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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) will announce its fourth-quarter and full-year results for 2022 on February 7, 2023, after market close. A conference call will follow at 5 p.m. Eastern Time, allowing investors to discuss the results. The earnings report will provide insights into the company’s performance and financial health. Paycom, a leader in cloud-based human capital management software, simplifies HR processes through its innovative technology, including its industry-first Beti® solution that empowers employees to manage their own payroll.
The Oklahoma Sports Hall of Fame has announced the three finalists for the 2022 Paycom Jim Thorpe Award, recognizing the best defensive back in college football. The finalists are Tre’Vius Hodges-Tomlinson (TCU), Clark Phillips III (Utah), and Devon Witherspoon (Illinois), representing the Big 12, PAC-12, and Big Ten conferences. The winner will be chosen by the Paycom Jim Thorpe Award National Selection Committee and announced live on December 8, 2022, during The Home Depot College Football Awards. A commemorative banquet will follow on February 7, 2023.
Paycom Software (NYSE:PAYC) has launched the Vault Visa® Payroll Card, allowing employees to access their wages up to two days earlier. This initiative addresses financial concerns during high inflation and offers a competitive advantage for companies to attract talent. The Vault card provides access to electronic payments and 40,000 fee-free ATMs. With features like fraud protection and rewards for cardholders, it simplifies payday processes and enhances employee satisfaction. Paycom aims to streamline payroll management while supporting businesses in a challenging labor market.
According to a recent Morning Consult poll commissioned by Paycom Software (NYSE:PAYC), payroll errors affect nearly 20% of American adults, prompting significant financial actions. The survey of 2,210 adults revealed that 82% would struggle with bills if over $500 was missing from their paycheck. Additionally, 58% would face difficulties with just $100 missing. Paycom's Beti solution aims to reduce payroll mistakes by enabling employees to identify and correct errors before payday. The findings highlight the critical impact of accurate payroll on employee satisfaction and financial stability.
Paycom Software (NYSE:PAYC), a leader in cloud-based human capital management solutions, announced its participation in two upcoming investor events. The first is the Credit Suisse 26th Annual Technology Conference on November 30, 2022, at 2:20 p.m. (MT) in Scottsdale, Arizona. The second event is the Barclays Global Technology, Media and Telecommunications Conference on December 7, 2022, at 2:30 p.m. (PT) in San Francisco. Live webcasts will be available on their investor relations website and will remain accessible for 90 days post-event.
Paycom Software reported Q3 2022 revenues of $334 million, reflecting a 30.4% increase year-over-year. GAAP net income reached $52 million, or $0.90 per diluted share, compared to $30.4 million in Q3 2021. Non-GAAP net income was $73.4 million, or $1.27 per diluted share. The company had cash reserves of $317.2 million and total debt of $29 million as of September 30, 2022. Looking ahead, Paycom projects Q4 2022 revenues between $366 million and $368 million, with full-year revenues expected between $1.371 billion and $1.373 billion.
The Oklahoma Sports Hall of Fame announced the 12 semifinalists for the 2022 Paycom Jim Thorpe Award, given to the best defensive back in college football. Selection is based on performance, athletic ability, and character. The finalists will be revealed on November 29, with the winner announced during a live presentation on December 8. The award has been sponsored by Paycom Software since May 2017, highlighting the company's commitment to collegiate sports.
Paycom Software, Inc. (NYSE:PAYC) will announce its third-quarter financial results for the period ending September 30, 2022, on November 1, following market closure. A conference call to discuss these results is scheduled for 5 p.m. ET, with a webcast available on the company’s investor relations page. A replay will be offered from November 1 to November 7. Paycom, a leading provider of cloud-based human capital management software, serves clients across all 50 states, offering solutions throughout the entire employment life cycle.
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