Paycom Software Inc Stock Price, News & Analysis

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.

Paycom Software reported Q3 2022 revenues of $334 million, reflecting a 30.4% increase year-over-year. GAAP net income reached $52 million, or $0.90 per diluted share, compared to $30.4 million in Q3 2021. Non-GAAP net income was $73.4 million, or $1.27 per diluted share. The company had cash reserves of $317.2 million and total debt of $29 million as of September 30, 2022. Looking ahead, Paycom projects Q4 2022 revenues between $366 million and $368 million, with full-year revenues expected between $1.371 billion and $1.373 billion.

The Oklahoma Sports Hall of Fame announced the 12 semifinalists for the 2022 Paycom Jim Thorpe Award, given to the best defensive back in college football. Selection is based on performance, athletic ability, and character. The finalists will be revealed on November 29, with the winner announced during a live presentation on December 8. The award has been sponsored by Paycom Software since May 2017, highlighting the company's commitment to collegiate sports.