Here are the specific viewpoints from earnings call
Bullish Points:
1. Revenue growth of 16% year over year.
2. Excluding foreign filings, recurring revenue grew 20% year over year.
3. Adjusted operating margins expanded 130 basis points over the prior year.
4. Direct sales force grew nearly 70% over the last three years.
5. List PEPM reached $53, an increase of 20% year over year.
6. Product innovations announced to empower leaders and drive business performance.
7. Recognition by Nucleus Research as a leader in HCM for companies with fewer than 2,500 employees.
8. HR Tech awards by Lighthouse Research and Advisory for core HCM and talent management solutions.
9. Top Workplace USA 2024 award from Energage for the fourth consecutive year.
10. Customers with more than 1,000 employees grew at nearly twice the pace of overall employee growth.
Bearish Points:
1. Recurring revenue growth of 14% was weighed down by forms filing.
2. Year-end form filing volumes were slightly lower than anticipated.
3. ERTC claim processing slowed as the program winds down.
4. Same-store sales growth continued slowing, contributing less than 0.5 point of revenue growth in the quarter.
5. Guidance update to account for potential negative same-store sales growth among existing customers.
6. Embedded HCM deals have long cycle times and will have an immaterial impact in the fourth quarter.
7. Some deals are taking longer to close, which could impact short-term revenue growth.
8. Embedded HCM deals are not expected to contribute significantly to revenue in the current fiscal year.
9. The company has experienced elevated churn due to structural job issues within the organization.
10. Sales coverage expansion targets have been lowered from 20% to low to mid-teens account growth.
For more information about Paycor HCM, Inc.'s earnings call, you can read the relevant news: Paycor HCM (PYCR) Q3 2024 Earnings Call Transcript
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