Welcome to our dedicated page for Paycor Hcm news (Ticker: PYCR), a resource for investors and traders seeking the latest updates and insights on Paycor Hcm stock.
The news page for Paycor HCM, Inc. (PYCR) provides an archive of company announcements and market updates from its time as an independent public company through its acquisition by Paychex, Inc. Paycor is described in these releases as a leading provider of human capital management (HCM) software, offering an HR, payroll, and talent platform that connects leaders to people, data, and expertise.
News items cover a range of topics, including quarterly financial results, guidance, and commentary on business performance. For example, Paycor has reported revenue growth, changes in operating income, and non-GAAP measures such as adjusted operating income, adjusted net income, and adjusted free cash flow, along with explanations of how these non-GAAP metrics are defined and used by management.
Product and technology updates are another key theme in Paycor’s news. The company has announced the launch of Paycor Assistant, an AI-powered HR companion that offers a conversational interface, intelligent search, and HR document summarization, as well as an integration platform that connects its HCM system to many technology partners. Other releases highlight AI-based capabilities in skills management, candidate sourcing, job description generation, and sentiment analysis.
Strategic and corporate developments also feature prominently. These include Paycor’s participation in investor conferences, embedded partner programs such as the integration of Paycor’s HCM solution into PDI Enterprise, and major transaction announcements. Notably, Paycor disclosed a definitive agreement to be acquired by Paychex and later provided updates related to the merger process, while Paychex and Apax Partners issued their own releases describing the rationale and completion of the acquisition.
Investors and researchers can use this news stream to follow Paycor’s historical financial reporting, product evolution, AI initiatives, partnerships, and the sequence of events that led to its transition into a wholly owned subsidiary of Paychex.
Paycor HCM (Nasdaq: PYCR) announced an underwritten public offering of 5 million shares of common stock, primarily on behalf of investment funds advised by Apax Partners LLP. The shares are split between Pride Feeder, L.P. (3.5 million shares) and AIX Pride Syndication, L.P. (1.47 million shares). Paycor won’t receive proceeds from this offering but will incur associated costs. Additionally, 6.9 million shares will be distributed to limited partners before the closing, with 5 million shares offered in this public offering. Goldman Sachs & Co. LLC serves as the underwriter.
Paycor HCM (Nasdaq: PYCR) has launched Paycor Wallet, a mobile feature allowing employees to access earned wages and financial wellness tools. This innovation, developed in partnership with Payactiv, aims to enhance employee financial control with tools such as budgeting and early wage access. Key features include up to two-day early direct deposit, a digital wallet, and no-cost earned wage access for users with direct deposit. The initiative reflects Paycor's commitment to supporting over 125 million US workers living paycheck-to-paycheck.
Paycor HCM reported Q4 FY2022 revenue of $111.0 million, a rise of 26% year-over-year, and full-year revenue of $429.4 million, up 22%. The company expects FY2023 revenue guidance of $510-$516 million, reflecting a projected 20% increase. Operating loss narrowed to $30.1 million in Q4, down from $32.3 million a year prior, with adjusted operating income of $9.2 million. Paycor announced its naming rights for the Bengals stadium and highlighted significant traction with the Developer Portal, marking 148% increase in API usage.
Paycor HCM, a leading provider of human capital management software, announced its participation in two upcoming investor conferences. The first event is the Stifel Tech Executive Summit in Deer Valley, UT, scheduled for August 30, 2022, at 10:00 AM Mountain Time. This will be followed by the Deutsche Bank Technology Conference in Las Vegas, NV, on August 31, 2022, at 4:30 PM Pacific Time. Presentations will be available for live streaming and replay on Paycor’s investor relations website.
Paycor HCM, Inc. (Nasdaq: PYCR) has expanded its partnership with the Cincinnati Bengals by securing naming rights to the Bengals' home stadium, now called Paycor Stadium. This agreement enhances Paycor's visibility and commitment to the Cincinnati community, aligning with their growth strategy post their July 2021 IPO. The partnership demonstrates mutual support as the Bengals aim for continued success, with stadium branding to be unveiled ahead of the season. Paycor has been the official HR software provider for the Bengals since 2018.
Paycor HCM, Inc. (Nasdaq: PYCR) announced the launch of two innovative payroll features: Payroll AutoRun and Intelligent Tax Recommendations, designed to alleviate the administrative challenges associated with payroll processing. These enhancements automate payroll tasks, allowing HR leaders to focus on strategic employee development. The features include automated scheduling for payroll runs and intelligent tax setup recommendations based on employee locations, thus improving accuracy and efficiency in payroll management. These features are now available to all Paycor users.
Paycor HCM, Inc. (Nasdaq: PYCR) will release its financial results for Q4 and fiscal year 2022 on August 23, 2022, after market close. A conference call will be held at 5:00 p.m. ET to discuss these results. Paycor, a firm focused on human capital management, integrates various HR services tailored for leaders, boasting over 29,000 customers. The firm emphasizes modern solutions for recruitment, onboarding, payroll, and talent development.
Paycor HCM, Inc. (Nasdaq: PYCR) has introduced a new tagline, Empowering Leaders, emphasizing its commitment to supporting HR and business leaders. The change comes amidst a survey revealing that around 33% of U.S. employees contemplate quitting, highlighting retention as a key focus for leaders. The company's mission is aimed at equipping leaders with tools to enhance employee engagement and retention, especially in the challenging market environment. Paycor has also achieved recognition as a Nacha Certified company for the second year and received the Top Workplaces 2022 Award.
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Ubiquity Retirement + Savings announced a partnership with Paycor HCM, Inc. (NASDAQ: PYCR) to enhance retirement benefit access for small businesses. This collaboration streamlines the process for business owners to offer affordable, flat-fee retirement plans. Ubiquity aims to address the retirement savings gap, noting that over half of the workforce lacks access to employer-sponsored plans. Additionally, Ubiquity plans to introduce IRA solutions and a Pooled Employer Plan (PEP) to comply with retirement mandates and meet diverse client needs.