Paycom Software, Inc.
Paycom Software Increases and Extends Stock Repurchase Plan
Summary
On July 31, 2024, Paycom Software, Inc. announced that its board of directors has increased and extended its ongoing stock repurchase plan. The new plan authorizes up to $1.5 billion for repurchases through August 15, 2026, from the previously authorized $676 million. The company intends to repurchase shares opportunistically if the valuations are attractive relative to peers. Shares will be repurchased in open market transactions, privately negotiated transactions, or through other means in accordance with federal securities laws.
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About Paycom Software, Inc.
Paycom Software, Inc. is a leading provider of cloud-based human capital management (HCM) software solutions that serve businesses of various sizes across multiple industries. Paycom's primary purpose is to streamline and automate the complex processes involved in human resources and payroll management. The software suite encompasses a broad range of functionalities, including talent acquisition, personnel management, payroll administration, and benefits management, offering businesses a comprehensive platform to manage their workforce efficiently. With its innovative technology, Paycom has impacted several sectors, notably in healthcare, education, and retail, by enhancing employee engagement and ensuring regulatory compliance. Founded in 1998 and headquartered in Oklahoma City, Paycom is recognized for its user-friendly interface and ability to integrate seamlessly with existing enterprise systems, making it a pivotal player in modernizing HR operations in today's digital economy.
Official SEC Documents
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