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Tag: Paycom Software

  • Quarterly Success Drives Paycom (PAYC) Stock Rally, Reinforcing Market Optimism

    Quarterly Success Drives Paycom (PAYC) Stock Rally, Reinforcing Market Optimism

    After releasing robust quarterly financial results, Paycom Software, Inc. (NYSE: PAYC) witnessed a significant surge in stock performance, with shares climbing 24.84% to reach $215.4. The financial boost reflects PAYC’s strengthened demand in workforce management services amid a resilient job market, marking another milestone for the company.

    Impressive Revenue and Profit Growth

    Paycom announced significant financial gains, fueled by a rise in demand for its all-inclusive staff management solutions. With a GAAP net income of $73.3 million, or $1.31 per diluted share, PAYC reported $452 million in sales for the quarter.

    Paycom has $325.8 million in cash and cash equivalents as of September 30, 2024. These findings demonstrate Paycom’s sound financial standing and dedication to offering automated, scalable workforce solutions.

    The Study Highlights of Forrester Time-Off Automation with a High ROI

    Paycom released the results of a research by Forrester Consulting to look at the economic effects of PAYC’s automatic Time-Off Requests tool, called GONE. This automation uses adjustable decision-making criteria to simplify the time-off request process, which was previously done manually. According to the Forrester study, a composite organization using GONE could achieve up to an 821% return on investment over three years.

    Operational Benefits and Managerial Efficiency

    The Forrester study noted that using GONE saves time across multiple organizational roles. Managers reportedly save the equivalent of nearly one 40-hour workweek annually in time typically spent reviewing and approving requests.

    Additionally, HR, finance, and administrative teams saved close to five workweeks in labor, while avoiding up to six workweeks in overtime expenses annually due to better staffing consistency. Without such automation, organizations face unmanaged labor costs, overpayment issues, scheduling errors, and staffing disruptions.

    Strategic Vision for Comprehensive Workforce Solutions

    Commissioned in fall 2024, the Forrester Total Economic Impact (TEI) study on GONE underscores Paycom’s commitment to advancing workforce automation. PAYC aims to deliver not only robust employee management but also significant financial value for organizations through comprehensive solutions that address labor management inefficiencies and enhance overall productivity.

  • Paycom Software Inc. (PAYC) Reports Beat 2021 Earnings: PAYC on a Rise After Hours

    On February 08, Paycom Software Inc. (PAYC) reported its financial results for the fourth quarter and fiscal 2021. Consequently, the stock continued to rise in the after hours.

    During the regular trading session, the stock went as high as $336.85 and as low as $325.13. PAYC stock closed the session at $335.01 with a gain of 1.96% or $6.43 at a volume of 817.01K shares. Following the announcement, the stock added a further 8.62% in the after-hours. Thus, PAYC was able to increase by a further $28.89 in the after-hours to reach a value of $363.90 on Tuesday.

    Paycom Software Inc. works in the provision of cloud-based human capital management software solutions. These HCM solutions are delivered as Software-as-a-Service by the company. Currently, the company has a market capitalization of $19.72 billion with its 60.03 million shares outstanding.

    PAYC Financials

    Q4 2021

    In Q4 2021, the company had total revenues of $285.0 million, which shows an increase of 29% YOY.

    Moreover, PAYC reported a non-GAAP net income of $64.4 million with $1.11 on a diluted share basis in the quarter.

    Additionally, the adjusted EBIDTA was $109.6 million in the quarter.

    Full Year 2021

    For fiscal 2021, the company reported total revenues of $1,055.5 million with a YOY increase of 25.4%.

    Furthermore, the company had a non-GAAP net income of $260.4 million with $4.48 on a diluted share basis in fiscal 2021.

    In addition, the reported adjusted EBITDA for fiscal 2021 was $419.3 million.

    PAYC Future Outlook

    The company expects revenue of $342 to $344 million for Q1 2022 and $1.314 to $1.316 billion for fiscal 2022.

    Further, the expected adjusted EBIDTA for Q1 and fiscal 2022 is $161-$163 million and $524-$526 million, respectively.

    PAYC Recent Participation

    On December 07, the company participated and virtually presented at the Barclays Global Technology, Media, and Telecommunications Conference.

    Top HR Product of 2021

    On September 29, the company announced its newest innovation BetiTM being awarded the 2021 Top HR Product. The company was awarded the title at the HR Technology Conference & Exposition by Human Resource Executive magazine.

    PAYC’s Beti (Better Employee Transaction Interface) empowers employees to do their own payroll.

    Conclusion

    While the fear of the impact of the pandemic was looming overhead, the investors were still hopeful towards the company’s latest earnings. The earnings report on Tuesday did not disappoint as it beat both revenue and EPS estimates. Hence, the stock added a good value in the after-hours on Tuesday.