Latest news with #Paycor
Yahoo
29-05-2025
- Business
- Yahoo
What will the new Bengals stadium negotiators cost Hamilton County?
Hamilton County has new lawyers to represent the taxpayers' interests in negotiations over Paycor Stadium renovations, with higher hourly rates. The Hamilton County Commissioners unanimously voted May 15 to replace Tom Gabelman as special project counsel for Paycor negotiations and riverfront developments with attorneys from Dinsmore and Shohl. They also voted to replace Gabelman in negotiations for the Great American Ballpark lease with the law firm of Vorys, Sater, Seymour and Pease. Hamilton County Prosecutor Connie Pillich supported the move, saying the county had been "treading water" in negotiations on Paycor. Gabelman had been representing the county in stadium talks for nearly 30 years. After the county terminated its contract with him, he resigned as a partner with Frost Brown Todd. Gabelman noted that the new lawyers' rates were nearly twice his rate at the commissioners' meeting and in a memo he released after the meeting. Gabelman charged the county $250 an hour, which was a discount. He told The Enquirer in 2019 that his usual rate was $560 an hour. In 2019, Gabelman estimated that Frost Brown Todd had received $21 million from the county in legal fees over 22 years. Pillich said the rate for Dinsmore partners will be $450 an hour, and $250 for its staff attorneys. When handling work on the Reds ballpark, partners with Vorys will make $425 an hour and staff attorneys will make $250. Pillich told reporters May 15 that she thinks the costs will wash out given the scope of the work and the fact that staff attorneys are billing at the same rate as Gabelman. She noted that the rates for the new law firms are also discounted. "I think that the law firms we recommended and the commissioners chose, I just think they've got an economy of scale based on how their offices are set up and based upon their national reputations. So I'm assuming they will work faster," she said. Pillich said her primary concern was ensuring the county is in a position to more forward with the stadiums and with riverfront development. "That's a huge part of our economic engine in this county and I want to make make sure they have the best tools available to them to make the decisions they need to make," she said. Regional politics reporter Erin Glynn can be reached at eglynn@ @ee_glynn on X or @eringlynn on Bluesky. This article originally appeared on Cincinnati Enquirer: What the new Paycor Stadium lawyers will cost Hamilton County
Yahoo
25-05-2025
- Business
- Yahoo
Jefferies Lifted the Price Target for Paychex, Inc. (PAYX) by $35
Jefferies has maintained a Hold rating while increasing its price target for Paychex, Inc. (NASDAQ:PAYX) from $215 to $250 as part of a larger reevaluation of the software market. A man in a suit presenting HR Solutions to a satisfied corporate client. Paychex, Inc. (NASDAQ:PAYX) reported a 5% rise in total revenue in Q3, or 6% if the effects of the ERTC program's expiry are taken out of the equation. Solid profitability was shown by an 8% rise in adjusted diluted EPS. The firm's competitive position will be strengthened by the anticipated accretive adjusted EPS in the upcoming fiscal year from the recent purchase of Paycor. Record retention levels were approached by HR outsourcing solutions, and client retention increased. Paychex, Inc. (NASDAQ:PAYX)'s tech-driven approach became even more apparent when it was named one of Fortune's Most Innovative Companies for the third year. The ERTC program's continuous income impact, a 2% drop in interest on client funds, and a loss in participation in a Florida at-risk medical plan are obstacles, though. Operational difficulties are also brought on by Paycor's integration risks and the macroeconomic downturn of the US job market. While we acknowledge the potential of PAYX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PAYX and that has 100x upside potential, check out our report about this READ NEXT: and . Disclosure. None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-04-2025
- Business
- Yahoo
Unpacking Q4 Earnings: Paycor (NASDAQ:PYCR) In The Context Of Other HR Software Stocks
As the craze of earnings season draws to a close, here's a look back at some of the most exciting (and some less so) results from Q4. Today, we are looking at hr software stocks, starting with Paycor (NASDAQ:PYCR). Modern HR software has two powerful benefits: cost savings and ease of use. For cost savings, businesses large and small much prefer the flexibility of cloud-based, web-browser-delivered software paid for on a subscription basis rather than the hassle and complexity of purchasing and managing on-premise enterprise software. On the usability side, the consumerization of business software creates seamless experiences whereby multiple standalone processes like payroll processing and compliance are aggregated into a single, easy-to-use platform. The 6 HR software stocks we track reported a mixed Q4. As a group, revenues beat analysts' consensus estimates by 1.5% while next quarter's revenue guidance was 4% below. While some hr software stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 3.6% since the latest earnings results. Founded in 1990 in Cincinnati, Ohio, Paycor (NASDAQ: PYCR) provides software for small businesses to manage their payroll and HR needs in one place. Paycor reported revenues of $180.4 million, up 13.1% year on year. This print exceeded analysts' expectations by 1.9%. Despite the top-line beat, it was still a slower quarter for the company with a significant miss of analysts' EBITDA estimates. Interestingly, the stock is up 1.6% since reporting and currently trades at $22.49. Read our full report on Paycor here, it's free. Founded by payroll software veteran Steve Sarowitz in 1997, Paylocity (NASDAQ:PCTY) is a provider of payroll and HR software for small and medium-sized enterprises. Paylocity reported revenues of $377 million, up 15.5% year on year, outperforming analysts' expectations by 2.7%. The business had a strong quarter with an impressive beat of analysts' EBITDA estimates and full-year EBITDA guidance beating analysts' expectations. Paylocity scored the biggest analyst estimates beat and highest full-year guidance raise among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 10.4% since reporting. It currently trades at $189.82. Is now the time to buy Paylocity? Access our full analysis of the earnings results here, it's free. Founded in 1992 as Ceridian, an outsourced payroll processor and transformed after the 2012 acquisition of Dayforce, Dayforce (NYSE:DAY) is a provider of cloud based payroll and HR software targeted at mid-sized businesses. Dayforce reported revenues of $465.2 million, up 16.4% year on year, exceeding analysts' expectations by 2%. Still, it was a weaker quarter as it posted full-year guidance of slowing revenue growth and revenue guidance for next quarter missing analysts' expectations significantly. Dayforce delivered the weakest full-year guidance update in the group. As expected, the stock is down 20.5% since the results and currently trades at $57.04. Read our full analysis of Dayforce's results here. One of the oldest service providers in the industry, Paychex (NASDAQ:PAYX) offers its customers payroll and HR software solutions. Paychex reported revenues of $1.51 billion, up 4.8% year on year. This number was in line with analysts' expectations. Aside from that, it was a mixed quarter as its performance in some other areas of the business was disappointing. Paychex had the slowest revenue growth among its peers. The stock is flat since reporting and currently trades at $144.73. Read our full, actionable report on Paychex here, it's free. Created from the merger of two small workforce management companies in 2007, Asure (NASDAQ:ASUR) provides cloud based payroll and HR software for small and medium-sized businesses (SMBs). Asure reported revenues of $30.79 million, up 17.2% year on year. This print met analysts' expectations. However, it was a slower quarter as it logged EBITDA guidance for next quarter missing analysts' expectations significantly and a slight miss of analysts' EBITDA estimates. Asure delivered the fastest revenue growth but had the weakest performance against analyst estimates among its peers. The stock is down 2.8% since reporting and currently trades at $9.42. Read our full, actionable report on Asure here, it's free. The Fed's interest rate hikes throughout 2022 and 2023 have successfully cooled post-pandemic inflation, bringing it closer to the 2% target. Inflationary pressures have eased without tipping the economy into a recession, suggesting a soft landing. This stability, paired with recent rate cuts (0.5% in September 2024 and 0.25% in November 2024), fueled a strong year for the stock market in 2024. The markets surged further after Donald Trump's presidential victory in November, with major indices reaching record highs in the days following the election. Still, questions remain about the direction of economic policy, as potential tariffs and corporate tax changes add uncertainty for 2025. Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. Join Paid Stock Investor Research Help us make StockStory more helpful to investors like yourself. Join our paid user research session and receive a $50 Amazon gift card for your opinions. Sign up here. Sign in to access your portfolio
Yahoo
23-04-2025
- Business
- Yahoo
3 Dawdling Stocks Walking a Fine Line
Low-volatility stocks may offer stability, but that often comes at the cost of slower growth and the upside potential of more dynamic companies. Luckily for you, StockStory helps you navigate which companies are truly worth holding. Keeping that in mind, here are three low-volatility stocks to steer clear of and a few better alternatives. Rolling One-Year Beta: 0.63 Founded in 1990 in Cincinnati, Ohio, Paycor (NASDAQ: PYCR) provides software for small businesses to manage their payroll and HR needs in one place. Why Does PYCR Worry Us? High servicing costs result in a relatively inferior gross margin of 66% that must be offset through increased usage Poor expense management has led to operating losses Forecasted free cash flow margin suggests the company will fail to improve its cash conversion over the next year Paycor's stock price of $22.49 implies a valuation ratio of 5.2x forward price-to-sales. Check out our free in-depth research report to learn more about why PYCR doesn't pass our bar. Rolling One-Year Beta: 0.76 Formed from a partnership between two distinct companies, CVG (NASDAQ:CVGI) offers various components used in vehicles and systems used in warehouses. Why Do We Think CVGI Will Underperform? Annual sales declines of 2.4% for the past five years show its products and services struggled to connect with the market during this cycle Free cash flow margin shrank by 9.1 percentage points over the last five years, suggesting the company is consuming more capital to stay competitive Limited cash reserves may force the company to seek unfavorable financing terms that could dilute shareholders Commercial Vehicle Group is trading at $0.96 per share, or 10.5x forward price-to-earnings. Read our free research report to see why you should think twice about including CVGI in your portfolio, it's free. Rolling One-Year Beta: 0.35 With roots dating back to 1877 and serving over 150,000 customers across North America and the UK, Patterson Companies (NASDAQ:PDCO) is a specialty distributor that supplies dental practices and animal health professionals with equipment, consumables, pharmaceuticals, and practice management software. Why Are We Hesitant About PDCO? Organic sales performance over the past two years indicates the company may need to make strategic adjustments or rely on M&A to catalyze faster growth Estimated sales growth of 3.1% for the next 12 months is soft and implies weaker demand Cash burn makes us question whether it can achieve sustainable long-term growth At $31.34 per share, Patterson Companies trades at 13.8x forward price-to-earnings. If you're considering PDCO for your portfolio, see our FREE research report to learn more. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 175% over the last five years. Stocks that made our list in 2019 include now familiar names such as Nvidia (+2,183% between December 2019 and December 2024) as well as under-the-radar businesses like United Rentals (+322% five-year return). Find your next big winner with StockStory today for free. Sign in to access your portfolio
Yahoo
23-04-2025
- Business
- Yahoo
Paychex Completes Acquisition of Paycor
Deal strengthens Paychex's upmarket position, unlocks new revenue channels, and expands strategic footprint and capabilities ROCHESTER, N.Y., April 14, 2025--(BUSINESS WIRE)--Paychex, Inc. (Nasdaq: PAYX) ("Paychex"), an industry-leading human capital management (HCM) company, today announced the successful completion of its acquisition of Paycor HCM, Inc. (Nasdaq: PYCR) ("Paycor"), a leading provider of HCM, payroll and talent software. "The Paycor acquisition unites two industry leaders with unrivaled AI-enabled technology supported by world-class service and advisory capabilities," said John Gibson, Paychex president and CEO. "Together, we are reimagining how companies address the needs of today's workforce with the most comprehensive, flexible, and innovative HCM solutions in the industry. Our combined offerings empower leaders in organizations of any size, in any segment, and at any stage. Our customers will benefit from more choice, more expertise, and more flexibility than ever before." "This transaction strengthens our competitive position upmarket, unlocks new revenue opportunities, and positions us for sustainable long-term growth," Gibson added. "Our integration strategy will prioritize accelerating sales expansion and product innovation to drive our growth. We warmly welcome the talented Paycor team and look forward to leveraging their strengths to realize the full potential of this opportunity." Transaction Highlights All-cash acquisition of 100% of Paycor for $22.50 per share, representing approximately $4.1 billion of enterprise value Combined offering will be the most comprehensive HCM portfolio in the industry, enabling Paychex to better meet the needs of new and existing customers across all market segments Expected annual cost synergies of more than $80 million in fiscal 2026 and substantial revenue synergy opportunities over the next several years Expected to be accretive to adjusted diluted EPS in fiscal 2026(1) Paychex remains committed to maintaining its dividend policy and strong balance sheet (1) Adjusted diluted earnings per share ("EPS") is not a U.S. generally accepted accounting principles ("GAAP") measure. Refer to our Annual Report on Form 10-K for a discussion of these measures. Advisors J.P. Morgan Securities LLC served as the exclusive financial advisor to Paychex, and Davis Polk & Wardwell LLP served as legal advisor to Paychex. Goldman Sachs & Co. LLC served as the exclusive financial advisor to Paycor, and Kirkland & Ellis LLP served as legal advisor to Paycor. About Paychex Paychex, Inc. (Nasdaq: PAYX) is the digitally driven HR leader that is reimagining how companies address the needs of today's workforce with the most comprehensive, flexible, and innovative HCM solutions for organizations of all sizes. Offering a full spectrum of HR advisory and employee solutions, Paychex pays 1 out of every 11 American private sector workers and is raising the bar in HCM for nearly 800,000 customers in the U.S. and Europe. Every member of the Paychex team is committed to fulfilling the company's purpose of helping businesses succeed. Visit to learn more. Cautionary Note Regarding Forward-Looking Statements Certain written statements in this press release may contain, and members of management may from time to time make or discuss statements which constitute, "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by such words and phrases as "expect," "outlook," "will," guidance," "projections," "strategy," "mission," "anticipate," "believe," "can," "could," "design," "look forward," "may," "possible," "potential," "should" and other similar words or phrases. Forward-looking statements include, without limitation, all matters that are not historical facts. Examples of forward-looking statements include, among others, statements we make regarding operating performance, events, or developments that we expect or anticipate will occur in the future, including statements relating to our outlook, revenue growth, earnings, earnings-per-share growth, and similar projections. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to known and unknown uncertainties, risks, changes in circumstances, and other factors that are difficult to predict, many of which are outside our control. Our actual performance and outcomes, including without limitation, our actual results and financial condition, may differ materially from those indicated in or suggested by the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to keep pace with changes in technology or provide timely enhancements to our solutions and support; software defects, undetected errors, and development delays for our solutions; the possibility of cyberattacks, security vulnerabilities or Internet disruptions, including data security and privacy leaks, and data loss and business interruptions; the possibility of failure of our business continuity plan during a catastrophic event; the failure of third-party service providers to perform their functions; the possibility that we may be exposed to additional risks related to our co-employment relationship with our PEO business; changes in health insurance and workers' compensation insurance rates and underlying claim trends; risks related to acquisitions and the integration of the businesses we acquire, including risks related to the integration of Paycor; our clients' failure to reimburse us for payments made by us on their behalf; the effect of changes in government regulations mandating the amount of tax withheld or the timing of remittances; our failure to comply with covenants in our debt agreements; changes in governmental regulations, laws, and policies; our ability to comply with U.S. and foreign laws and regulations; our compliance with data privacy and artificial intelligence laws and regulations; our failure to protect our intellectual property rights; potential outcomes related to pending or future litigation matters; the impact of macroeconomic factors on the U.S. and global economy, and in particular on our small- and medium-sized business clients; volatility in the political and economic environment, including inflation and interest rate changes; our ability to attract and retain qualified people; and the possible effects of negative publicity on our reputation and the value of our brand. Any of these factors, as well as such other factors as discussed in our SEC filings, could cause our actual results to differ materially from our anticipated results. The information provided in this document is based upon the facts and circumstances known as of the date of this press release, and any forward-looking statements made by us in this document speak only as of the date on which they are made. Except as required by law, we undertake no obligation to update these forward-looking statements after the date of issuance of this press release to reflect events or circumstances after such date, or to reflect the occurrence of unanticipated events. View source version on Contacts Paychex Investor Relations:Rachel White, Director, Investor RelationsPhil Nicosia, Manager, Investor Relations(800) 828-4411investors@ Paychex Media Inquiries:Tracy VolkmannManager, Public Relations(585) 387-6705tvolkmann@ Sign in to access your portfolio
