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. provides cloud-based human capital management software for payroll, HR management, talent acquisition, talent management, and time and labor functions. Its platform is built on a single database and uses employee-first automation to manage employment life cycle workflows for organizations in the U.S. and internationally.
Paycom news commonly covers quarterly results, recurring revenue trends, cash dividends, share repurchase activity, product releases, and updates to automation tools such as IWant, Beti, GONE, and Career and Succession Planning. Company updates also include third-party HCM software recognition, client ROI studies, executive appointments, and governance actions tied to its cloud payroll and HR software business.
Paycom Software, Inc. (NYSE:PAYC) has announced an increase and extension of its stock repurchase plan, allowing for $300 million in repurchases from May 14, 2021, to May 13, 2023. This decision reflects Paycom's robust recurring revenue model and strong balance sheet. CEO Chad Richison emphasized the company's long-term growth prospects, noting only a 5% market share in its addressable market, with high demand for its innovative software. Shares may be repurchased in various ways at the Board's discretion, influenced by market conditions and corporate considerations.
Paycom Software, Inc. (NYSE: PAYC) has announced that its Board of Directors rejected the resignation of Frederick C. Peters II, who faced more "withheld" votes than "for" votes during his election at the 2021 Annual Meeting. The nominating committee, after evaluating Peters' seven years on the Board, including his role as lead independent director, recommended retaining him, citing his financial expertise and valuable contributions. Consequently, Peters will continue his role as a Class II director and maintain his positions on various committees, reinforcing leadership continuity at Paycom.
Paycom Software reported strong financial results for Q1 2021, with total revenues of $272.2 million, marking a 12.3% year-over-year increase. Recurring revenues constituted 98.4% of total revenues at $267.8 million. GAAP net income rose to $64.6 million ($1.11 per diluted share), an increase from $63.0 million ($1.08 per diluted share) in Q1 2020. Non-GAAP net income was $85.9 million ($1.47 per diluted share). As of March 31, Paycom maintained $215.1 million in cash, with total debt at $30.5 million. Guidance for Q2 suggests revenues between $231 million and $233 million.
Paycom Software, Inc. (NYSE:PAYC) will announce its first-quarter results on May 4, 2021, after market close. A conference call will follow at 5:00 p.m. ET to discuss the financial results. A replay will be accessible from May 4 to May 11, 2021. Paycom is a leader in cloud-based human capital management software, offering solutions that cover the employment lifecycle from recruitment to retirement, serving clients across all 50 states.
Paycom Software, Inc. (NYSE: PAYC) has appointed Holly Faurot as chief sales officer (CSO), effective April 2, 2021, succeeding Jeff York, who transitions to leadership strategist. Faurot, with 14 years at Paycom, has a proven sales track record and will oversee all sales efforts. CEO Chad Richison expressed confidence in Faurot's leadership abilities. York, with nearly 20 years at Paycom, will focus on developing future leaders. The leadership change aims to sustain sales momentum and improve client relations.
Paycom Software, a leading provider of cloud-based human capital management software, will present virtually at the KeyBanc Emerging Technology Summit on February 24, 2021, at 1:50 p.m. Eastern Time. The event will feature a live webcast, and replays will be available for 90 days. Paycom's software solution offers a comprehensive system for managing the entire employment lifecycle, making it suitable for businesses of all sizes and industries across the U.S.
Paycom Software, Inc. (NYSE: PAYC) reported financial results for Q4 and full year 2020, highlighting total revenues of $220.9 million, a 14.2% increase year-over-year, and full-year revenues of $841.4 million, up 14.1%. GAAP Net Income for Q4 was $24.4 million, down from $45.4 million in the previous year. The company maintained a strong recurring revenue stream, constituting 98.1% of total revenues. Looking ahead, Paycom anticipates revenues between $1.009 billion and $1.011 billion for 2021, aiming for significant growth in a self-service driven market.
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Paycom Software, a prominent provider of cloud-based human capital management software, is set to release its fourth quarter and full-year financial results for 2020 on February 10, 2021, after market close. The earnings call will occur at 5:00 p.m. Eastern Time on the same day. Investors can access the call via dial-in numbers or through a webcast at investors.paycom.com. A replay will be available until February 17, 2021. Paycom supports businesses nationwide with a comprehensive solution that streamlines the employment lifecycle.
Paycom Software, Inc. (NYSE:PAYC) announced its participation in upcoming virtual investor events. The events include:
- RBC Capital Markets Global Technology Conference on November 18, 2020, at 2:40 p.m. ET
- Credit Suisse Annual Technology Conference on December 2, 2020, at 5:30 p.m. ET
- Barclays Global Technology Conference on December 9, 2020, at 1:00 p.m. ET