PAYCOM SOFTWARE Reports Record Second Quarter Earnings Results for Fiscal Year 2023
August 11, 2023
🌥️Earnings Overview
On August 1 2023, PAYCOM SOFTWARE ($NYSE:PAYC) reported its earnings for the second quarter of Fiscal Year 2023, ending on June 30 2023. Overall revenue was USD 401.1 million, indicating a 26.6% growth from the same period in 2022. Net income for the quarter amounted to USD 64.5 million, a 12.5% rise from the same quarter in the prior year.
Market Price
The stock opened at $366.9 and closed at $370.8, up by 0.5% from the previous closing price of 368.8. This marks a new all-time high for PAYCOM SOFTWARE stock, which has been steadily increasing over the past several quarters. The strong performance was attributed to the company’s focus on customer service and product development, as well as its ability to expand into new markets.
PAYCOM SOFTWARE’s suite of software solutions continues to be a top choice among businesses looking for a comprehensive payroll and employee management system. Investors are optimistic about PAYCOM SOFTWARE’s future prospects, and expect the stock to continue to rise in value in the coming months. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Paycom Software. More…
| Total Revenues | Net Income | Net Margin |
| 1.56k | 315.92 | 20.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Paycom Software. More…
| Operations | Investing | Financing |
| 448.14 | -84.15 | -1.46k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Paycom Software. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.95k | 2.54k | 24.31 |
Key Ratios Snapshot
Some of the financial key ratios for Paycom Software are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 25.3% | 23.6% | 29.0% |
| FCF Margin | ROE | ROA |
| 19.0% | 20.6% | 7.1% |
Analysis
GoodWhale recently conducted an analysis of PAYCOM SOFTWARE‘s wellbeing. After looking at their financials and business elements, it was determined that PAYCOM SOFTWARE is a low risk investment as indicated by its Risk Rating. Although it was deemed to be relatively safe, GoodWhale did detect one risk warning in its cashflow statement. To get a better picture of this warning, users must become a registered user of GoodWhale and gain access to the more detailed information. We advise users to use caution when investing and to do their own research before making any decisions. More…
Peers
The competition in the human capital management software market is heating up. Paycom Software Inc is going up against some big names such as Paylocity Holding Corp, Workday Inc, and Ramco Systems Ltd. While each company has its own strengths and weaknesses, it seems that Paycom is gaining ground in the competition.
– Paylocity Holding Corp ($NASDAQ:PCTY)
Paylocity Holding Corporation provides cloud-based payroll and human capital management solutions in the United States. The company’s solutions include Paylocity Web Pay, a cloud-based payroll solution that offers a suite of tools to manage an employee’s payroll needs; Paylocity Web HR, an online human resource information management solution; Talent Management, a recruiting and performance management solution; and Paylocity Performance, a cloud-based employee performance management solution.
– Workday Inc ($NASDAQ:WDAY)
Workday Inc is a leading provider of enterprise cloud applications for finance and human resources. The company has a market cap of 38.27B as of 2022 and a return on equity of -1.84%. Workday Inc provides a suite of financial and human resources applications that are designed to help organizations manage their finances and workforce more effectively. The company’s products are used by organizations of all sizes, from small businesses to large enterprises. Workday Inc’s products are delivered through a cloud-based model, which allows organizations to access the applications from anywhere in the world and pay for only the resources they use.
– Ramco Systems Ltd ($BSE:532370)
Ramco Systems is a global enterprise software company specializing in enterprise resource planning (ERP), enterprise asset management (EAM), and aircraft maintenance, repair, and overhaul (MRO) software. The company has a market cap of 7.82 billion as of 2022 and a return on equity of -11.06%. The company’s products are used by organizations in a variety of industries, including aerospace and defense, automotive, construction and engineering, manufacturing, and logistics.
Summary
PAYCOM SOFTWARE had a strong second quarter in Fiscal Year 2023, with total revenue up 26.6% compared to the same period last year and net income up 12.5%. The company has seen steady growth since then, with the stock price climbing steadily since August 1, 2023. Analysts are recommending a “buy” rating for the stock, as earnings remain strong and the company shows good potential for further growth. Investors should consider PAYCOM SOFTWARE when looking for investments with stable returns and potential for future growth.
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