Paycom Software Inc


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SKU: PAYC-1 Category:


Paycom’s stock has been taking a beating despite the company delivering a better-than-expected financial result. The company is one of the many high-growth stocks that has dived on account of the high inflation and the rising interest rates. Paycom’s online payroll and human resource technology solutions are gaining traction, and industry groups are acknowledging Paycom for its contribution to the human capital management market. Their advertising and marketing efforts have been directed towards increasing its market share in the big and expanding HCM TAM. Its unified platform does have a strong appeal for SMBs and midsize enterprise clients who are looking for an all-in-one payroll and HCM solution. While Paycom’s revenue growth has been driven by the new client additions and a continued focus on cross-selling to existing clientele, the workforce returning to offices after the impact of the pandemic has resulted in a gross margin contraction for the company. Despite the recent crash, we are conservative in our outlook of Paycom and give it a ‘Hold’ rating with a revised target price.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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