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 (Nasdaq: PYCR) will announce its financial results for Q1 FY2023, concluding September 30, 2022, after market close on November 2, 2022. A conference call and webcast will follow at 5:00 PM ET the same day to discuss these results. Paycor, a prominent human capital management software provider, services over 29,000 customers, offering solutions that integrate HR functions such as recruiting, onboarding, and payroll. The company emphasizes its commitment to empowering leaders with a unified platform and robust analytics.
Paycor HCM, Inc. (Nasdaq: PYCR) has announced a public offering of 5,000,000 shares, priced at $27.35 each, on behalf of investment funds advised by Apax Partners LLP. The offering includes shares from Pride Feeder, L.P. and AIX Pride Syndication, L.P. Proceeds will not go to Paycor, which will incur costs associated with the sale. The offering is set to close on September 9, 2022. Goldman Sachs & Co. LLC is acting as underwriter. The registration statement has been filed with the SEC and is effective. This press release contains forward-looking statements subject to risks and uncertainties.
Paycor HCM (Nasdaq: PYCR) announced an underwritten public offering of 5 million shares of common stock, primarily on behalf of investment funds advised by Apax Partners LLP. The shares are split between Pride Feeder, L.P. (3.5 million shares) and AIX Pride Syndication, L.P. (1.47 million shares). Paycor won’t receive proceeds from this offering but will incur associated costs. Additionally, 6.9 million shares will be distributed to limited partners before the closing, with 5 million shares offered in this public offering. Goldman Sachs & Co. LLC serves as the underwriter.
Paycor HCM (Nasdaq: PYCR) has launched Paycor Wallet, a mobile feature allowing employees to access earned wages and financial wellness tools. This innovation, developed in partnership with Payactiv, aims to enhance employee financial control with tools such as budgeting and early wage access. Key features include up to two-day early direct deposit, a digital wallet, and no-cost earned wage access for users with direct deposit. The initiative reflects Paycor's commitment to supporting over 125 million US workers living paycheck-to-paycheck.
Paycor HCM reported Q4 FY2022 revenue of $111.0 million, a rise of 26% year-over-year, and full-year revenue of $429.4 million, up 22%. The company expects FY2023 revenue guidance of $510-$516 million, reflecting a projected 20% increase. Operating loss narrowed to $30.1 million in Q4, down from $32.3 million a year prior, with adjusted operating income of $9.2 million. Paycor announced its naming rights for the Bengals stadium and highlighted significant traction with the Developer Portal, marking 148% increase in API usage.
Paycor HCM, a leading provider of human capital management software, announced its participation in two upcoming investor conferences. The first event is the Stifel Tech Executive Summit in Deer Valley, UT, scheduled for August 30, 2022, at 10:00 AM Mountain Time. This will be followed by the Deutsche Bank Technology Conference in Las Vegas, NV, on August 31, 2022, at 4:30 PM Pacific Time. Presentations will be available for live streaming and replay on Paycor’s investor relations website.
Paycor HCM, Inc. (Nasdaq: PYCR) has expanded its partnership with the Cincinnati Bengals by securing naming rights to the Bengals' home stadium, now called Paycor Stadium. This agreement enhances Paycor's visibility and commitment to the Cincinnati community, aligning with their growth strategy post their July 2021 IPO. The partnership demonstrates mutual support as the Bengals aim for continued success, with stadium branding to be unveiled ahead of the season. Paycor has been the official HR software provider for the Bengals since 2018.
Paycor HCM, Inc. (Nasdaq: PYCR) announced the launch of two innovative payroll features: Payroll AutoRun and Intelligent Tax Recommendations, designed to alleviate the administrative challenges associated with payroll processing. These enhancements automate payroll tasks, allowing HR leaders to focus on strategic employee development. The features include automated scheduling for payroll runs and intelligent tax setup recommendations based on employee locations, thus improving accuracy and efficiency in payroll management. These features are now available to all Paycor users.
Paycor HCM, Inc. (Nasdaq: PYCR) will release its financial results for Q4 and fiscal year 2022 on August 23, 2022, after market close. A conference call will be held at 5:00 p.m. ET to discuss these results. Paycor, a firm focused on human capital management, integrates various HR services tailored for leaders, boasting over 29,000 customers. The firm emphasizes modern solutions for recruitment, onboarding, payroll, and talent development.
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