Paycom Software Inc Stock Price, News & Analysis

Paycom Software (NYSE: PAYC) released a Forrester Consulting study highlighting the benefits of their Time-Off Requests featuring GONE® automation tool. The study projects an 821% ROI over three years for a composite organization using the system. Key benefits include saving managers nearly one workweek annually, HR staff almost five workweeks, and up to six workweeks of avoided overtime through improved staffing. The automated system manages employee time-off requests through configurable rules, reducing bias and expediting decisions while ensuring compliance with company policies.

Paycom Software reported Q3 2024 financial results with revenues of $451.9 million, up 11.2% year-over-year. Recurring revenues increased 11.6% to $445.0 million, representing 98.5% of total revenues. GAAP Net Income was $73.3 million ($1.31 per diluted share), compared to $75.2 million in Q3 2023. Adjusted EBITDA reached $171.3 million. The company maintains zero debt and holds cash and equivalents of $325.8 million. For Q4 2024, Paycom expects revenues between $477-484 million and full-year 2024 revenues of $1.866-1.873 billion.

Oklahoma Sports Hall of Fame and Jim Thorpe Association have announced the 15 semifinalists for the 2024 Paycom Jim Thorpe Award, representing seven conferences and one independent university. The award recognizes the best defensive back in college football based on field performance, athletic ability, and character. The selection process includes a screening committee that will choose three finalists, to be announced on November 26. The winner will be revealed during The Home Depot College Football Awards on December 12, with the official award presentation scheduled for February 4, 2025, in Oklahoma City.

Paycom Software (NYSE: PAYC) has announced a quarterly cash dividend of $0.375 per share of common stock. The dividend will be paid on December 9, 2024, to stockholders of record at the close of business on November 25, 2024. Paycom is a leading provider of comprehensive, cloud-based human capital management software.

Paycom Software, Inc. (NYSE: PAYC), a leading provider of comprehensive, cloud-based human capital management software, has announced its upcoming third quarter 2024 earnings release and conference call. The company will release its financial results for the quarter ended Sept. 30, 2024, after the market closes on Oct. 30. A conference call to discuss the results is scheduled for 5 p.m. Eastern on the same day.

Interested parties can join the call using the provided dial-in numbers and access code. For those unable to participate, a replay will be available from Oct. 30 through Nov. 6. Additionally, a web-based archive of the conference call will be accessible on the company's investor relations website.

Paycom Software, Inc. (NYSE: PAYC) has been recognized for its positive workplace culture and outstanding benefits by employee review platform Comparably. The company ranked No. 5 among large companies for both happiest employees and best perks & benefits in the U.S. and Canada. Paycom was also listed for best work-life balance.

Paycom offers generous benefits including $1-per-pay-period individual health insurance, 401(k) with generous matching, paid family leave, and pet insurance. The company's founder, CEO, and chairman, Chad Richison, emphasized their focus on creating the best employee experience.

Comparably Awards are based on anonymous employee feedback over a 12-month period. Paycom has previously earned accolades for Best Company for Career Growth, Best Company Leadership, Best Company Outlook, and Best Sales Team.

Paycom Software (NYSE: PAYC), a leading provider of cloud-based human capital management software, has been named to TIME’s World’s Best Companies 2024 list. CEO Chad Richison highlighted the significance of this recognition, attributing it to Paycom’s investments in automation, international expansion, and value propositions for global businesses. The list considers companies with a revenue of at least $100 million in 2023 and positive growth from 2021 to 2023, evaluating employee satisfaction, revenue growth, and sustainability.

Paycom has extended its software services to Canada, Mexico, the UK, and Ireland. Notable offerings include Beti®, an employee payroll solution, and GONE®, an automated time-off request feature. Additionally, Paycom emphasizes creating a safe and inclusive workplace, community support, and environmental sustainability. TIME also acknowledged Paycom on its America’s Best Mid-Sized Companies 2024 list.

Paycom Software, Inc. (NYSE: PAYC) has been recognized for its innovative HR technology, with its automated time-off request tool GONE® named a Top HR Product of 2024 by Human Resource Executive magazine. GONE, integrated into Paycom's Time-Off Requests tool in December 2023, automates time-off management using policy-compliant decisioning to enhance fairness, timeliness, and regulatory compliance.

The tool approves or denies requests based on predefined rules, including coverage thresholds and submission time requirements. According to a November 2023 Ernst & Young study, each manual time-off review can cost companies an average of $30.92, which GONE aims to eliminate. This recognition follows Paycom's previous awards for Beti® in 2021 and Manager on-the-Go® in 2020.

Paycom Software, Inc. (NYSE: PAYC) has announced an increase and extension of its stock repurchase plan. The board of directors has authorized $1.5 billion for repurchases through Aug. 15, 2026, up from the previous $676 million available. CEO Chad Richison highlighted Paycom's leading product, resilient business model, and strong balance sheet with no debt. The company has already repurchased approximately 2.3 million shares (4% of the company) since July 2022 for about $413 million. Paycom will continue to opportunistically buy back stock at attractive valuations relative to peers. The repurchase plan's timing, number, and value of shares will be determined by a board committee, considering market conditions and other factors.