S. with $100 million to $10 billion in revenue in 2022 or 2023. The evaluation was based on employee satisfaction, revenue growth, and sustainability transparency. Paycom’s commitment to a supportive work environment, community engagement, and environmental sustainability were key factors in its selection. This honor comes after Paycom received accolades for Best Company for Career Growth and Best Leadership Teams by Comparably.
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