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, Inc. (PAYC) is expanding its automated payroll services into Ireland with the introduction of Beti®, an employee payroll solution. This move follows recent expansions into Canada, Mexico, and the U.K., as well as the launch of Global HCM™. Paycom aims to offer its comprehensive HCM, payroll, and tax filing software to organizations in Ireland, showcasing its commitment to innovative technology and global employee empowerment.
Paycom Software, Inc. reported strong financial results for the first quarter of 2024, with total revenues of $500 million, an increase of 11% from the previous year. GAAP net income was $247 million, representing 49% of total revenues, or $4.37 per diluted share. Non-GAAP net income was $147 million, or $2.59 per diluted share. Adjusted EBITDA was $230 million, 46% of total revenues. The company remains focused on expanding automation capabilities and delivering value to clients.
Paycom Software, Inc. (PAYC) declared a quarterly cash dividend of $0.375 per share of common stock to be paid on June 10, 2024, to stockholders of record as of May 28, 2024.
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