Grabar Law Office is investigating potential claims against the officers and directors of Paycom Software, Inc. on behalf of current long-term stockholders.

Paycom Software, Inc. purports to be a “leading provider of a comprehensive, cloud-based human capital management solution delivered as “Software-as-a-Service."

On July 6, 2021, Paycom released a press release entitled “Paycom Launches Beti, an Industry-First Employee-Driven Payroll Solution.” Paycom characterized Beti as the “industry’s first self-service payroll technology allowing employees to do their own payroll, improving data accuracy, oversight and the user experience for businesses and their employees on each payroll cycle.”

A securities fraud class action complaint alleges that Paycom (NYSE: PAYC), via certain of its officers and directors, made materially false and/or misleading statements and/or failed to disclose that: (1) Paycom’s Beti product led to cannibalization of the Paycom’s services and revenues; (2) Paycom knew but failed to disclose that Beti was leading to cannibalization of Paycom’s services and revenues, and failed to warn of cannibalization as a general risk; (3) as a result of cannibalization of revenue, Paycom missed its expected 3Q23 revenue and would have to revise its expected 2023 revenues; (4) the cannibalization issue resulted in projected 2024 year-over-year revenue growth to between 10% and 12%, well below expectations; and (5) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

If you have continuously held Paycom shares since prior to February 9, 2022, you may seek corporate reforms, the return of funds back to company coffers, and a court approved incentive award at no cost to you.

If you would like to learn more about this matter at no cost to you, contact Joshua H. Grabar  at jgrabar@grabarlaw.com or Mia R. Heller at mheller@grabarlaw.com, or call 267-507-6085.