Welcome to our dedicated page for Paycor HCM news (Ticker: PYCR), a resource for investors and traders seeking the latest updates and insights on Paycor HCM stock.
Paycor HCM, Inc. (Nasdaq: PYCR) is a leading provider of payroll and human capital management (HCM) solutions, primarily serving small and midsize clients across the United States. Paycor operates on a software-as-a-service (SaaS) model, offering a comprehensive suite of HCM tools that streamline and enhance people management processes. The company's platform includes core payroll functionality, talent management, time and attendance software, third-party integration capabilities, and industry-specific configurations, making it a versatile solution for a variety of businesses.
Targeting organizations with 10 to 1,000 employees, Paycor's customer base exceeded 30,000 as of June 2023. This substantial customer base underscores the firm's reliability and effectiveness in aiding businesses to manage their human resources efficiently. Paycor's platform not only modernizes recruiting, onboarding, and payroll but also focuses on career development and retention, creating a holistic approach to HCM.
In recent news, Paycor announced a significant 20% year-over-year revenue growth for the second quarter of fiscal year 2024, ending December 31, 2023. This growth was driven by successful up-market expansion and increased adoption of their Embedded HCM Solution. The company also reported improvements in operational margins, reflecting effective cost management alongside strategic investments in analytics and talent development tools.
Paycor's commitment to customer-centric innovation was showcased during their inaugural customer conference, Paycor Connect+ 2024, held in Cincinnati. The event focused on equipping business leaders with the knowledge and tools necessary to navigate evolving HR landscapes, featuring over 30 educational sessions, insightful keynote speakers, and networking opportunities.
Looking ahead, Paycor continues to innovate with new product releases like COR Space and Paycor Skills, which are designed to enhance cross-functional collaboration and address skills gaps within organizations. These tools leverage artificial intelligence to streamline communication and manage workforce skills, thus boosting productivity and reducing recruitment costs.
With a robust platform and a forward-thinking approach, Paycor remains a significant player in the HCM industry, continuously evolving to meet the needs of its clients and drive business success.
Paycor HCM, Inc. (Nasdaq: PYCR) unveiled a new feature in its Paycor Analytics tool, which offers predictive analysis on employee turnover. This functionality assists HR and business leaders in identifying at-risk employees and understanding factors driving potential resignations. A Gallup study indicates over 50% of employees are seeking new roles, highlighting the need for tools to mitigate turnover. The predictive metrics allow for data-driven discussions focused on retention strategies. Paycor's partnership with Visier enhances this offering, marking a significant advancement in workforce analytics.
Paycor HCM, Inc. (NASDAQ: PYCR) reported impressive Q1 fiscal 2022 results, with total revenue increasing to $92.7 million, a 17% year-over-year growth. Recurring revenue reached $92.4 million, marking an 18% increase. However, the company faced an operating loss of $52.3 million compared to $21.5 million in the prior year. The adjusted operating income stood at $3.4 million, down from $12.7 million. Looking ahead, Paycor expects Q2 revenues between $99.0 million and $100.0 million and aims for fiscal 2022 revenues of $402.0 million to $406.0 million.
Paycor HCM, Inc. (Nasdaq: PYCR) will release its financial results for the first quarter of fiscal 2022 on November 9, 2021, after market close. The results will cover the period ended September 30, 2021. A conference call and webcast will be held the same day at 5:00 p.m. ET for discussion of these results. Interested participants can join by dialing (855) 327-6837 domestically or (631) 891-4304 internationally. A live webcast will also be accessible on Paycor’s Investor Relations website.
Paycor HCM, Inc. (NASDAQ: PYCR) announced the pricing of a public offering of 12,000,000 shares at $32.00 each by selling stockholders. The underwriters have a 30-day option to purchase an additional 1,800,000 shares. The offering is expected to close on October 19, 2021, subject to customary conditions. Paycor will not receive any proceeds from this sale. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC lead the offering, alongside several other firms. The offering is conducted under an effective registration statement with the SEC.
Paycor HCM, Inc. (NASDAQ: PYCR) has announced a public offering of 12,000,000 shares of common stock by selling stockholders, with a potential additional 1,800,000 shares available through underwriters. The offering is subject to market conditions and Paycor will not receive any proceeds from it. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are joint book-running managers for the offering. A registration statement has been filed with the SEC but is not yet effective, meaning shares cannot be sold until it is approved.
Paycor HCM has appointed Swati Garodia as the new Chief Strategy Officer. Charged with identifying future growth opportunities, her role will focus on market segmentation, geographic expansion, and strategic partnerships. Swati brings a wealth of experience from Thomson Reuters and a track record in B2B software. CEO Raul Villar, Jr. expressed excitement over her addition, emphasizing her potential to refine Paycor's strategy in the evolving HR technology landscape. Paycor aims to lead in this sector post-Covid-19, supported by a robust product portfolio.
Paycor has launched a new Immunization Tracker as part of its HCM solution, enabling businesses to manage employee vaccination and testing compliance. This tool allows employees to upload proof of vaccination or negative COVID tests, facilitating reporting and organizational compliance with new federal mandates affecting 80 million workers. The tracker will be available to all Paycor customers starting October 1, 2021, positioning Paycor among the first HCM providers to integrate such a feature.
Paycor HCM, Inc. (NASDAQ: PYCR) announces participation in the Jefferies Virtual Software Conference on September 14, 2021, at 4:00 p.m. ET. CEO Raul Villar and CFO Adam Ante will present, with the session available for limited replay on Paycor's investor relations website.
Paycor offers Human Capital Management software tailored for business leaders, emphasizing efficient people management and powerful analytics. Over 28,000 customers trust Paycor for effective HR solutions.
Paycor HCM announced strong financial results for Q4 and FY21, reporting $88.0 million in total revenue, a 20% increase year-over-year. Q4 recurring revenue reached $87.6 million, up 21%. Total bookings surged to $31.2 million, marking a 79% increase. Despite growth, the company posted a net loss of $32.8 million in Q4. The successful IPO raised $458.7 million, aiding in debt repayment. Looking ahead, FY22 guidance estimates revenue between $396.0 million and $400.0 million.
Paycor HCM, Inc. (Nasdaq: PYCR) will disclose its fourth quarter and fiscal 2021 financial results on August 31, 2021, post-market close. A conference call and webcast will take place at 5:00 p.m. ET on the same day to review these results. Interested parties can join the call by dialing (877) 407-4018 domestically or (201) 689-8471 internationally, using conference ID 13722470. More than 28,000 customers rely on Paycor’s Human Capital Management software to enhance HR processes and analytics, showcasing the company's commitment to improving people management.
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