Paycom Software Inc Stock Price, News & Analysis

Paycom Software reported impressive financial results for the year ended December 31, 2022, achieving total revenues of $1,375 million, a 30% increase year-over-year. The GAAP net income reached $281 million, equating to $4.84 per diluted share, with an adjusted EBITDA of $580 million, representing 42% of total revenues. In Q4 2022, revenues of $371 million marked a 30% growth compared to the previous year. Recurring revenues accounted for 98.2% of total revenues, demonstrating strong client retention. Looking ahead, Paycom anticipates Q1 2023 revenues between $443 million and $445 million, and expects 2023 total revenues to be $1.700 billion to $1.702 billion.

Paycom Software, Inc. (NYSE:PAYC) will announce its fourth-quarter and full-year results for 2022 on February 7, 2023, after market close. A conference call will follow at 5 p.m. Eastern Time, allowing investors to discuss the results. The earnings report will provide insights into the company’s performance and financial health. Paycom, a leader in cloud-based human capital management software, simplifies HR processes through its innovative technology, including its industry-first Beti® solution that empowers employees to manage their own payroll.

The Oklahoma Sports Hall of Fame has announced the three finalists for the 2022 Paycom Jim Thorpe Award, recognizing the best defensive back in college football. The finalists are Tre’Vius Hodges-Tomlinson (TCU), Clark Phillips III (Utah), and Devon Witherspoon (Illinois), representing the Big 12, PAC-12, and Big Ten conferences. The winner will be chosen by the Paycom Jim Thorpe Award National Selection Committee and announced live on December 8, 2022, during The Home Depot College Football Awards. A commemorative banquet will follow on February 7, 2023.

Paycom Software (NYSE:PAYC) has launched the Vault Visa® Payroll Card, allowing employees to access their wages up to two days earlier. This initiative addresses financial concerns during high inflation and offers a competitive advantage for companies to attract talent. The Vault card provides access to electronic payments and 40,000 fee-free ATMs. With features like fraud protection and rewards for cardholders, it simplifies payday processes and enhances employee satisfaction. Paycom aims to streamline payroll management while supporting businesses in a challenging labor market.

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.