Guidance RevisionAn unsettling revision to revenue guidance, reflecting a dwindling client base and the phasing out of the ERTC program.
Legislation ImpactWith bipartisan legislation that would end the ERTC program retroactively, a significant revenue contributor is halted.
Sector PerformanceThe cap-weighted index of HCM stocks, which includes the company, is lagging behind the broader market, signaling sector-specific headwinds.