← Robert Half International overview

Robert Half International vs Paycom Software: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Robert Half International Inc (RHI)

Q3 2026
▲2▼1

RHI's Q2 beat and salary-guide demand offset by weak guidance and Protiviti regulatory drag

  • Q2 revenue beat, but EPS fell and Q3 guidance disappointed Robert Half's Q2 revenue of $1.34 billion beat estimates by about 1%, but earnings per share fell to $0.26 from $0.41 a year earlier. Q3 guidance of $1.31–$1.41 billion and $0.43–$0.53 EPS came in below expectations, sending shares down 6.8%.

    This is the core earnings event that set the stock's direction this period.

  • Protiviti faces regulatory headwinds, pressuring margins On the Q2 call, management said Protiviti's consulting business is hurt by changes in U.S. financial services regulation and the wind-down of German public sector contracts. Fourth-quarter margins will face added regulatory costs and a shorter billing period, with relief not expected until early 2027.

    This explains a key drag on RHI's consulting segment and future margins.

  • 2027 Salary Guide shows strong demand for specialized and AI talent Robert Half's 2027 Salary Guide projects average pay increases of 1.9%, with in-demand roles up 3.3–3.9%. About 55% of employers are stretching pay budgets, and 72% will pay more for AI skills. This signals healthy demand for RHI's staffing and recruiting services.

    It points to a positive demand backdrop for RHI's core business.

  • Hiring rebound and dividend affirmation support the stock U.S. companies are signaling a hiring rebound, and RHI's CEO said AI's job-market impact is milder than feared. RHI also declared its regular $0.59 quarterly dividend, though it ended its buyback plan. These factors offer some support amid earnings volatility.

    It shows stabilizing demand and shareholder returns that can cushion the stock.

August 2026
▲2▼1

RHI's Q2 beat and salary-guide demand offset by weak guidance and Protiviti regulatory drag

  • Q2 revenue beat, but EPS fell and Q3 guidance disappointed Robert Half's Q2 revenue of $1.34 billion beat estimates by about 1%, but earnings per share fell to $0.26 from $0.41 a year earlier. Q3 guidance of $1.31–$1.41 billion and $0.43–$0.53 EPS came in below expectations, sending shares down 6.8%.

    This is the core earnings event that set the stock's direction this period.

  • Protiviti faces regulatory headwinds, pressuring margins On the Q2 call, management said Protiviti's consulting business is hurt by changes in U.S. financial services regulation and the wind-down of German public sector contracts. Fourth-quarter margins will face added regulatory costs and a shorter billing period, with relief not expected until early 2027.

    This explains a key drag on RHI's consulting segment and future margins.

  • 2027 Salary Guide shows strong demand for specialized and AI talent Robert Half's 2027 Salary Guide projects average pay increases of 1.9%, with in-demand roles up 3.3–3.9%. About 55% of employers are stretching pay budgets, and 72% will pay more for AI skills. This signals healthy demand for RHI's staffing and recruiting services.

    It points to a positive demand backdrop for RHI's core business.

  • Hiring rebound and dividend affirmation support the stock U.S. companies are signaling a hiring rebound, and RHI's CEO said AI's job-market impact is milder than feared. RHI also declared its regular $0.59 quarterly dividend, though it ended its buyback plan. These factors offer some support amid earnings volatility.

    It shows stabilizing demand and shareholder returns that can cushion the stock.

Latest
▲2▼1

RHI's Q2 beat and salary-guide demand offset by weak guidance and Protiviti regulatory drag

  • Q2 revenue beat, but EPS fell and Q3 guidance disappointed Robert Half's Q2 revenue of $1.34 billion beat estimates by about 1%, but earnings per share fell to $0.26 from $0.41 a year earlier. Q3 guidance of $1.31–$1.41 billion and $0.43–$0.53 EPS came in below expectations, sending shares down 6.8%.

    This is the core earnings event that set the stock's direction this period.

  • Protiviti faces regulatory headwinds, pressuring margins On the Q2 call, management said Protiviti's consulting business is hurt by changes in U.S. financial services regulation and the wind-down of German public sector contracts. Fourth-quarter margins will face added regulatory costs and a shorter billing period, with relief not expected until early 2027.

    This explains a key drag on RHI's consulting segment and future margins.

  • 2027 Salary Guide shows strong demand for specialized and AI talent Robert Half's 2027 Salary Guide projects average pay increases of 1.9%, with in-demand roles up 3.3–3.9%. About 55% of employers are stretching pay budgets, and 72% will pay more for AI skills. This signals healthy demand for RHI's staffing and recruiting services.

    It points to a positive demand backdrop for RHI's core business.

  • Hiring rebound and dividend affirmation support the stock U.S. companies are signaling a hiring rebound, and RHI's CEO said AI's job-market impact is milder than feared. RHI also declared its regular $0.59 quarterly dividend, though it ended its buyback plan. These factors offer some support amid earnings volatility.

    It shows stabilizing demand and shareholder returns that can cushion the stock.

Paycom Software, Inc. (PAYC)

Q3 2026
▲2▼2

Paycom's Q2 Beat and Raised Outlook Drive a Sharp Rebound

  • Q2 earnings beat and raised guidance Paycom reported Q2 revenue of $531.2 million, beating estimates by 3.5%, and adjusted EPS of $2.78, well above the $2.38 expected. Management raised full-year revenue guidance to about $2.20 billion and issued EBITDA guidance above consensus. The stock jumped sharply on the news, as the results showed the business is growing faster and more profitably than Wall Street feared.

    This is the main new event that directly answers why PAYC is moving right now.

  • Profit margins expanded significantly Paycom's operating margin expanded to 31.7% from 23.2% a year earlier, and adjusted EBITDA of $235 million topped forecasts by over 10%. Billings rose 9.4% year over year. This shows the company is not just growing sales but keeping much more of each dollar as profit, which supports a higher stock price.

    Margin expansion is a key new fundamental driver behind the positive price reaction.

  • Fed rate-hike signals pressured software stocks In mid-June, the Federal Reserve removed expectations of a 2026 rate cut and introduced the possibility of a hike, pushing up Treasury yields. That lowers the present value of future profits for software companies like Paycom, whose value depends heavily on earnings years away. Paycom shares fell on that news, part of a broader rotation out of high-multiple growth stocks.

    This explains the negative pressure on PAYC earlier in the period and remains a real counterweight.

  • Weaker growth than HR software peers In a June peer comparison, Paycom's revenue growth of 7.8% was the slowest among major HR software companies, and its results were the weakest relative to estimates. Paylocity and Paychex posted stronger growth and beat estimates by wider margins. This competitive gap is a concern that can hold back Paycom's stock even after a good quarter.

    It provides a fair counterweight by showing Paycom still lags some competitors on growth.

July 2026
▲2▼2

Paycom's Q2 Beat and Raised Outlook Drive a Sharp Rebound

  • Q2 earnings beat and raised guidance Paycom reported Q2 revenue of $531.2 million, beating estimates by 3.5%, and adjusted EPS of $2.78, well above the $2.38 expected. Management raised full-year revenue guidance to about $2.20 billion and issued EBITDA guidance above consensus. The stock jumped sharply on the news, as the results showed the business is growing faster and more profitably than Wall Street feared.

    This is the main new event that directly answers why PAYC is moving right now.

  • Profit margins expanded significantly Paycom's operating margin expanded to 31.7% from 23.2% a year earlier, and adjusted EBITDA of $235 million topped forecasts by over 10%. Billings rose 9.4% year over year. This shows the company is not just growing sales but keeping much more of each dollar as profit, which supports a higher stock price.

    Margin expansion is a key new fundamental driver behind the positive price reaction.

  • Fed rate-hike signals pressured software stocks In mid-June, the Federal Reserve removed expectations of a 2026 rate cut and introduced the possibility of a hike, pushing up Treasury yields. That lowers the present value of future profits for software companies like Paycom, whose value depends heavily on earnings years away. Paycom shares fell on that news, part of a broader rotation out of high-multiple growth stocks.

    This explains the negative pressure on PAYC earlier in the period and remains a real counterweight.

  • Weaker growth than HR software peers In a June peer comparison, Paycom's revenue growth of 7.8% was the slowest among major HR software companies, and its results were the weakest relative to estimates. Paylocity and Paychex posted stronger growth and beat estimates by wider margins. This competitive gap is a concern that can hold back Paycom's stock even after a good quarter.

    It provides a fair counterweight by showing Paycom still lags some competitors on growth.

Latest
▲2▼2

Paycom's Q2 Beat and Raised Outlook Drive a Sharp Rebound

  • Q2 earnings beat and raised guidance Paycom reported Q2 revenue of $531.2 million, beating estimates by 3.5%, and adjusted EPS of $2.78, well above the $2.38 expected. Management raised full-year revenue guidance to about $2.20 billion and issued EBITDA guidance above consensus. The stock jumped sharply on the news, as the results showed the business is growing faster and more profitably than Wall Street feared.

    This is the main new event that directly answers why PAYC is moving right now.

  • Profit margins expanded significantly Paycom's operating margin expanded to 31.7% from 23.2% a year earlier, and adjusted EBITDA of $235 million topped forecasts by over 10%. Billings rose 9.4% year over year. This shows the company is not just growing sales but keeping much more of each dollar as profit, which supports a higher stock price.

    Margin expansion is a key new fundamental driver behind the positive price reaction.

  • Fed rate-hike signals pressured software stocks In mid-June, the Federal Reserve removed expectations of a 2026 rate cut and introduced the possibility of a hike, pushing up Treasury yields. That lowers the present value of future profits for software companies like Paycom, whose value depends heavily on earnings years away. Paycom shares fell on that news, part of a broader rotation out of high-multiple growth stocks.

    This explains the negative pressure on PAYC earlier in the period and remains a real counterweight.

  • Weaker growth than HR software peers In a June peer comparison, Paycom's revenue growth of 7.8% was the slowest among major HR software companies, and its results were the weakest relative to estimates. Paylocity and Paychex posted stronger growth and beat estimates by wider margins. This competitive gap is a concern that can hold back Paycom's stock even after a good quarter.

    It provides a fair counterweight by showing Paycom still lags some competitors on growth.