Yahoo Finance Paycom Software (PAYC) Unveils Global HCM Software Solution
Paycom Software PAYC recently rolled out its new Global HCM software that will enable businesses and their domestic and international employees to manage human resources needs within one easy-to-use system, avoiding multiple data points, logins and systems. The platform comes with Employee Self-Service and Manager on-the-Go functionalities, which integrate human resource processes to accelerate workforce engagement throughout organizations present in multiple nations.
The platform intends to address the growing need for human resources solutions among international clients by providing a seamless user experience and a single-database model. Available in 15 languages and dialects, the platform aims to expand user access in over 180 nations.
Paycom’s Global HCM solution also features Applicant Tracking, Ask Here, Benefits Administration, Beti functionality, Clue, Compensation Management, Direct Data Exchange, Documents and Checklists, Expense Management, Government and Compliance, Onboarding, Paycom Learning, Paycom Surveys, Performance Management, Personnel Action Forms, Position Management, Push Reporting, Scheduling, and Time and Attendance.
Paycom Software, Inc. Price and Consensus
Paycom Software, Inc. price-consensus-chart | Paycom Software, Inc. Quote
The company is benefiting from the increased top line as a result of new client additions and a continuous focus on cross-selling to its existing clients. Its differentiated employee strategy, measurement capabilities and comprehensive product offerings are helping it win new customers.
Paycom’s constant efforts for client retention aided it in increasing its average annual client retention rate from 91% in 2017 to 93% in 2022. It has a huge client base and is gaining a foothold among larger companies. The company is expanding its proactive sales efforts to target companies with 50 to 10,000 employees compared with its prior target of 50 to 5,000 employees. Considering its growth prospects, it makes sense to invest for long-term gains.
The online payroll and human resource technology provider reported revenues of $370.6 million, improving 30% year over year, in the fourth quarter of 2022. The figure increased mainly due to new client additions and continued focus on cross-selling to existing clients. The Zacks Consensus Estimate for Paycom’s first-quarter 2023 revenues is pegged at $444.2 million, suggesting 25.7% year-over-year growth.
Zacks Rank & Other Stocks to Consider
Paycom currently carries a Zacks Rank #2 (Buy). Shares of PAYC have fallen 6.8% in the past year.
Some other top-ranked stocks from the broader Computer and Technology sector are Airbnb ABNB, Baidu BIDU and Meta Platforms META. While Baidu and Meta Platforms flaunt a Zacks Rank #1 (Strong Buy), Airbnb carries a Zacks Rank #2 at present. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Baidu’s first-quarter 2023 earnings has been revised 39 cents southward to $2.21 per share over the past 30 days. For 2023, earnings estimates have risen by a penny to $11.54 per share over the past 30 days.
BIDU’s earnings beat the Zacks Consensus Estimate in all the preceding four quarters, the average surprise being 45.5%. Shares of the company have gained 4.3% in the past year.
The Zacks Consensus Estimate for Meta Platforms' first-quarter 2023 earnings has been revised a penny upward to $1.97 per share over the past seven days. For fiscal 2023, earnings estimates have moved north by a penny to $10.23 in the past seven days.
META’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, missing twice, the average surprise being 8.6%. Shares of the company have fallen 0.2% in the past year.
The Zacks Consensus Estimate for Airbnb’s first-quarter 2023 earnings has been revised northward from breakeven to 14 cents per share over the past 60 days. For 2023, earnings estimates have moved up by 52 cents to $3.38 in the past 60 days.
ABNB's earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 57.2%. Shares of the company have declined 28.7% in the past year.
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