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    Paycom Software Inc (PAYC)

    Board Change

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    Paycom Software, Inc. is a leading provider of a comprehensive, cloud-based human capital management (HCM) solution delivered as Software-as-a-Service (SaaS) . The company's solution spans the entire employment lifecycle, offering functionalities such as talent acquisition, time and labor management, payroll, talent management, and human resources management applications . Paycom's software is designed to be user-friendly, enabling employees to self-manage their HCM activities in the cloud, which reduces administrative burdens on employers and enhances employee productivity .

    1. Payroll Applications - Provides comprehensive payroll solutions that are the primary revenue driver, facilitating efficient payroll processing and management.
    2. Talent Acquisition - Offers tools for recruiting and onboarding new employees, streamlining the hiring process.
    3. Time and Labor Management - Manages employee time tracking and labor allocation to optimize workforce productivity.
    4. Talent Management - Supports employee development and performance management to enhance workforce capabilities.
    5. Human Resources Management Applications - Delivers HR solutions that cover various aspects of employee management and compliance.
    NamePositionStart DateShort Bio
    Chad RichisonCo-Chief Executive Officer, President1998Chad Richison is the Co-Chief Executive Officer, President, and Chairman of the Board of Directors at Paycom Software, Inc. He has been with the company since its founding in 1998 .
    Chris G. ThomasCo-Chief Executive OfficerFebruary 2024Chris G. Thomas has been serving as the Co-Chief Executive Officer of Paycom since February 2024. He joined the company in 2018 and has held various leadership roles .
    Craig E. BoelteChief Financial OfficerFebruary 2006Craig E. Boelte has served as the Chief Financial Officer of Paycom Software, Inc. since February 2006. He also took on the role of Treasurer in May 2017 .
    Jason D. ClarkChief Administrative OfficerDecember 4, 2023Jason D. Clark has served as the Chief Administrative Officer at Paycom since December 4, 2023. Before joining the executive team, he was a member of Paycom's Board of Directors .
    Holly FaurotChief Sales OfficerApril 2021Holly Faurot has served as the Chief Sales Officer at Paycom since April 2021. Prior to this role, she was the Senior Executive Vice President of Sales and Client Relations .
    Bradley S. SmithChief Information OfficerApril 2018Bradley S. Smith has served as the Chief Information Officer at Paycom since April 2018. Before this role, he was Paycom's Director of Software Development .
    Amy WalkerExecutive Vice President of SalesApril 1, 2024Amy Walker was appointed as the Executive Vice President of Sales at Paycom Software, Inc. on April 1, 2024. She has been with the company for nearly 14 years, serving in various senior leadership roles .
    Archana VemulapalliBoard of Directors, Class I DirectorJuly 30, 2024Archana Vemulapalli serves as a Director on the Board of Paycom Software, Inc. She was required to file an initial statement of beneficial ownership of securities on July 30, 2024 .
    Joe BinzBoard of Directors, Class II DirectorDecember 10, 2024Joe Binz was appointed to the Board of Directors of Paycom Software, Inc. as a Class II director on December 10, 2024. He currently serves as the Chief Financial Officer at Atlassian Corporation .
    1. Your revenue guidance for fiscal 2024 indicates approximately 10% year-over-year growth, which is a deceleration compared to previous years. What are the main factors contributing to this slower growth, and how do you plan to address them to return to higher growth rates?

    2. You have raised your adjusted EBITDA margin guidance to approximately 39% for the year. Can you provide more detail on the specific areas where you're achieving greater efficiencies and whether these improvements are sustainable long-term?

    3. With the completion of your fifth building and expectations for CapEx to be single digits as a percent of revenue next year, how will this reduction in capital expenditures impact your operations, and what are your plans for deploying the increased free cash flow?

    4. You mentioned focusing on client value achievement strategies to improve module utilization and ROI for clients. Can you provide specifics on the challenges you've faced in driving adoption of already-sold modules, and how you're addressing these to enhance client satisfaction and retention?

    5. Given the increased staffing in your sales teams and the highly competitive industry, what are the key differentiators in your sales strategy to capture market share from competitors, and how do you see the current economic environment impacting your ability to achieve your sales goals?

    Program DetailsProgram 1Program 2Program 3
    Approval DateNovember 20, 2018 June 7, 2022 August 15, 2022
    End Date/DurationMay 13, 2023 June 7, 2024 August 15, 2024
    Total Additional Amount$300.0 million $550.0 million $1.1 billion
    Remaining AuthorizationN/AN/AN/A
    DetailsExtended authorizationExtended authorizationExtended authorization

    Competitors mentioned in the company's latest 10K filing.

    • Automatic Data Processing, Inc.
    • Cornerstone OnDemand, Inc.
    • Dayforce, Inc.
    • Gusto, Inc.
    • Intuit, Inc.
    • Insperity, Inc.
    • Oracle Corporation
    • Paychex, Inc.
    • Paylocity Holding Corporation
    • Paycor HCM, Inc.
    • People Center, Inc. d/b/a Rippling
    • SAP SE
    • ServiceNow, Inc.
    • Ultimate Kronos Group
    • Workday, Inc.
    • Other international, national, regional, and local providers
    NameStart DateEnd DateReason for Change
    Grant Thornton LLP2009 PresentCurrent auditor

    Recent developments and announcements about PAYC.

    Corporate Leadership

      Board Change

      ·
      Dec 12, 2024, 9:47 PM

      Joe Binz has been appointed to the Board of Directors of Paycom Software, Inc., effective December 10, 2024. He will serve as a Class II director and has also been appointed to the audit committee of the Board .