Paycom Business News

[Plutonic Panda]

Paycom IPO hits snag | News OK

[catch22]

I don't blame them. Tech has been getting hammered past week or so. Good to not put your stock for sale in the middle of a correction period.

[Plutonic Panda]

Paycom goes public:

OKLAHOMA CITY – Paycom Software Inc. said late Monday its initial public offering of more than 6.6 million shares of its common stock will be priced at $15 per share. The shares start trading on the New York Stock Exchange on Tuesday under the symbol PAYC. An aggregate of about 4.6 million shares are being sold by the company and about 2 million are being sold by stockholders. According to a Paycom press release, the underwriters have a 30-day option to purchase nearly 1 million additional shares of common stock from the selling stockholders to cover any over allotments.

Paycom plans to use the net proceeds from the offering to repay outstanding indebtedness.

- Paycom goes public | The Journal Record

[Plutonic Panda]

Paycom grows revenue, hires more staff in Oklahoma City | News OK

[Pete]

OKCTalk - Paycom and Boeing to add a combined 1,323 new jobs over the next 3 years

[blangtang]

Keep an eye on this growth company if you are into investing in local stocks. ( $ PAYC )

[okatty]

^ Agree...bought this stock right after issue and was bumpy at first and has since taken off. They are state of the art and seem to have the process down. Have a number of clients who use their services and think they are great.

[Thomas Vu]

^ Agree...bought this stock right after issue and was bumpy at first and has since taken off. They are state of the art and seem to have the process down. Have a number of clients who use their services and think they are great.

I enjoyed using their service.

[HangryHippo]

I enjoyed using their service.

Do you no longer use it?

[mimino]

I enjoyed making 18% on their stock after-earnings But I also did not enjoy losing money on FIT after their blow-out earnings... This market is drunk.

[Thomas Vu]

Do you no longer use it?

I became salaried/changed companies since then.

[TheTravellers]

We?re giving Paycom money to create jobs they were going to create anyway? | The Lost Ogle

[OKC Guy]

Wow Paycom popped today. But The thinking is going forward will see revenue decline since they charge per employee and lots of folks out of jobs lately. But first qtr was good:

What happened
Shares of Paycom Software (NYSE:PAYC) have popped today, up by 14% as of 1 p.m. EDT, after the company reported first-quarter earnings. The HR software specialist beat expectations for both the top and bottom lines but withdrew its 2020 guidance due to the COVID-19 pandemic.

So what
Revenue in the first quarter increased 21% to $242.2 million, easily topping the consensus estimate of $237.9 million. That all translated into adjusted net income of $77.9 million, or $1.33 per share. Analysts were looking for just $1.26 per share in adjusted profits. Adjusted EBITDA was $117.9 million, and Paycom finished the quarter with $181.8 million in cash and cash equivalents on the balance sheet.

[Bits_Of_Real_Panther]

My company uses paycom. they have a lot of features. my company only uses a fraction of what they have available.

from a user experience perspective: not wonderful, not terrible.

[Jersey Boss]

Paycom and J.C. Watts make national attention.

Have Paycom Software, Inc. (NYSE:PAYC) Insiders Been Selling Their Stock? | Nasdaq
https://www.google.com/amp/s/www.nas...20-11-16%3famp

[mugofbeer]

Interesting!

Paid by the employee covered by the software so they must be anticipating lower employment, more competition, higher costs under the next admin?

[OkiePoke]

^^

That's a lot to unpack over 2 sales.

[Dob Hooligan]

Interesting!

Paid by the employee covered by the software so they must be anticipating lower employment, more competition, higher costs under the next admin?

I'm guessing JC Watts sold the 1,000 shares at $386 per because he wanted some cash. Chad Richison probably sold his for over $100 million for estate purposes.

[Teo9969]

Interesting!

Paid by the employee covered by the software so they must be anticipating lower employment, more competition, higher costs under the next admin?

Full disclosure: Paycom EE here.

Most of the insiders and especially Chad have not sold a whole lot of stock since the IPO, even after additional grants. I'm assuming they were cashing out for personal reasons as opposed to a concern for the business. I imagine they were hedging against potential higher taxes as individuals.

Like any business there's always concerns for what your competition is doing and how different headwinds affect you. Unemployment would have a larger effect but low interest rates also hurts. That being said, Paycom doesn't even have 10% of the marketshare and it's well established as a growth company with no indication of slowing that growth and settling at the current market share. I wouldn't assume that's in the cards probably ever, but for sure not in the cards anytime soon.

There's also the every looming question of how a company that doesn't even produce $1B in annual revenue is worth well over $20B. But the stock market is gonna stock market.

[oktxatty]

Paycom Software Sinks 37% as Analysts Downgrade the Stock After Revenue Cut, largest fall on the NASDAQ in 2023.

[FighttheGoodFight]

Reading about this it is cannibalization from their own product, Beti. I guess that is payroll correction done by the employee so it lowers billable hours that Paycom gets. Interesting.

[chssooner]

I get why they lowered their expectations. As someone who uses Paycom, BETI helps a lot. And with that help, there are fewer items people call or need help from Paycom, which they would bill the customer for.

Short-term pain for long-term gain, I'd guess. Just a way where progress lowers revenue in the short term.

[jedicurt]

i mean BETI is an amazing product by them. yes, it drops billable hours to the customer, but once word gets out on how much time it can save a companies payroll people in fixing mistakes, makes paycom a much more interesting option for a payroll solution. yes, i think this is a situation where the market analyst are overreacting, because while in the short term hurts revenue projections, i think it will end up being what allows them to take on a much bigger share of the market in the long term.

[OKCRealtor]

I came here to ask what is going on with Paycom? I follow the markets pretty closely but haven't kept an eye on PAYC stock in awhile. Thank god I didn't have any money in them. Are we about to see a ripple effect with layoffs, etc?

[jedicurt]

I came here to ask what is going on with Paycom? I follow the markets pretty closely but haven't kept an eye on PAYC stock in awhile. Thank god I didn't have any money in them. Are we about to see a ripple effect with layoffs, etc?

i don't think so. i'm think it's all analyst overreaction. paycom said 2024 growth would be 10-12% which is still good growth, the analysts were for some reason thinking it should be 21%. and thus the sell off.