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.
On April 26, 2023, Paycor HCM (Nasdaq: PYCR) announced its acquisition of Verb, a people development platform focusing on behavioral science and microlearning. This strategic acquisition aims to enhance Paycor's human capital management software by integrating Verb's offerings into its new product, Paycor Paths, which will facilitate personalized leadership development.
The acquisition is significant as it addresses a top priority for HR leaders—enhancing leader effectiveness. Verb's platform features over 100 hours of content designed for soft skills training, making it a strong addition to Paycor's capabilities to support organizations in building effective teams.
Paycor HCM, Inc. (Nasdaq: PYCR) announced it will release its financial results for the third quarter of fiscal year 2023, which ended on March 31, 2023, after U.S. markets close on May 10, 2023.
A conference call and webcast will be held the same day at 5:00 p.m. Eastern Time to discuss the results. Investors can dial in at 1-877-407-4018 or access the live and recorded webcast on the Paycor Investor Relations website.
Paycor provides a comprehensive human capital management platform that integrates various HR functions and is trusted by over 30,000 customers for its leadership-focused solutions.
Paycor HCM, Inc. (Nasdaq: PYCR), in collaboration with the Cincinnati Bengals, has launched the "Earn Your Stripes" contest aimed at local minority-owned businesses in the Tri-State area. The contest runs from April 11 to May 17, with a pitch event on June 14 at Paycor Stadium. One winning business will receive a sponsorship package for the 2023 NFL season, providing significant marketing exposure. Eligibility requires businesses to be minority-owned, based in specific counties, have revenues below $5 million, and not hold existing sponsorships in Cincinnati. Paycor and Bengals executives expressed excitement about supporting local innovation and small businesses through this initiative.
Paycor HCM, Inc. (Nasdaq: PYCR) announced on March 10, 2023, that it does not maintain any cash deposits or securities at Silicon Valley Bank, including customers’ funds. This announcement aims to reassure stakeholders regarding the company's financial stability amidst recent banking concerns. Paycor is recognized for its comprehensive human capital management (HCM) platform, focusing on enhancing HR processes such as recruiting, onboarding, and payroll. The company prides itself on serving over 30,000 customers and emphasizes the importance of tailored solutions for leaders in various industries.
CINCINNATI, Feb. 28, 2023 – Paycor HCM, a provider of human capital management software, will participate in the Raymond James 44th Annual Institutional Investors Conference in Orlando, Florida. The presentation is set for Tuesday, March 7, 2023, at 11:35 am Eastern Time.
This event will be webcast live, with replays available under the 'Events & Presentations' section on Paycor’s Investor Relations website. With over 30,000 customers, Paycor focuses on leader-centric solutions, offering a unified HR platform, seamless third-party app integration, and powerful analytics to enhance people management.
Paycor HCM reported Q2 FY2023 revenues of $132.9 million, marking a 29% increase year-over-year. Recurring revenue stood at $125.0 million, up 22%, achieving their target of sustainable 20%+ growth for five consecutive quarters. The company raised its FY2023 revenue guidance by $11 million and adjusted operating income guidance by $10 million. Despite a net loss of $27.5 million, improved adjusted metrics were reported: adjusted operating income of $17.6 million and adjusted net income of $13.6 million. The acquisition of Talenya's AI tech enhances Paycor’s HCM suite.
Paycor HCM, a provider of human capital management software, announced on Feb. 7, 2023, the launch of the COR Leadership Dashboard. This tool aims to enhance leadership effectiveness by providing actionable data on employee engagement and performance. The dashboard integrates real-time insights and evaluates leaders based on three key attributes: Coach, Optimize, and Retain. A new leadership survey within Paycor Pulse collects feedback from employees, processing the data for trends and sentiment analysis. The initiative is in line with Paycor's focus on empowering leaders and optimizing workforce management.
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