Paycom forecasts annual revenue below estimates, veteran CFO Craig Boelte resigns

Paycom Software

12/02/2025 21:57

Feb 12 (Reuters) - Paycom Software  PAYC.N  forecast
full-year 2025 revenue below market estimates on Wednesday, as
businesses cut back on spending for human capital management
services, sending its shares down 3.3%.
        Paycom has promoted Bob Foster, its executive vice
president of accounting and finance, to the role of chief
financial officer, effective February 21. He will succeed
veteran CFO Craig Boelte.
  
    An uncertain economic climate has led to IT budget cuts,
prompting businesses to reduce spending, which has subsequently
impacted demand for Paycom's HR and payroll services.
    Paycom Software offers cloud-based human capital management
software, designed to manage employee records and facilitate
talent management processes.
    Paycom forecast full-year 2025 revenue in the range of $2.02
billion to $2.04 billion, whose midpoint is below analysts'
estimates of $2.05 billion, according to data compiled by LSEG.
    The payroll processor reported revenue of $493.8 million for
the fourth quarter ended December 31, beating analysts' average
estimate of $480.8 million.
    The Oklahoma City-based company's fourth-quarter adjusted
profit per share stood at $2.32 compared with analysts'
estimates of $1.97.
    

 (Reporting by Priyanka.G in Bengaluru; Editing by Mohammed Safi
Shamsi)
 ((Priyanka.G@thomsonreuters.com;))