Paycom announces leadership changes in technology roles

OKLAHOMA CITY - Paycom Software, Inc. (NYSE:PAYC), a $12.67 billion market cap company with impressive gross profit margins of 86%, announced executive leadership changes effective August 18, including an expanded role for Shane Hadlock and the promotion of Rachael Gannon, according to a press release issued by the company. According to InvestingPro data, the company maintains strong financial health with more cash than debt on its balance sheet.

Hadlock will now serve as both chief client officer and chief technology officer, overseeing the IT department while continuing to lead client service groups. He brings more than 30 years of technology experience, including nearly 14 years at Paycom and 10 years in leadership roles at Hertz.

Rachael Gannon has been promoted to chief automation officer and will lead the Software department. Gannon, who joined Paycom in 2013, previously served as executive vice president of Product and Development and will now be responsible for driving the company’s product strategy.

Brad Smith, who has been with Paycom since 2005 and served as chief information officer since 2018, has been named senior technical strategist. Smith will continue to report to CEO Chad Richison.

"Shane’s exceptional client-centric approach, combined with his systems expertise, has made him an invaluable asset to our organization," Richison stated in the press release.

Paycom, a provider of cloud-based human capital management software, has been operating for over 25 years. The company offers automated HR and payroll technology services to businesses of various sizes in the U.S. and internationally. Trading at a P/E ratio of 30.31, the company’s detailed financial analysis and Fair Value assessment are available through InvestingPro’s comprehensive research reports, which provide in-depth analysis of 1,400+ top stocks.

In other recent news, Paycom Software reported its second-quarter 2025 earnings, surpassing market expectations with an earnings per share of $2.06 compared to the forecasted $1.78, a 15.73% surprise. The company’s revenue also exceeded projections, reaching $484 million against an expected $472.01 million. Following these results, KeyBanc Capital Markets raised its price target for Paycom Software to $290, citing strong earnings performance and an increase in full-year guidance. BMO Capital also increased its price target to $258, noting the company’s impressive quarterly results and optimistic future guidance. Stifel raised its price target to $240 due to Paycom’s EBITDA margins growing by 450 basis points year-over-year, driven by revenue upside and efficiency gains. Meanwhile, TD Cowen adjusted its price target to $246, highlighting a "healthy revenue beat and raise." These developments reflect a mixed sentiment among analysts, with some expressing optimism about Paycom’s financial health and others maintaining a more cautious outlook.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.