Paycom raises annual forecast on AI-driven demand

Paycom Software

05/08/2026 23:08

Aug 5 (Reuters) - Payroll processor Paycom PAYC.N on Wednesday lifted its annual revenue forecast, driven by steady demand for its AI-driven employee management services.
Shares of the company were up 15.1% in extended trading following the results.

Here are some details: 
Paycom, which offers a broad product suite and tools helping employers track and manage workforce tasks, has been  integrating AI features into its software.
The company expects full-year 2026 revenue of $2.197 billion to $2.212 billion, above its previous forecast of $2.175 billion to $2.195 billion.
Integration of AI into its services has boosted demand for Paycom's services, as businesses look to simplify workforce management functions.
The company offers employee-focused tools such as Beti, GONE and IWant.
It reported revenue of $531.2 million for the quarter ended June 30, ahead of analysts' average estimate of $513.1 million, according to data compiled by LSEG.
Human capital management vendors such as Automatic Data Processing ADP.O, Workday WDAY.O and Paychex PAYX.O are among the major competitors of Paycom.

 (Reporting by Arunesh  Sinha in Bengaluru; Editing by Shreya Biswas)
 ((Arunesh.Sinha@thomsonreuters.com;))