|Bid||32.07 x 1800|
|Ask||32.48 x 2900|
|Day's Range||31.70 - 32.52|
|52 Week Range||26.38 - 51.47|
|Beta (3Y Monthly)||0.42|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||45.50|
(Bloomberg) -- The MeToo movement has helped uncover the many ways men abuse positions of power, as well as the corporate fixers and financial settlements that enable such behavior. But what happens at a company just getting its start, with a few dozen employees, a board consisting of three men and no HR department?For Priyanka Wali, the experience was disillusioning. Soon after going to work for a two-year-old health care startup in San Francisco, she said her boss touched her knee and later commented in a meeting that he “wouldn’t mind” if she were his girlfriend. Wali, a contract physician, didn’t report the alleged behavior when it occurred in 2016, she said, because the company, Virta Health Corp., didn’t have a human resources department at the time.The situation festered until this year, when she and a colleague filed formal complaints with the company against the same manager. Virta, which now has 165 employees and a three-person HR team, commissioned an investigation in March and found their claims of harassment to be credible, according to a copy of the report reviewed by Bloomberg. The initial determination was that Wali would keep reporting to her boss because there wasn’t another manager available. That sparked an uproar in the office, and she was eventually reassigned to a new boss. But by then, damage had been done, former employees said. Their faith in management had been shaken, and several people said they sought jobs elsewhere as a result.“It is already hard enough to come forward after experiencing harassment,” Wali wrote in an email to Bloomberg. “I came forward to HR, and I ended up experiencing more stress as a result and had to eventually leave my job for my own psychological wellness.”Sami Inkinen, Virta’s chief executive officer, said in an emailed statement that his company “immediately took the complaint very seriously, worked hard to get the process right but should have handled parts of it better.” The company held an all-hands meeting in May, he said, “to openly acknowledge where we fell short, to explain what we did right and establish the highest possible bar for handling situations like this in the future.”A Virta spokesman said the initial decision to have Wali continue reporting to her manager was “a mistake” and that the company has taken steps to improve. The alleged harasser, Michael Scahill, no longer works at Virta. “I was very saddened and sorry to learn, years after the events, that some of my actions offended colleagues whom I respect greatly,” Scahill wrote in a email. “I never wanted to upset anyone and have apologized to those involved.”The allegations, whispered about within the office over the last couple years, caught the attention of the San Francisco Business Times in August, when the newspaper reported on a company investigation into claims by two unnamed women. One of the women, Wali, spoke to Bloomberg, as did three other employees who were there at the time. Their accounts, along with the investigator’s statement, shed new light on a dynamic that routinely goes unreported at very young companies and illustrates how workers can feel helpless when a startup isn’t equipped to field their complaints. California law extends sexual harassment protections to independent contractors, but neither woman has filed a lawsuit.“I came forward to HR, and I ended up experiencing more stress as a result.”For all the horror stories about established corporate policies and HR departments failing to protect employees or worse, the alternative can be similarly destructive. Many entrepreneurs wait years before establishing HR departments, said Elaine Varelas, a managing partner at Keystone Partners, an HR consulting and executive coaching firm. Startups tend to prioritize other specialties, such as finance or legal, as a cost-saving decision that can leave employees without recourse and allow culture problems to linger, Varelas said. “They say it’s for money, or they’ll say they have an employment attorney,” she said, “but it’s not the same.”Good HR policies can be undervalued at startups, Varelas said. Companies rarely advertise their response to sexual misconduct claims, despite how commonplace the issue is today. “Women aren’t going to work at a company that ‘deals with sexual harassment well,’” she said. “It’s not an enticing ad.”Inkinen started Virta in 2014 with two nutrition researchers and a noble mission: reverse diabetes in 100 million people. The Finland-born entrepreneur, a competitive cyclist and triathlete who once rowed across the Pacific Ocean with his wife, had little experience in health care but plenty at big companies. He worked at McKinsey & Co. and Microsoft Corp. He then helped start and run Trulia, a real estate search engine, until Zillow Group Inc. bought the company in 2014. For Virta, Inkinen would go on to raise more than $80 million from investors, including Venrock and Playground Global, an incubator founded by former Google executive Andy Rubin.Wali, a doctor specializing in internal medicine and obesity treatments, was working with patients and teaching medical students in the San Francisco Bay Area when Virta was starting up. She joined the company in late 2016 as a contractor, with the hope of soon getting promoted to full time. That plan quickly got complicated. In her first week on the job, Wali’s boss put his hand on her knee during a one-on-one meeting, according to the legal investigator’s report. Although it’s not covered in the report, Wali said the touching happened more than once. He made the comment about not minding if she were his girlfriend on a video conference call with colleagues present, according to Wali and the report. (Wali declined to name the man, but the report identifies him as Scahill.)In Virta’s early days, the company’s chief of staff handled what typically would be considered HR responsibilities. Virta hired a head of HR in October 2016, but she lasted less than two months—departing just two days before the alleged touching began, Wali said. A new chief of staff took on HR responsibilities. But Wali said it wasn’t clear to her who was in charge of HR at that time and that she saw no options for recourse. “I was worried that if I spoke up to someone in upper management about my boss’s behavior, it would jeopardize my chance of being hired as a full-time physician,” Wali wrote. “I kept quiet.” About a week later, Scahill invited her to join him at a medical society gala that he had initially planned to bring his girlfriend to, she said. His reasoning, she said, was that they could network together. She declined and purchased her own ticket.Around the same time, according to the investigator’s report, Scahill made repeated comments to another female contractor at Virta. He complimented her appearance and told her once that she was “gorgeous,” the woman told the investigator.Workers began making efforts to communicate the alleged behavior to management in 2017. The second woman contributed feedback for Scahill’s performance review that year describing him as “too flirtatious in the workplace,” though his supervisors didn’t read the responses before passing it on to him, the company spokesman said. In a survey the next year, a male employee wrote that Scahill “has made several disrespectful comments about women.” The feedback was reviewed by a supervisor, who discussed it with Scahill, the spokesman said.Like in other offices across the U.S., management at Virta were closely monitoring the fallout from the MeToo movement. The company put out its first employee handbook in April 2018, outlining a policy against harassment in the workplace, and instated a website for employees to share feedback and complaints anonymously. However, Virta still lacked a head of HR and reopened a search for the role in August that year. The general counsel was overseeing personnel matters, alongside legal functions, finance and other areas. At a staff meeting in October 2018, a worker asked about a post on the employer review site Glassdoor that referenced sexual harassment at Virta. Inkinen, the CEO, responded that the fastest way to get fired at Virta was to harass someone, according to a former employee who attended the meeting.Virta hired a new head of HR in January. A couple months later, Wali discovered she wasn’t the only one with concerns about Scahill. Colleagues openly discussed his behavior at a happy hour event in the office that Wali attended. Wali filed a complaint with the new HR boss, as did the second woman.In response, Virta hired an attorney from an employment law firm to investigate. Over the course of a week, the lawyer interviewed the two women, Scahill and six other employees. The resulting report described allegations of inappropriate comments and touching as credible and said he had stopped the behavior after early or mid-2017.Meanwhile, HR was staffing up. An HR representative, by then one of three people in the department, met with Wali in April and recounted the investigator’s findings, Wali said. She also learned in the meeting that she would still need to have the same boss, she said. “I asked the HR manager how on earth I could be asked to continue reporting to someone who had touched me inappropriately and made comments to me that made me feel uncomfortable?” Wali wrote in an email to Bloomberg.Distressed, Wali took time off to process the news. Virta management acknowledges it didn’t share the results of the investigation with staff, but word spread quickly of the report’s conclusions, former employees said. Some cited an inconsistency with what Inkinen had said the year before about taking a hard line on sexual harassment, one of the people said. Several asked their managers why Wali wasn’t offered a different boss.Four days after Wali was told she’d keep the same boss, Virta contacted her to schedule a call about the situation. She heard from another manager four days after that saying she could now report to him. She asked him to elaborate on the decision-making process and didn’t get a clear answer, she said. “At this point, I became very uncomfortable with how the company handled harassment in the workplace—specifically with what I felt was a lack of accountability and transparency with these decisions,” Wali wrote.Wali and the second woman quit on the same day in early May. Soon after, Virta executives asked for Scahill’s resignation. The following Monday, Inkinen held another staff meeting, this time to apologize. He said the company had made a misstep in not taking into account the emotional safety of its workers, according to a former employee who attended. The message didn’t stop several other Virta employees from leaving and citing the handling of the complaint as an impetus, said two ex-employees.One person who quit over the issue said they lost faith that executives took the welfare of their workers seriously. “No one reports stuff for fun,” the former employee said. “I think they underestimated the impact this would have on the team.”To contact the author of this story: Ellen Huet in San Francisco at firstname.lastname@example.orgTo contact the editor responsible for this story: Mark Milian at email@example.com, Anne VanderMeyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Moderate inventory gains ahead of home shopping season were erased as new listings slowed, and buyer demand may be picking back up - For-sale inventory continued to fall in September after a mild recovery ...
You can buy a mansion for $1 million in four Texas cities, while $1 million often won't even get you a second bedroom in San Francisco. - The typical $1 million home in the U.S. has four bedrooms, two-and-a-half ...
Conference Call to be Webcast Live at 2 p.m. PT / 5 p.m. ET SEATTLE , Oct. 14, 2019 /PRNewswire/ -- Zillow Group, Inc. (NASDAQ: Z) (NASDAQ: ZG), which is transforming how people buy, sell, rent, and finance ...
Paycom (NYSE:PAYC) is a software-as-a-service provider that specializes in HCM. Not up on the hip acronyms? The company provides software and cloud-based applications online. And it focuses on the relatively new sector that businesses term "human capital management."Source: STEFANY LUNA DE LINZY / Shutterstock.com Back in the day, HCM was more or less human resources. But now, as the workplace has become digitized -- especially for enterprise-level and larger firms -- it has all been bunched together as HCM.Paycom provides a service that is built to help provide all the resources a company needs to manage its human capital -- from recruitment to retirement. And if you've ever worked for a big company, you can understand why this is so attractive. It's a business model with deep penetration and high barriers to competition. In short, it's an attractive play for my Growth Investor model portfolio.InvestorPlace - Stock Market News, Stock Advice & Trading Tips The Future of Human ResourcesGenerally, big organizations have different systems that operate within divisions, and then those divisions need to communicate and interact with each other. That means layers of permissions and access protocols. Even within a division, like HR for example, there may be various providers for payroll, benefits, onboarding, recruitment and 401ks. And all this software is being updated at various times. And backed up.The more systems you have running, the more complicated it is.That's why the new generation of platforms look at the challenges more holistically. And that's what PAYC stock is all about. * 10 Super Boring Stocks to Buy With Super Safe Returns Paycom started as one of the first fully online payroll companies in the United States. And since then, it has expanded to build out its suite of HR solutions. What's more, PAYC also works its solutions across numerous industries; it isn't focused on just one or two sectors. That helps broaden its ability to grow, since not all sectors grow at the same time.The company's popularity continues to grow. Since its IPO in 2014, PAYC stock is up over 1,200%, or more than 240% a year. That makes its current year-to-date performance of nearly 80% look tame by comparison. I'm expecting more, given the strong fundamentals identified by my Portfolio Grader tool, so it earns a spot among my High-Growth Investments at Growth Investor.But the stock is off about 10% since mid-September, so this is a good opportunity to get in. It actually lost nearly 20% but has regained about half those losses already. Bottom Line on PAYC StockBecause Paycom is growing so fast, you could expect PAYC stock to have a triple-digit price-to-earnings ratio. But you'd be wrong. Its trailing P/E is currently around 83, which isn't cheap, but it's in line with the company's growth.October holds a lot of volatility historically, and right now, there's more optimism shining through. The U.S.-China trade war may be softening and Brexit may end less negatively than expected. This will boost business confidence, and in turn, the fortunes of PAYC.Plus, there is always talk that some big tech player may step in and acquire the company, likely at a premium to its premium.All this gives you an idea of why my Portfolio Grader continues to rate PAYC stock an "A." And I've got more where that came from. There's a bigger, deeper tech trend going on that I'm even more excited about. "The Mother of All Technologies"Any company that's involved in software-as-a-service -- or dealing in massive amounts of data more generally -- will need "the mother of all technologies."Up until now, technologies have certainly made our lives easier and more efficient … but with a lot of room for human error. People trip over cords, spill their coffee and get tired.Artificial intelligence does not.If that sounds futuristic, well then, the future is already here. If you use apps like Netflix (NASDAQ:NFLX), TurboTax, QuickBooks, Zillow (NASDAQ:Z) or even an email spam filter, then AI is already helping your day run more smoothly. And as scientists find even more applications for artificial intelligence -- from healthcare to retail to self-driving cars -- it's incredible to imagine how much data will be involved.To create AI programs in the first place, tech companies must collect vast amounts of data on human decisions. Data is what powers every AI system.So any one company that can help with customers' data issues is the one company that's most worth investing in.You don't need to be an expert to take part. I'll tell you everything you need to know, as well as my "buy" recommendation, in Growth Investor. My 1 stock for the AI trend is still under my buy limit price -- so you'll want to sign up now. Get in while its still cheap.Click here for a free briefing on this groundbreaking innovation.Louis Navellier had an unconventional start, as a grad student who accidentally built a market-beating stock system -- with returns rivaling even Warren Buffett. In his latest feat, Louis discovered the "Master Key" to profiting from the biggest tech revolution of this (or any) generation. Louis Navellier may hold some of the aforementioned securities in one or more of his newsletters. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Super Boring Stocks to Buy With Super Safe Returns * 10 Winning Stocks to Buy and Stick With for the Long Haul * Don't Give Up on These 4 Cannabis Stocks The post Paycom Stock Will Keep Its Streak Alive appeared first on InvestorPlace.
Artificial intelligence in housing won’t just eliminate Realtors. It could completely change the way we buy, sell and live.
The process of selling a home can be difficult -- 95% of home sellers said they consider some aspect of selling a home stressful. Not knowing if a home will sell within the desired time frame is the largest source of stress for sellers, with 56% of them calling it a stressful experience. One reason timing and financing a home sale can be stressful is that many home sellers (64%) are buying another home at the same time.
SEATTLE, Oct. 9, 2019 /PRNewswire/ -- Zillow Group, Inc. (NASDAQ:Z) (ZG) announced today that the initial purchasers of the previously announced private offering of its 0.75% convertible senior notes due 2024 (the "2024 Notes") elected to exercise their option to purchase an additional $73 million aggregate principal amount of the Notes (the "Additional Notes"). The closing of the Additional Notes occurred today. The net proceeds from the Additional Notes were approximately $72.0 million after deducting the initial purchasers' discounts and commissions and offering expenses payable by Zillow Group.
SEATTLE, Oct. 8, 2019 /PRNewswire/ -- Latinxs are buying homes are a higher rate than the overall U.S. population, beginning to close a gap between the Hispanic and white homeownership rate that has tripled since the start of last century. The typical Latinx household in the U.S. earns 75.7% of the typical white household income, and the typical Latinx household wealth is only 12.2% of the typical white household wealth. Despite recent gains, the gap -- sitting at 24.7 percentage points in 2018 -- will take decades to close if the current pace holds.
Starting today, home sellers in Sacramento can skip the work of preparing their home for sale and instead sell directly to Zillow through Zillow Offers. Homeowners interested in selling their home directly to Zillow can simply enter their address on Zillow's website or mobile app, answer a few basic questions about their home, and if their home qualifies, they will receive an initial cash offer from Zillow within 48 hours. With Zillow Offers, sellers don't need to make any binding decisions until after their home has been evaluated in person.
South Florida’s housing market has a new player: online real estate database Zillow. In August, the company (Nasdaq: ZG) entered South Florida’s e-commerce home sales market with Zillow Offers, which buys, renovates and flips homes. Zillow’s high profile with both buyers and sellers is enhancing its footprint in South Florida, with hundreds of millions of dollars invested in this program.
The U.S. housing market rebounded in August with a surge in existing home sales and permits to add new inventory. Too bad the acceleration stopped just short of America's wealthiest neighborhoods.
More young people today have recently moved into their current home than those in previous decades - The share of 25- to 34-year-olds who have lived in their current home for less than two years rose from ...
Gordon Smith, the founder and CEO at Biproxi , an end-to-end solution for the commercial real estate space, discussed increasing liquidity and defragmenting the middle market in an interview with Benzinga. ...
The Institute for Policy Studies report coincides with Bernie Sanders’s income inequality tax proposal. A study of 4,500 people over 13 years and published in the American Journal of Preventive Medicine comes to some surprising conclusions. Participants with high genetic risk and an unfavorable lifestyle were almost three times more likely to develop dementia versus those with a low genetic risk and favorable lifestyle.
(Bloomberg) -- Medical debts are more likely than other kinds to get in the way of Americans trying to buy or rent a home, according to an annual survey by real-estate data firm Zillow.The survey found that 38% of people who owe money for health care said they’d been turned down for a mortgage or home rental because of those liabilities -- a higher rate of rejection than for other kinds of debt like student loans or credit cards.While much attention has been paid to student debt as an obstacle to home-ownership among millennials, the Zillow survey found that about 1 in 5 would-be buyers in that age group are hampered by medical debt too.Some measures show that U.S. housing affordability has been improving in recent years. But Zillow said that incomes aren’t keeping up with the cost of buying or renting a home -- and that the growing debt burden Americans are incurring to pay for college or health care is making the situation worse.The Zillow survey asked 13,000 U.S. adults who are household decision makers about their homes.To contact the reporter on this story: Alex Tanzi in Washington at firstname.lastname@example.orgTo contact the editor responsible for this story: Ben Holland at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Since at least the 1960s, housing has become a major investment tool and a means of generating retirement savings or even income in the US. But the way to reap returns on your home isn't just by owning it - but by selling it.
SEATTLE, Sept. 30, 2019 /PRNewswire/ -- Aspiring home buyers with medical debt are more likely than others to be denied a mortgage, while those with student loan debt more often put off buying. Personal debt – particularly credit card, student loan and medical – tremendously impacts the type and features of home someone can afford, their timeline for buying a home, their ability to afford an adequate down payment and, ultimately, whether or not they are approved for a mortgage, according to the report, the largest and most comprehensive survey of real estate consumers. More than two thirds of renters have debt, and about a quarter of renters and home buyers said their debt caused them to be denied either a rental agreement or a mortgage at some point.
PERSONAL FINANCE DAILY Happy Friday, MarketWatchers! Don’t miss these top stories: These 10 solid U.S. colleges prove you don’t need Harvard or Yale to achieve the American Dream State and local public universities help low-income kids move into the middle class and beyond.
SEATTLE , Sept. 27, 2019 /PRNewswire/ -- Zillow Group, Inc. (NASDAQ:Z) (NASDAQ:ZG) today announced that on September 26, 2019 , the compensation committee of its Board of Directors granted equity awards ...
Rent appreciation is slowing in many of the country's hottest rental markets, but many affordable metro areas are seeing faster price increases compared to just three months ago. - The U.S. median rent ...