Intrinsic value of Paycom Software - PAYC

Previous Close

$123.70

  Intrinsic Value

$165.05

stock screener

  Rating & Target

buy

+33%

Previous close

$123.70

 
Intrinsic value

$165.05

 
Up/down potential

+33%

 
Rating

buy

We calculate the intrinsic value of PAYC stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 7.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  31.10
  28.49
  26.14
  24.03
  22.12
  20.41
  18.87
  17.48
  16.24
  15.11
  14.10
  13.19
  12.37
  11.63
  10.97
  10.37
  9.84
  9.35
  8.92
  8.53
  8.17
  7.86
  7.57
  7.31
  7.08
  6.87
  6.69
  6.52
  6.37
  6.23
Revenue, $m
  568
  729
  920
  1,141
  1,394
  1,678
  1,995
  2,344
  2,724
  3,136
  3,578
  4,050
  4,551
  5,081
  5,638
  6,223
  6,835
  7,474
  8,141
  8,835
  9,557
  10,307
  11,088
  11,899
  12,741
  13,617
  14,528
  15,474
  16,460
  17,485
Variable operating expenses, $m
  453
  581
  731
  905
  1,105
  1,329
  1,579
  1,854
  2,154
  2,479
  2,822
  3,195
  3,590
  4,008
  4,447
  4,909
  5,391
  5,896
  6,421
  6,969
  7,538
  8,131
  8,746
  9,386
  10,050
  10,741
  11,459
  12,206
  12,983
  13,792
Fixed operating expenses, $m
  7
  7
  7
  8
  8
  8
  8
  8
  9
  9
  9
  9
  9
  9
  10
  10
  10
  10
  11
  11
  11
  11
  12
  12
  12
  12
  13
  13
  13
  13
Total operating expenses, $m
  460
  588
  738
  913
  1,113
  1,337
  1,587
  1,862
  2,163
  2,488
  2,831
  3,204
  3,599
  4,017
  4,457
  4,919
  5,401
  5,906
  6,432
  6,980
  7,549
  8,142
  8,758
  9,398
  10,062
  10,753
  11,472
  12,219
  12,996
  13,805
Operating income, $m
  107
  141
  182
  228
  281
  341
  408
  481
  562
  648
  747
  846
  952
  1,064
  1,181
  1,304
  1,433
  1,568
  1,709
  1,855
  2,007
  2,166
  2,330
  2,501
  2,679
  2,864
  3,056
  3,255
  3,463
  3,679
EBITDA, $m
  134
  174
  222
  277
  339
  410
  489
  575
  670
  772
  882
  999
  1,124
  1,256
  1,394
  1,540
  1,692
  1,851
  2,016
  2,189
  2,369
  2,555
  2,749
  2,951
  3,161
  3,378
  3,605
  3,840
  4,085
  4,340
Interest expense (income), $m
  1
  2
  23
  49
  79
  114
  154
  199
  250
  305
  365
  430
  501
  575
  655
  739
  827
  920
  1,017
  1,118
  1,224
  1,334
  1,448
  1,567
  1,691
  1,820
  1,953
  2,092
  2,236
  2,386
  2,542
Earnings before tax, $m
  106
  118
  133
  149
  167
  187
  208
  232
  257
  283
  316
  346
  377
  409
  442
  477
  514
  551
  591
  631
  674
  717
  763
  810
  859
  911
  964
  1,019
  1,077
  1,137
Tax expense, $m
  29
  32
  36
  40
  45
  50
  56
  63
  69
  76
  85
  93
  102
  110
  119
  129
  139
  149
  159
  170
  182
  194
  206
  219
  232
  246
  260
  275
  291
  307
Net income, $m
  77
  86
  97
  109
  122
  136
  152
  169
  187
  207
  231
  252
  275
  298
  323
  348
  375
  403
  431
  461
  492
  524
  557
  591
  627
  665
  704
  744
  786
  830

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,035
  2,615
  3,298
  4,090
  4,995
  6,015
  7,150
  8,400
  9,764
  11,240
  12,825
  14,516
  16,312
  18,210
  20,208
  22,304
  24,498
  26,789
  29,178
  31,665
  34,254
  36,944
  39,741
  42,648
  45,668
  48,807
  52,070
  55,464
  58,995
  62,670
Adjusted assets (=assets-cash), $m
  2,035
  2,615
  3,298
  4,090
  4,995
  6,015
  7,150
  8,400
  9,764
  11,240
  12,825
  14,516
  16,312
  18,210
  20,208
  22,304
  24,498
  26,789
  29,178
  31,665
  34,254
  36,944
  39,741
  42,648
  45,668
  48,807
  52,070
  55,464
  58,995
  62,670
Revenue / Adjusted assets
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
Average production assets, $m
  195
  251
  317
  393
  479
  577
  686
  806
  937
  1,079
  1,231
  1,393
  1,566
  1,748
  1,939
  2,141
  2,351
  2,571
  2,800
  3,039
  3,288
  3,546
  3,814
  4,093
  4,383
  4,684
  4,998
  5,323
  5,662
  6,015
Working capital, $m
  -12
  -15
  -19
  -24
  -29
  -35
  -42
  -49
  -57
  -66
  -75
  -85
  -96
  -107
  -118
  -131
  -144
  -157
  -171
  -186
  -201
  -216
  -233
  -250
  -268
  -286
  -305
  -325
  -346
  -367
Total debt, $m
  433
  908
  1,468
  2,117
  2,858
  3,693
  4,622
  5,646
  6,763
  7,972
  9,270
  10,655
  12,126
  13,680
  15,316
  17,033
  18,830
  20,707
  22,663
  24,700
  26,820
  29,024
  31,314
  33,695
  36,168
  38,739
  41,412
  44,192
  47,083
  50,093
Total liabilities, $m
  1,667
  2,141
  2,701
  3,350
  4,091
  4,926
  5,856
  6,880
  7,997
  9,205
  10,503
  11,889
  13,360
  14,914
  16,550
  18,267
  20,064
  21,940
  23,897
  25,934
  28,054
  30,257
  32,548
  34,928
  37,402
  39,973
  42,646
  45,425
  48,317
  51,327
Total equity, $m
  368
  473
  597
  740
  904
  1,089
  1,294
  1,520
  1,767
  2,034
  2,321
  2,627
  2,952
  3,296
  3,658
  4,037
  4,434
  4,849
  5,281
  5,731
  6,200
  6,687
  7,193
  7,719
  8,266
  8,834
  9,425
  10,039
  10,678
  11,343
Total liabilities and equity, $m
  2,035
  2,614
  3,298
  4,090
  4,995
  6,015
  7,150
  8,400
  9,764
  11,239
  12,824
  14,516
  16,312
  18,210
  20,208
  22,304
  24,498
  26,789
  29,178
  31,665
  34,254
  36,944
  39,741
  42,647
  45,668
  48,807
  52,071
  55,464
  58,995
  62,670
Debt-to-equity ratio
  1.180
  1.920
  2.460
  2.860
  3.160
  3.390
  3.570
  3.710
  3.830
  3.920
  3.990
  4.060
  4.110
  4.150
  4.190
  4.220
  4.250
  4.270
  4.290
  4.310
  4.330
  4.340
  4.350
  4.370
  4.380
  4.390
  4.390
  4.400
  4.410
  4.420
Adjusted equity ratio
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  77
  86
  97
  109
  122
  136
  152
  169
  187
  207
  231
  252
  275
  298
  323
  348
  375
  403
  431
  461
  492
  524
  557
  591
  627
  665
  704
  744
  786
  830
Depreciation, amort., depletion, $m
  27
  33
  40
  48
  58
  69
  81
  94
  108
  124
  135
  153
  172
  192
  213
  235
  258
  283
  308
  334
  361
  390
  419
  450
  482
  515
  549
  585
  622
  661
Funds from operations, $m
  104
  119
  137
  157
  180
  205
  233
  263
  296
  330
  366
  405
  447
  490
  536
  584
  633
  685
  739
  795
  853
  913
  976
  1,041
  1,109
  1,179
  1,253
  1,329
  1,408
  1,491
Change in working capital, $m
  -3
  -3
  -4
  -5
  -5
  -6
  -7
  -7
  -8
  -9
  -9
  -10
  -11
  -11
  -12
  -12
  -13
  -13
  -14
  -15
  -15
  -16
  -16
  -17
  -18
  -18
  -19
  -20
  -21
  -22
Cash from operations, $m
  107
  122
  141
  162
  185
  211
  240
  270
  304
  339
  375
  415
  457
  502
  548
  596
  646
  698
  753
  809
  868
  929
  992
  1,058
  1,127
  1,198
  1,272
  1,349
  1,429
  1,512
Maintenance CAPEX, $m
  -16
  -21
  -28
  -35
  -43
  -53
  -63
  -75
  -89
  -103
  -119
  -135
  -153
  -172
  -192
  -213
  -235
  -258
  -283
  -308
  -334
  -361
  -390
  -419
  -450
  -482
  -515
  -549
  -585
  -622
New CAPEX, $m
  -46
  -56
  -66
  -76
  -87
  -98
  -109
  -120
  -131
  -142
  -152
  -162
  -172
  -182
  -192
  -201
  -211
  -220
  -229
  -239
  -248
  -258
  -268
  -279
  -290
  -301
  -313
  -326
  -339
  -353
Cash from investing activities, $m
  -62
  -77
  -94
  -111
  -130
  -151
  -172
  -195
  -220
  -245
  -271
  -297
  -325
  -354
  -384
  -414
  -446
  -478
  -512
  -547
  -582
  -619
  -658
  -698
  -740
  -783
  -828
  -875
  -924
  -975
Free cash flow, $m
  44
  45
  48
  51
  55
  61
  67
  75
  84
  95
  105
  118
  132
  147
  164
  182
  200
  220
  241
  263
  286
  310
  334
  360
  387
  415
  444
  474
  505
  538
Issuance/(repayment) of debt, $m
  398
  475
  560
  649
  741
  835
  930
  1,024
  1,117
  1,208
  1,298
  1,385
  1,471
  1,554
  1,636
  1,717
  1,797
  1,877
  1,957
  2,037
  2,120
  2,204
  2,291
  2,380
  2,474
  2,571
  2,673
  2,780
  2,892
  3,010
Issuance/(repurchase) of shares, $m
  10
  19
  27
  35
  42
  48
  53
  57
  59
  60
  56
  54
  50
  45
  39
  31
  22
  12
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  408
  494
  587
  684
  783
  883
  983
  1,081
  1,176
  1,268
  1,354
  1,439
  1,521
  1,599
  1,675
  1,748
  1,819
  1,889
  1,958
  2,037
  2,120
  2,204
  2,291
  2,380
  2,474
  2,571
  2,673
  2,780
  2,892
  3,010
Total cash flow (excl. dividends), $m
  452
  539
  634
  735
  838
  944
  1,050
  1,156
  1,261
  1,363
  1,459
  1,557
  1,653
  1,747
  1,839
  1,929
  2,019
  2,109
  2,199
  2,300
  2,405
  2,513
  2,625
  2,741
  2,861
  2,986
  3,117
  3,253
  3,397
  3,547
Retained Cash Flow (-), $m
  -87
  -105
  -124
  -143
  -164
  -185
  -205
  -226
  -247
  -267
  -287
  -306
  -325
  -343
  -362
  -379
  -397
  -415
  -432
  -450
  -468
  -487
  -506
  -526
  -547
  -568
  -591
  -614
  -639
  -665
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  364
  434
  511
  591
  674
  759
  845
  930
  1,014
  1,096
  1,172
  1,251
  1,328
  1,403
  1,477
  1,550
  1,622
  1,694
  1,766
  1,850
  1,937
  2,026
  2,119
  2,214
  2,314
  2,418
  2,526
  2,639
  2,758
  2,882
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  349
  397
  444
  487
  523
  551
  571
  581
  582
  575
  557
  534
  505
  471
  434
  394
  353
  312
  272
  235
  200
  168
  139
  113
  90
  71
  54
  41
  30
  22
Current shareholders' claim on cash, %
  99.6
  99.1
  98.6
  98.0
  97.5
  96.9
  96.5
  96.0
  95.7
  95.3
  95.1
  94.9
  94.7
  94.5
  94.4
  94.3
  94.3
  94.3
  94.3
  94.3
  94.3
  94.3
  94.3
  94.3
  94.3
  94.3
  94.3
  94.3
  94.3
  94.3

Paycom Software, Inc. is a provider of a cloud-based human capital management (HCM) software solution delivered as Software-as-a-Service (SaaS). The Company provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. The Company's applications streamline client processes and provide clients and their employees with the ability to directly access and manage administrative processes, including applications that identify candidates, on-board employees, manage time and labor, administer payroll deductions and benefits, manage performance, terminate employees and administer post-termination health benefits, such as COBRA. The Company's solution allows clients to analyze employee information to make business decisions. The Company's HCM solution offers a range of applications, including talent acquisition, time and labor management, payroll, talent management and human resources (HR) management.

FINANCIAL RATIOS  of  Paycom Software (PAYC)

Valuation Ratios
P/E Ratio 161.2
Price to Sales 21.6
Price to Book 60.6
Price to Tangible Book
Price to Cash Flow 71.6
Price to Free Cash Flow 128.9
Growth Rates
Sales Growth Rate 46.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 158.8%
Cap. Spend. - 3 Yr. Gr. Rate 20.9%
Financial Strength
Quick Ratio 60
Current Ratio 1
LT Debt to Equity 24.8%
Total Debt to Equity 25.6%
Interest Coverage 58
Management Effectiveness
Return On Assets 4.6%
Ret/ On Assets - 3 Yr. Avg. 2.8%
Return On Total Capital 32.5%
Ret/ On T. Cap. - 3 Yr. Avg. 19.2%
Return On Equity 40.9%
Return On Equity - 3 Yr. Avg. 26.8%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 83.6%
Gross Margin - 3 Yr. Avg. 83.2%
EBITDA Margin 21.9%
EBITDA Margin - 3 Yr. Avg. 18.2%
Operating Margin 17.6%
Oper. Margin - 3 Yr. Avg. 13.7%
Pre-Tax Margin 17.3%
Pre-Tax Margin - 3 Yr. Avg. 13%
Net Profit Margin 13.4%
Net Profit Margin - 3 Yr. Avg. 8.9%
Effective Tax Rate 22.8%
Eff/ Tax Rate - 3 Yr. Avg. 33.7%
Payout Ratio 0%

PAYC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the PAYC stock intrinsic value calculation we used $433.047 million for the last fiscal year's total revenue generated by Paycom Software. The default revenue input number comes from 0001 income statement of Paycom Software. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our PAYC stock valuation model: a) initial revenue growth rate of 31.1% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for PAYC is calculated based on our internal credit rating of Paycom Software, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Paycom Software.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of PAYC stock the variable cost ratio is equal to 80.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $7 million in the base year in the intrinsic value calculation for PAYC stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Paycom Software.

Corporate tax rate of 27% is the nominal tax rate for Paycom Software. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the PAYC stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for PAYC are equal to 34.4%.

Life of production assets of 9.1 years is the average useful life of capital assets used in Paycom Software operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for PAYC is equal to -2.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $281.247 million for Paycom Software - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 58.625 million for Paycom Software is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Paycom Software at the current share price and the inputted number of shares is $7.3 billion.

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COMPANY NEWS

▶ Paycom: 3Q Earnings Snapshot   [04:37PM  Associated Press]
▶ Dow Rallies 200 Points, But These 2 FANG Stocks Stumble   [10:14AM  Investor's Business Daily]
▶ Paycom to Participate in Upcoming Investor Conferences   [Oct-29-18 09:15AM  Business Wire]
▶ Paycom Jim Thorpe Award Names 2018 Semifinalists   [Oct-22-18 11:15AM  Business Wire]
▶ 7 Tech Stocks to Buy for the Future of HR   [Oct-18-18 03:14PM  InvestorPlace]
▶ 3 Hot Stocks to Buy in October   [Oct-03-18 06:00AM  Motley Fool]
▶ Q3 Earnings Preview: Netflix Joins 18 Stocks Expecting 50% To 308% Growth   [Oct-01-18 04:05PM  Investor's Business Daily]
▶ 10 Boring Stocks Growing Like Weeds   [Sep-14-18 01:05PM  InvestorPlace]
▶ 3 Cloud Stocks to Buy Right Now   [04:29PM  Zacks]
▶ Why Paycom Software Skyrocketed 46% Higher in August   [Sep-03-18 11:15AM  Motley Fool]
▶ Has Paycom Software Inc (NYSE:PAYC) Got Enough Cash?   [Aug-31-18 03:38PM  Simply Wall St.]
▶ Is Paycom Software (PAYC) a Great Growth Stock?   [Aug-27-18 08:41AM  Zacks]
▶ The 7 Best Software-as-a-Service Stocks to Buy Today   [Aug-24-18 08:38AM  Motley Fool]
▶ How to Invest in Software-as-a-Service (SaaS)   [Aug-23-18 02:58PM  Motley Fool]
▶ Apple And Roku Lead Nasdaq Charge; These 4 Sectors Lead The Stock Market   [Aug-09-18 02:30PM  Investor's Business Daily]
▶ Nasdaq Turns Positive As This Top Stock Rebounds From Support   [10:28AM  Investor's Business Daily]
▶ Paycom Software Processes Another Beat and Raise   [Aug-01-18 07:20PM  Motley Fool]
▶ Paycom: 2Q Earnings Snapshot   [Jul-31-18 05:53PM  Associated Press]
▶ Paycom to Participate in Upcoming Investor Conferences   [Jul-26-18 09:15AM  Business Wire]
▶ Move Aside, Apple: These 4 Hot Software Stocks Are In Or Near Buy Range   [Jul-23-18 04:02PM  Investor's Business Daily]
▶ Why I Just Bought These 3 Stocks   [09:45AM  Motley Fool]
▶ Paycom Announces San Diego as Newest Office   [Jun-04-18 04:06PM  Business Wire]
▶ Paycom Announces Latest Expansion in Columbus   [May-29-18 04:06PM  Business Wire]
▶ How To Find The Best Stocks To Buy With Leaderboard   [May-24-18 05:24AM  Investor's Business Daily]
▶ Paycom Taught How Selling In Phases Leaves Possibilities Open   [May-21-18 11:23AM  Investor's Business Daily]
▶ 3 Growth Stocks to Buy and Hold for the Next 50 Years   [May-17-18 07:56AM  Motley Fool]

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