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.
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.
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.
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