Intrinsic value of Paycom Software - PAYC

Previous Close

$111.76

  Intrinsic Value

$184.84

stock screener

  Rating & Target

str. buy

+65%

Previous close

$111.76

 
Intrinsic value

$184.84

 
Up/down potential

+65%

 
Rating

str. 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 2017), $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 6.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  31.60
  28.94
  26.55
  24.39
  22.45
  20.71
  19.14
  17.72
  16.45
  15.31
  14.27
  13.35
  12.51
  11.76
  11.09
  10.48
  9.93
  9.44
  8.99
  8.59
  8.23
  7.91
  7.62
  7.36
  7.12
  6.91
  6.72
  6.55
  6.39
  6.25
Revenue, $m
  570
  735
  930
  1,157
  1,416
  1,710
  2,037
  2,398
  2,792
  3,219
  3,679
  4,170
  4,692
  5,243
  5,825
  6,435
  7,074
  7,741
  8,438
  9,163
  9,917
  10,702
  11,517
  12,364
  13,245
  14,160
  15,111
  16,101
  17,130
  18,201
Variable operating expenses, $m
  455
  585
  739
  918
  1,122
  1,354
  1,612
  1,896
  2,208
  2,545
  2,902
  3,289
  3,701
  4,136
  4,594
  5,076
  5,580
  6,106
  6,655
  7,227
  7,822
  8,441
  9,084
  9,752
  10,447
  11,169
  11,919
  12,700
  13,511
  14,356
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
  462
  592
  746
  926
  1,130
  1,362
  1,620
  1,904
  2,217
  2,554
  2,911
  3,298
  3,710
  4,145
  4,604
  5,086
  5,590
  6,116
  6,666
  7,238
  7,833
  8,452
  9,096
  9,764
  10,459
  11,181
  11,932
  12,713
  13,524
  14,369
Operating income, $m
  108
  143
  184
  231
  286
  348
  417
  493
  576
  666
  768
  872
  982
  1,098
  1,221
  1,349
  1,484
  1,625
  1,772
  1,925
  2,084
  2,249
  2,421
  2,600
  2,786
  2,979
  3,180
  3,388
  3,605
  3,831
EBITDA, $m
  136
  178
  227
  284
  349
  422
  505
  595
  694
  802
  917
  1,041
  1,172
  1,311
  1,457
  1,610
  1,771
  1,938
  2,113
  2,296
  2,485
  2,683
  2,888
  3,101
  3,322
  3,552
  3,792
  4,040
  4,299
  4,568
Interest expense (income), $m
  1
  2
  23
  48
  77
  112
  151
  196
  245
  300
  360
  425
  495
  569
  649
  732
  821
  913
  1,010
  1,112
  1,217
  1,328
  1,442
  1,561
  1,685
  1,814
  1,948
  2,087
  2,231
  2,381
  2,538
Earnings before tax, $m
  106
  120
  136
  154
  174
  197
  221
  248
  276
  306
  343
  377
  412
  450
  488
  529
  571
  615
  660
  707
  756
  807
  860
  915
  972
  1,031
  1,093
  1,157
  1,224
  1,294
Tax expense, $m
  29
  32
  37
  42
  47
  53
  60
  67
  74
  83
  93
  102
  111
  121
  132
  143
  154
  166
  178
  191
  204
  218
  232
  247
  262
  278
  295
  312
  330
  349
Net income, $m
  77
  88
  99
  113
  127
  144
  161
  181
  201
  223
  251
  275
  301
  328
  356
  386
  417
  449
  482
  516
  552
  589
  628
  668
  710
  753
  798
  845
  894
  944

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
  1,781
  2,296
  2,906
  3,614
  4,426
  5,342
  6,364
  7,492
  8,725
  10,060
  11,496
  13,031
  14,661
  16,386
  18,202
  20,109
  22,106
  24,192
  26,367
  28,633
  30,991
  33,442
  35,990
  38,639
  41,390
  44,250
  47,223
  50,315
  53,531
  56,878
Adjusted assets (=assets-cash), $m
  1,781
  2,296
  2,906
  3,614
  4,426
  5,342
  6,364
  7,492
  8,725
  10,060
  11,496
  13,031
  14,661
  16,386
  18,202
  20,109
  22,106
  24,192
  26,367
  28,633
  30,991
  33,442
  35,990
  38,639
  41,390
  44,250
  47,223
  50,315
  53,531
  56,878
Revenue / Adjusted assets
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
Average production assets, $m
  231
  298
  377
  468
  574
  692
  825
  971
  1,131
  1,304
  1,490
  1,689
  1,900
  2,124
  2,359
  2,606
  2,865
  3,135
  3,417
  3,711
  4,016
  4,334
  4,664
  5,008
  5,364
  5,735
  6,120
  6,521
  6,938
  7,371
Working capital, $m
  -7
  -10
  -12
  -15
  -18
  -22
  -26
  -31
  -36
  -42
  -48
  -54
  -61
  -68
  -76
  -84
  -92
  -101
  -110
  -119
  -129
  -139
  -150
  -161
  -172
  -184
  -196
  -209
  -223
  -237
Total debt, $m
  418
  882
  1,430
  2,068
  2,798
  3,623
  4,543
  5,558
  6,668
  7,869
  9,162
  10,543
  12,010
  13,562
  15,197
  16,914
  18,710
  20,588
  22,546
  24,585
  26,707
  28,913
  31,207
  33,590
  36,066
  38,640
  41,316
  44,098
  46,993
  50,006
Total liabilities, $m
  1,603
  2,066
  2,615
  3,253
  3,983
  4,808
  5,728
  6,743
  7,852
  9,054
  10,347
  11,728
  13,195
  14,747
  16,382
  18,098
  19,895
  21,773
  23,731
  25,770
  27,892
  30,098
  32,391
  34,775
  37,251
  39,825
  42,501
  45,283
  48,178
  51,190
Total equity, $m
  178
  230
  291
  361
  443
  534
  636
  749
  872
  1,006
  1,150
  1,303
  1,466
  1,639
  1,820
  2,011
  2,211
  2,419
  2,637
  2,863
  3,099
  3,344
  3,599
  3,864
  4,139
  4,425
  4,722
  5,031
  5,353
  5,688
Total liabilities and equity, $m
  1,781
  2,296
  2,906
  3,614
  4,426
  5,342
  6,364
  7,492
  8,724
  10,060
  11,497
  13,031
  14,661
  16,386
  18,202
  20,109
  22,106
  24,192
  26,368
  28,633
  30,991
  33,442
  35,990
  38,639
  41,390
  44,250
  47,223
  50,314
  53,531
  56,878
Debt-to-equity ratio
  2.350
  3.840
  4.920
  5.720
  6.320
  6.780
  7.140
  7.420
  7.640
  7.820
  7.970
  8.090
  8.190
  8.280
  8.350
  8.410
  8.460
  8.510
  8.550
  8.590
  8.620
  8.650
  8.670
  8.690
  8.710
  8.730
  8.750
  8.760
  8.780
  8.790
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  77
  88
  99
  113
  127
  144
  161
  181
  201
  223
  251
  275
  301
  328
  356
  386
  417
  449
  482
  516
  552
  589
  628
  668
  710
  753
  798
  845
  894
  944
Depreciation, amort., depletion, $m
  28
  35
  43
  52
  63
  75
  88
  102
  118
  136
  149
  169
  190
  212
  236
  261
  286
  314
  342
  371
  402
  433
  466
  501
  536
  573
  612
  652
  694
  737
Funds from operations, $m
  106
  123
  142
  165
  190
  218
  249
  283
  320
  359
  400
  444
  491
  541
  592
  647
  703
  762
  824
  887
  954
  1,023
  1,094
  1,169
  1,246
  1,326
  1,410
  1,497
  1,587
  1,682
Change in working capital, $m
  -2
  -2
  -3
  -3
  -3
  -4
  -4
  -5
  -5
  -6
  -6
  -6
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -11
  -11
  -11
  -12
  -12
  -13
  -13
  -14
Cash from operations, $m
  108
  125
  145
  168
  193
  222
  253
  288
  325
  365
  406
  450
  498
  548
  600
  655
  712
  771
  833
  897
  964
  1,033
  1,105
  1,180
  1,257
  1,338
  1,422
  1,510
  1,601
  1,695
Maintenance CAPEX, $m
  -18
  -23
  -30
  -38
  -47
  -57
  -69
  -82
  -97
  -113
  -130
  -149
  -169
  -190
  -212
  -236
  -261
  -286
  -314
  -342
  -371
  -402
  -433
  -466
  -501
  -536
  -573
  -612
  -652
  -694
New CAPEX, $m
  -55
  -67
  -79
  -92
  -105
  -119
  -132
  -146
  -160
  -173
  -186
  -199
  -211
  -223
  -235
  -247
  -259
  -270
  -282
  -294
  -306
  -318
  -330
  -343
  -357
  -371
  -385
  -401
  -417
  -434
Cash from investing activities, $m
  -73
  -90
  -109
  -130
  -152
  -176
  -201
  -228
  -257
  -286
  -316
  -348
  -380
  -413
  -447
  -483
  -520
  -556
  -596
  -636
  -677
  -720
  -763
  -809
  -858
  -907
  -958
  -1,013
  -1,069
  -1,128
Free cash flow, $m
  35
  35
  36
  38
  41
  46
  52
  59
  68
  78
  89
  103
  118
  134
  152
  171
  192
  214
  237
  261
  287
  313
  341
  370
  400
  431
  463
  497
  532
  568
Issuance/(repayment) of debt, $m
  382
  464
  549
  638
  730
  825
  920
  1,015
  1,109
  1,202
  1,292
  1,381
  1,467
  1,552
  1,635
  1,716
  1,797
  1,877
  1,958
  2,039
  2,122
  2,206
  2,293
  2,383
  2,477
  2,574
  2,676
  2,782
  2,895
  3,013
Issuance/(repurchase) of shares, $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 from financing (excl. dividends), $m  
  382
  464
  549
  638
  730
  825
  920
  1,015
  1,109
  1,202
  1,292
  1,381
  1,467
  1,552
  1,635
  1,716
  1,797
  1,877
  1,958
  2,039
  2,122
  2,206
  2,293
  2,383
  2,477
  2,574
  2,676
  2,782
  2,895
  3,013
Total cash flow (excl. dividends), $m
  417
  499
  585
  676
  772
  871
  972
  1,074
  1,177
  1,280
  1,382
  1,484
  1,585
  1,686
  1,787
  1,888
  1,989
  2,091
  2,195
  2,301
  2,409
  2,520
  2,634
  2,753
  2,877
  3,005
  3,139
  3,279
  3,426
  3,580
Retained Cash Flow (-), $m
  -43
  -52
  -61
  -71
  -81
  -92
  -102
  -113
  -123
  -134
  -144
  -153
  -163
  -172
  -182
  -191
  -200
  -209
  -218
  -227
  -236
  -245
  -255
  -265
  -275
  -286
  -297
  -309
  -322
  -335
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
  39
  51
  65
  83
  103
  126
  152
  181
  213
  248
  287
  327
  371
  418
  467
  518
  573
  630
  689
  751
  815
  883
  952
  1,025
  1,100
  1,179
  1,260
  1,345
  1,433
  1,525
Cash available for distribution, $m
  374
  447
  524
  605
  691
  779
  870
  961
  1,054
  1,147
  1,238
  1,330
  1,422
  1,514
  1,605
  1,697
  1,789
  1,883
  1,977
  2,074
  2,173
  2,275
  2,380
  2,488
  2,601
  2,719
  2,842
  2,970
  3,105
  3,246
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
  359
  409
  456
  498
  535
  565
  587
  601
  605
  601
  588
  568
  541
  508
  471
  431
  389
  347
  304
  264
  225
  189
  156
  127
  101
  79
  61
  46
  34
  24
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

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 145.6
Price to Sales 19.5
Price to Book 54.8
Price to Tangible Book
Price to Cash Flow 64.7
Price to Free Cash Flow 116.5
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 million for the last fiscal year's total revenue generated by Paycom Software. The default revenue input number comes from 2017 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 31.6% 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 8.9%.

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 40.5%.

Life of production assets of 10 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 -1.3%. 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 - $135 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 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 $6.5 billion.

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COMPANY NEWS

▶ 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]
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▶ 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]
▶ Paycom: 1Q Earnings Snapshot   [May-01-18 05:49PM  Associated Press]
▶ Rising Rates Don't Worry This Growth-Oriented Mutual Fund   [Apr-30-18 09:39AM  Investor's Business Daily]
▶ Paycom to Participate in Upcoming Investor Conferences   [Apr-25-18 09:15AM  Business Wire]
▶ The Top 5 Growth Stocks to Buy Today   [Apr-20-18 06:34PM  Motley Fool]
▶ 3 Cloud Stocks to Buy Right Now   [Apr-17-18 05:52PM  Zacks]
▶ Paycom Downgraded As Results Don't Keep Pace With Stock Gains   [04:24PM  Investor's Business Daily]
▶ 3 Cloud Stocks to Buy Right Now   [02:15PM  InvestorPlace]
▶ 3 Cloud Stocks to Buy Right Now   [Apr-11-18 02:11PM  Zacks]
▶ Top Stock Picks for the Week of April 9th   [Apr-10-18 03:38PM  Zacks]
▶ Rochester Becomes Paycoms Latest Sales Office Opening   [Apr-05-18 04:15PM  Business Wire]
▶ 3 Stocks I'll Buy in a Stock Market Crash   [Apr-01-18 05:02PM  Motley Fool]
▶ Alibaba, Nvidia Among Five Top Stocks Expected To Accelerate Earnings Growth   [Mar-26-18 04:06PM  Investor's Business Daily]
▶ Bull of the Day: Paycom (PAYC)   [07:00AM  Zacks]
▶ Zendesk (ZEN) Catches Eye: Stock Jumps 5.8%   [Mar-15-18 08:47AM  Zacks]
▶ 5 Top Stocks to Buy as Bull Market Turns Nine   [Mar-09-18 08:04AM  Zacks]
▶ What Was The Flaw In This Software Stock Leader's Stock Chart?   [Mar-05-18 08:45PM  Investor's Business Daily]
▶ Breakout Watch: Salesforce, Paycom Peer Pops Into Buy Zone   [10:13AM  Investor's Business Daily]
▶ Paycom Earns National Award for Killer B2B Marketing   [Mar-02-18 10:37AM  Business Wire]
▶ Paycom Appoints Janet Haugen to its Board of Directors   [Feb-20-18 08:00AM  Business Wire]
▶ No. 1-Ranked Stock With 118% Growth Breaks Out With Earnings Due   [Feb-15-18 09:41AM  Investor's Business Daily]
▶ Stocks Rebound To Modest Gains; These Leaders Demand A Look   [Feb-13-18 02:18PM  Investor's Business Daily]
▶ Paycom beats Street 4Q forecasts   [Feb-06-18 06:09PM  Associated Press]
▶ Paycom Software Fourth-Quarter Earnings Beat, Stock Rises   [04:20PM  Investor's Business Daily]
▶ Stocks Up, Paycom Breaks Out; Time To Buy This Bitcoin ETF Again?   [Jan-12-18 01:36PM  Investor's Business Daily]
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