The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how the HR software stocks have fared in Q4, starting with Asure (NASDAQ:ASUR).

Modern HR software has two powerful benefits: cost savings and ease of use. For cost savings, businesses large and small much prefer the flexibility of cloud-based, web-browser-delivered software paid for on a subscription basis rather than the hassle and complexity of purchasing and managing on-premise enterprise software. On the usability side, the consumerization of business software creates seamless experiences whereby multiple standalone processes like payroll processing and compliance are aggregated into a single, easy-to-use platform.

The 6 HR software stocks we track reported a weak Q4; on average, revenues beat analyst consensus estimates by 0.9% while next quarter's revenue guidance was 1.5% below consensus. Stocks have been under pressure as inflation (despite slowing) makes their long-dated profits less valuable, and while some of the HR software stocks have fared somewhat better than others, they have not been spared, with share prices declining 5.7% on average since the previous earnings results.

Asure (NASDAQ:ASUR)

Created from the merger of two small workforce management companies in 2007, Asure (NASDAQ:ASUR) provides cloud based payroll and HR software for small and medium-sized businesses (SMBs).

Asure reported revenues of $26.26 million, down 10.3% year on year, falling short of analyst expectations by 0.2%. It was a slower quarter for the company, with underwhelming revenue guidance for the next year.

“We are excited to have delivered another strong performance from our Company for the full year 2023. Total revenue for the year was up 24% versus the prior year, excluding ERTC revenues were up 19%. Our recurring revenues increased 16% for the year versus the prior year, excluding ERTC recurring revenues were up 19%. Organic revenue growth in 2023 excluding ERTC was up 18% and we also saw strong gains in gross margins versus the same period a year ago which are the primary result of increased revenues and more efficient operations driven by the consolidation and standardization efforts across the Company,” said Asure Chairman and CEO Pat Goepel.

Asure pulled off the highest full-year guidance raise but had the slowest revenue growth of the whole group. The stock is down 23.2% since the results and currently trades at $7.86.

Read our full report on Asure here, it's free.

Best Q4: Paycor (NASDAQ:PYCR)

Found in 1990 in Cincinnati, Ohio, Paycor (NASDAQ: PYCR) provides software for small businesses to manage their payroll and HR needs in one place.

Paycor reported revenues of $159.5 million, up 20.1% year on year, outperforming analyst expectations by 2.4%. It was a mixed quarter for the company, with a decent beat of analysts' billings estimates but underwhelming revenue guidance for the next quarter.

Paycor delivered the fastest revenue growth among its peers. The stock is down 1.9% since the results and currently trades at $19.21.

Is now the time to buy Paycor? Access our full analysis of the earnings results here, it's free.

Weakest Q4: Paylocity (NASDAQ:PCTY)

Founded by payroll software veteran Steve Sarowitz in 1997, Paylocity (NASDAQ:PCTY) is a provider of payroll and HR software for small and medium-sized enterprises.

Paylocity reported revenues of $326.4 million, up 19.5% year on year, in line with analyst expectations. It was a weak quarter for the company, with full-year revenue guidance missing analysts' expectations and underwhelming revenue guidance for the next quarter.

Paylocity had the weakest full-year guidance update in the group. The stock is down 0.5% since the results and currently trades at $171.46.

Read our full analysis of Paylocity's results here.

Paycom (NYSE:PAYC)

Founded in 1998 as one of the first online payroll companies, Paycom (NYSE:PAYC) provides software for small and medium-sized businesses (SMBs) to manage their payroll and HR needs in one place.

Paycom reported revenues of $434.6 million, up 17.3% year on year, surpassing analyst expectations by 2.9%. It was a weak quarter for the company, with underwhelming revenue guidance for the next year.

Paycom pulled off the biggest analyst estimates beat among its peers. The stock is up 0.1% since the results and currently trades at $199.01.

Read our full, actionable report on Paycom here, it's free.

Dayforce (NYSE:DAY)

Founded in 1992 as Ceridian, an outsourced payroll processor and transformed after the 2012 acquisition of Dayforce, Dayforce (NYSE:DAY) is a provider of cloud based payroll and HR software targeted at mid-sized businesses.

Dayforce reported revenues of $399.7 million, up 18.9% year on year, in line with analyst expectations. It was a weak quarter for the company, with underwhelming revenue guidance for the next year.

The company added 47,000 customers to reach a total of 6.39 million. The stock is down 7.9% since the results and currently trades at $65.6.

Read our full, actionable report on Dayforce here, it's free.

Join Paid Stock Investor Research

Help us make StockStory more helpful to investors like yourself. Join our paid user research session and receive a $50 Amazon gift card for your opinions. Sign up here.