Paycor Hcm, Inc. Stock Price, News & Analysis

Paycor reported Q1 FY2023 revenue of $118.3 million, a 28% increase year-over-year, with recurring revenue of $114.2 million, up 24%. Adjusted net income was $8.2 million, up from $2.3 million in the previous year. The company raised its FY2023 revenue guidance to $528-$534 million, reflecting a 24% growth at the upper end. Paycor acquired Talenya, enhancing its talent solutions, and launched the COR Leadership Framework to support frontline leaders.

Paycor HCM, Inc. (Nasdaq: PYCR) announced the appointment of Jeremy Rishel to its Board of Directors, effective immediately after the Annual Meeting of Stockholders on October 26, 2022. Rishel, currently the Chief Technology Officer at SoFi, has nearly 30 years of technology experience, particularly in cybersecurity. His background is expected to support Paycor's growth in the fintech and software-as-a-service sectors. Paycor’s platform focuses on human capital management, emphasizing integrated HR solutions and analytics, currently serving over 29,000 customers.

Paycor HCM, a leader in human capital management software, introduced the COR Leadership Framework on October 27, 2022, aimed at enhancing frontline leaders' effectiveness. This framework, developed with proprietary data and research, focuses on empowering leaders to build accountable and engaged teams. Key strategies include Coaching, Optimizing, and Retaining talent. Recent surveys indicate a significant number of employees are considering resignations due to toxic cultures, underscoring the need for effective leadership in attracting and retaining talent.

Paycor HCM (Nasdaq: PYCR) announced its acquisition of Talenya, an AI-driven recruiting platform, aimed at enhancing its human capital management solutions. This acquisition is set to streamline the hiring process, allowing customers to fill critical roles more quickly and affordably. Talenya's technology focuses on sourcing both active and passive candidates, aligning with Paycor's commitment to diversity and inclusion in recruitment. The integrated solution is expected to launch in Q1 2023, further solidifying Paycor's strategic differentiation in the competitive labor market.

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.