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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 has extended its stock repurchase program, increasing the total available for buybacks to $1.1 billion from $550 million for the period between August 15, 2022 and August 15, 2024. CEO Chad Richison stated the move aims to capitalize on market volatility and enhance shareholder value. The timing, number, and value of repurchased shares will depend on market conditions and corporate considerations. This initiative underscores Paycom's strong financial position and commitment to returning value to shareholders.
Paycom Software, a leader in cloud-based human capital management, will participate in key investor events. The KeyBanc Technology Leadership Forum is scheduled for August 9 at 1:30 p.m. in Vail, Colorado, followed by the Citi Global Technology Conference on September 7 at 3:15 p.m. in New York City. Live webcasts of the presentations will be available at investors.paycom.com, with replays accessible for 90 days. Paycom continues to innovate in the HR tech space, aiding businesses in managing their human capital effectively.
Paycom Software reported strong performance in Q2 2022, with total revenues reaching $317 million, a 31% increase year-over-year. GAAP net income was $57 million, or $0.99 per diluted share, while non-GAAP net income was $73 million or $1.26 per diluted share. Adjusted EBITDA stood at $120 million, representing 38% of total revenues. Recurring revenues accounted for 98.3% of total revenues. The company expects Q3 2022 revenues between $327 million and $329 million and full-year revenues of $1.354 billion to $1.356 billion.
The Paycom Jim Thorpe Award Preseason Watchlist has been released, highlighting 35 top defensive backs from various college conferences. Selected by a screening committee, the watchlist will evolve with the season's performance. Semifinalists will be announced on October 24, 2022, leading to three finalists who will be voted on by a national panel. The award, established in 1986 and sponsored by Paycom, honors the best defensive back in college football. The winner will be revealed live on ESPN during The Home Depot College Football Awards.
Paycom Software, Inc. (NYSE:PAYC) will announce its second-quarter results for the period ending June 30, 2022, after market close on August 2, 2022. Following the release, a conference call will take place at 5 p.m. Eastern Time, accessible by phone or via the webcast on the Paycom investor relations website. A replay of the call will be available from August 2 through August 9, 2022.
As a leader in payroll and HR technology, Paycom offers a comprehensive, cloud-based human capital management software solution.
Paycom Software has announced an increase in its stock repurchase program, now totaling $550 million available for repurchases until June 7, 2024. This marks an increase from the prior $166.8 million available. CEO Chad Richison emphasized the flexibility it provides to return value to shareholders amid market dislocations, citing strong cash flow and a positive outlook for growth. The repurchase can occur through various means, depending on market conditions.
Paycom Software (NYSE:PAYC) announced its participation in two upcoming investor events. The Jefferies Software Conference is set for June 2 at 1 p.m. PT in San Francisco, while the Baird Global Consumer, Technology & Services Conference will take place on June 7 at 2:35 p.m. ET in New York City. Live webcasts of the presentations will be available on investors.paycom.com and can be rewatched for 90 days post-event. Paycom specializes in cloud-based human capital management software, catering to clients across all industries in all 50 states.
Paycom Software has appointed Felicia Williams to its board of directors as a Class II director. With over 30 years of experience in finance, Williams previously served as senior vice president of finance at Macy's and held various leadership roles there since 2004. She is a licensed CPA and has extensive experience in audit and corporate financial leadership from her time at Coca-Cola and Bristol Myers Squibb. Paycom's CEO, Chad Richison, praised her expertise in enhancing the board's strength.
Paycom Software (PAYC) reported robust financial results for Q1 2022, with total revenues of $354 million, marking a 30% increase from the previous year. GAAP net income reached $92 million, or $1.58 per diluted share, while non-GAAP net income was $111 million, or $1.90 per diluted share. Adjusted EBITDA stood at $170 million, representing 48% of total revenues. The company’s recurring revenues accounted for 98.5% of total revenues. Paycom forecasts revenues of $308 million to $310 million for Q2 2022 and $1.333 billion to $1.335 billion for the full year.
Paycom Software, Inc. (NYSE:PAYC) is set to release its first-quarter earnings results on May 3, 2022, after market close. Following the announcement, a conference call is scheduled for 5 p.m. (Eastern time) on the same day to discuss the results in detail. Investors can access the conference call via dial-in numbers or through a webcast on Paycom's investor relations website. A replay will be available from May 3 to May 10. Paycom is recognized for its innovative cloud-based human capital management solutions, serving clients across all 50 states.
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